ANALISIS FAKTOR-FAKTOR YANG BERPENGARUH TERHADAP TINGKAT UNDERPRICED PADA PENAWARAN PERDANA Di Bursa Efek Jakarta
Siti Nurhidayati(1*), Nur Indriantoro(2)
(1) Universitas Gadjah Mada
(2) Universitas Gadjah Mada
(*) Corresponding Author
Abstract
Penelitian ini menguji hipotesis yang dikembangkan dalam konteks asimetri informasi di antara para pelaku pasar modal di pasar modal Indonesia. Hipotesis yang diajukan dalam penelitian adalah adanya pengaruh auditor, underwiter, persentase saham yang ditahan oleh pemegang saham lama, umur perusahaan dan ukuran perusahaan terhadap tingkat underpriced. Hasil dari penelitian terhadap perusahaan-perusahaan yang melakukan IPO dalam periode 1995-1996 tidak berhasil menunjukkan adanya pengaruh yang signifikan faktor-faktor di atas terhadap tingkat underpriced.
References
Balvers, McDonald dan Miller (1988), Underpricing of New Issues and The Choice of Auditor as a Signal of Invesment Banker Reputation, The Accounting Review, Vol. LXII, No.4, October.
Beaty (1989), Auditor Reputation And Initial Public Offering, The Accounting Review, Vol LXTV, No.4, October
Carpenter,C, and R. Stawser, (1971), Displacement Of Auditors When Clients Go Public, The Journal of Accountancy 131, (June):55-58.
Carter and Manaster (1990), Initial Public Offerings And Underwriter Reputation, The Journal of Finance, Vol. XLV, No.4, (September): 1045-1067.
Christy, Hasan, dan Smith (1996), A Note On Underwriter Competition And Initial Public Offerings, Journal of Business Finance and Accounting, 23 (5) & (6), July.
Chemmanur dan Fulghieri (1994), Invesment Bank Reputation, Information Production, The Journal of Finance, Vol. XLDC , No.l, March.
Chemmanur (1993), The Pricing Of Initial Public Offerings: Adinamic Model With Information Production, The Journal of Finance, Vol. XLVII, No.l, March.
Mahmud, Hasan Zein, (1996), Persepsi Masyarakat Tentang Profesi Akuntan, Konvensi Nasional Akuntansi III Ikatan Akuntan Indonesia, Semarang, 12 September.
Holland and Horton (1993), Initial Public Offerings on The Unlisted Securities Market: the Impact of Profesional Advisor, Accounting and Business Research, Vol.24, No.93, pp. 19-34.
Husnan, S. (1994), Dasar-Dasar Teori Porto-folio dan Analisis Sekuritas, UPP AMP YKPN, Yogyakarta, edisi Kedua.
Husnan, S. (1996), Penjualan Saham BUMN: Apakah terjadi Distribusi Kemakmuran?, Kelola 13/VI.
Husnan, S. (1996), The First Issues Market: The Case of The Indonesian Bull Market, Jurnal Ekonomi Indonesia, Vol.2, No.l.
Informasi Pasar Modal, No. 13 Tahun 1992.
Kompas, Ekonomi Indonesia Masih Cenderung "Overheating", Senin 30 Desember 1996, hal. 17.
Kompas, Dana Murah Hasil "Go Public" Mitos atau Realitas?, Rabu 19 Maret 1997, hal 5.
Kim, J.I. Krinsky dan J. Lee (1993), Motives for Going Public and Underpricing: New Findings From Korea", Journal of Business Finance and Accounting, 20(2) January 1993, pp. 195-211.
Leland, H. and D. Pyle (1997; Informational Asymmetries, The Journal of Finance, Vol. XXXII, No.2, May, pp:371-387.
Mauer dan Senbet (1992), The Effect of The Secondary Market on The Pricing of Initial Public Offering: Theory and Evidence. Journal of Financial and Quantitative Analysis, Vol.27, No.l, March 1992.
Mandelker dan Raviv (1997), Investment Banking: An Economic Analysis of Optimal Underwritng Contracts, The Journal of Finance, VoLXXXII, No.3, June.
Menon and Williams, (1991), Auditor Credibility and Initial Public Offerings, The Accounting Review, Vol LXIV, No.4, April.
Uang dan Efek, November 1996.
Article Metrics
Abstract views : 2339
| 
views : 2678
| views : 1472
Refbacks
- There are currently no refbacks.
Copyright (c) 2018 Journal of Indonesian Economy and Business
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
| Journal of Indonesian Economy and Business |
| The Journal of Indonesian Economy and Business (print ISSN 2085-8272; online ISSN 2338-5847) is published by the Faculty of Economics and Business Universitas Gadjah Mada, Indonesia. The content of this website is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License |
| © 2019 Journal of Indonesian Economy and Business | Visitor Statistics |