Rinata, Olbi Susila (2024) Pengaruh Kepemilikan Publik Dan Waran Saham Terhadap Kinerja Pasar IPO di Bursa Efek Indonesia. Undergraduate thesis, UPN Veteran Jawa Timur.
|
Text (Cover)
17013010210.-cover.pdf Download (465kB) | Preview |
|
|
Text
17013010210.-bab1.pdf Download (85kB) | Preview |
|
![[img]](http://repository.upnjatim.ac.id/style/images/fileicons/text.png) |
Text
17013010210.-bab2.pdf Restricted to Registered users only until 19 January 2026. Download (334kB) |
|
|
Text
17013010210.-bab3.pdf Restricted to Registered users only until 19 January 2026. Download (311kB) |
|
|
Text
17013010210.-bab4.pdf Restricted to Registered users only until 19 January 2026. Download (448kB) |
|
|
Text
17013010210.-bab5.pdf Download (38kB) | Preview |
|
|
Text
17013010210.-daftarpustaka.pdf Download (175kB) | Preview |
|
|
Text
17013010210.-lampiran.pdf Restricted to Registered users only until 19 January 2026. Download (391kB) |
Abstract
Business competition is getting tighter and competing with each other competitively in order to maintain the existence of the company. This can be overcome by expanding the company, which in expanding the company certainly requires a large enough cost. One alternative to obtaining these costs can be by conducting an Initial Public Offering (IPO). Therefore, it is so important for business people including investors and issuers to understand both short-term and long-term market performance in Initial Public Offerings. This study aims to test and analyze the effect of public ownership on IPO market performance. To measure the short-term performance of the IPO market, this study uses initial returns as a proxy for underpricing and long-term market performance as measured by accumulated abnormal returns (CAR) as the dependent variable, while public ownership as an independent variable, warrants as an intervening variable, and company age, company size, IPO results, underwriter reputation, inflation rate, and GDP growth as control variables. This research is quantitative and the population of this study is IPO issuers during the 2016-2020 period on the Indonesia Stock Exchange. Based on the sampling technique that has been determined, the population of this study is 174 companies, but based on these criteria there are only 53 companies that have complete data related to the variables of public ownership, warrants, and IPO market performance and meet other research sample criteria. The results showed that public ownership affects the initial return. On the other hand, public ownership, company age, company size, IPO proceeds, inflation, and GDP growth have no effect on IPO market performance both in the short term proxied by initial return and in the long term proxied by CAR12 and CAR36. This study proves that public ownership has no effect on warrants. However, this study shows that warrants affect initial return. Other research results prove that warrants, company age, and IPO proceeds have an effect on initial return, while company size, inflation, and GDP growth have no effect on initial return. However, on the long-term performance of the IPO market, warrants, company age, company size, IPO proceeds, inflation, and GDP growth have no effect. In addition, the results show that warrants, company age, company size, IPO proceeds, inflation, and GDP growth have no effect on CAR12 and CAR36. Other research results prove that public ownership and warrants affect initial return. IPO proceeds affect initial return. While public ownership, warrants, company age and size, inflation, GDP growth have no effect on initial return. Public ownership and warrants have no effect on the long�term performance of the IPO market proxied by CAR12 and CAR36. While public ownership, company age warrants, company size, IPO results, inflation, GDP growth have no effect on CAR12 and CAR36. The results of mediation testing with the sobel test provide empirical evidence that through warrants, public ownership affects the performance of the initial return market. While other research results show that through warrants, public ownership has no effect on the long-term performance of the IPO market proxied by CAR12 and CAR36.
| Item Type: | Thesis (Undergraduate) | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Contributors: |
|
||||||||
| Subjects: | H Social Sciences > HG Finance > HG4501-6051 Investment, capital formation, speculation | ||||||||
| Divisions: | Faculty of Economic > Departement of Accounting | ||||||||
| Depositing User: | Olbi Susila Rinata | ||||||||
| Date Deposited: | 19 Jan 2024 07:06 | ||||||||
| Last Modified: | 19 Jan 2024 07:06 | ||||||||
| URI: | http://repository.upnjatim.ac.id/id/eprint/20211 |
Actions (login required)
 |
View Item |