Financial Ratio and Initial Return on Companies in Indonesia

Murdiyah Hayati, Nadila
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Abstract

The development of various types of businesses in Indonesia began to emerge in the era of globalization, causing business competition to be increasingly fierce. This study aims to analyze the effect of the oversubscriptio ratio, underwriter reputation, firm size, and leverage on initial return. The independent variables of this study are oversubscriptio, underwriter reputation, firm size, and leverage while the dependent variable is initial return. The sample in this study is a publicly listed company that has an initial public offering (IPO) listed on the Indonesia Stock Exchange in 2015-2021 with a total of 133 companies as samples. The research method uses multiple linear regression. The results of the study found that the oversubscriptio ratio, underwriter reputation, and firm size had a significant effect on initial return, while leverage had no effect on initial return. Investors do not only pay attention to the financial aspects of the company, but also pay attention to non-financial aspects.
印尼公司的财务比率和初始回报
在全球化时代,印尼各类商业的发展开始出现,导致商业竞争日益激烈。本研究旨在分析超额认购比例、承销商声誉、公司规模和杠杆对初始收益的影响。本研究的自变量为超额认购、承销商声誉、公司规模和杠杆,因变量为初始收益。本研究样本为2015-2021年在印尼证券交易所首次公开募股(IPO)的上市公司,共133家公司作为样本。研究方法采用多元线性回归。研究结果发现,超额认购比例、承销商声誉和公司规模对初始收益有显著影响,而杠杆对初始收益没有影响。投资者不仅关注公司的财务方面,也关注非财务方面。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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