SATRIO, FRISTA AULIA PUTRI (2023) PENGARUH PROFITABILITAS, LEVERAGE, DAN UKURAN PERUSAHAAN TERHADAP UNDERPRICING HARGA SAHAM SAAT INITIAL PUBLIC OFFERING (IPO) (Studi Empiris pada Perusahaan yang Melakukan IPO di BEI Periode 2019-2021). S1 thesis, Universitas Mercu Buana Jakarta.
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Abstract
Company needs external financing sources to support their business expansion. This financing is obtained through the capital market, by offering company’s shares to the public. The activity of selling shares to the public for the first time in the capital market called as Initial Public Offering (IPO). This study aims to analyze the effect of profitability, leverage and firm size on stock price underpricing. The population of this study was the company that conduct an IPO on Indonesia stock exchange in 2019-2021 with a total of 160 companies. The selection of the sample in this study used a purposive sampling method and retrieved 132 companies. The data was analyze by multiple regression with IBM SPSS 20 program. The results of this study indicate that the profitability and leverage variables have a positive effect on underpricing of stock prices during the IPO. Meanwhile, the company size variable has no effect on stock underpricing during the IPO. Keywords : Profitability, Leverage, Firm Size, Underpricing, Initial Public Offering (IPO) Perusahaan membutuhkan sumber pembiayaan eksternal untuk mendukung perluasan usahanya. Pembiayaan tersebut didapatkan melalui pasar modal, dengan menawarkan saham perusahaannya kepada masyarakat. Kegiatan penjualan saham kepada publik untuk pertama kalinya di pasar modal disebut dengan Initial Public Offering (IPO). Penelitian ini bertujuan untuk menganalisis pengaruh dari profitabilitas, leverage dan ukuran perusahaan terhadap underpricing harga saham. Populasi dalam penelitian ini adalah perusahaan yang melakukan aktivitas IPO di BEI periode 2019 – 2021 dengan total 160 perusahaan. Pemilihan sampel penelitian dilakukan dengan metode purposive sampling dan diperoleh 132 perusahaan. Metode analisis data yang digunakan dalam penelitian adalah analisis regresi linear berganda, dengan alat pengolahan data yaitu aplikasi SPSS versi 20. Hasil penelitian ini menunjukkan bahwa variabel profitabilitas dan leverage berpengaruh positif terhadap underpricing harga saham saat IPO. Sedangkan, variabel ukuran perusahaan tidak berpengaruh terhadap underpricing saham saat IPO. Kata Kunci : Profitabilitas, Leverage, Ukuran Perusahaan, Underpricing, Initial Public Offering (IPO)
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