Listyono, Anang Noor (2025) ANALISIS KINERJA KEUANGAN PERUSAHAAN SEKTOR TEKNOLOGI SEBELUM DAN SESUDAH INITIAL PUBLIC OFFERING (IPO) YANG TERDAFTAR DI BURSA EFEK INDONESIA. ANALISIS KINERJA KEUANGAN PERUSAHAAN SEKTOR TEKNOLOGI SEBELUM DAN SESUDAH INITIAL PUBLIC OFFERING (IPO) YANG TERDAFTAR DI BURSA EFEK INDONESIA. (Unpublished)
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Abstract
This study analyzes the financial performance of technology sector companies on the Indonesia Stock Exchange before and after their Initial Public Offering (IPO) in the 2020-2024 period. This study uses a comparative descriptive quantitative approach with a longitudinal design, comparing the liquidity ratios (Current Ratio/CR), solvency (Debt to Equity Ratio/DER), profitability (Net Profit Margin/NPM), and activity (Total Asset Turnover/TATO) of 10 sample companies. Data were obtained from annual financial reports and analyzed using descriptive and inferential statistics (paired sample t-test or Wilcoxon Signed Rank Test). The results show that four of the five financial ratios show significant differences after the IPO: DER, NPM, and TATO. DER experienced a significant increase from 0.756 to 1.189, indicating an increase in the use of debt relative to equity post-IPO, in line with an aggressive expansion strategy. NPM also decreased significantly from 15.23% to 11.48%, reflecting a decrease in operational efficiency due to increased costs and a competitive pricing strategy. TATO experienced a significant decline from 1.234 to 0.876, indicating a decrease in the efficiency of asset utilization to generate sales, as asset increases have not yet optimally contributed to sales. However, the Current Ratio (CR) showed no significant difference (p-value = 0.059), indicating stable liquidity post-IPO, possibly due to the nature of technology businesses that do not require large working capital. Keywords: Initial Public Offering (IPO), Financial Performance, Liquidity Ratios, Solvency Ratios, Profitability Ratios, Activity Ratios, Technology Companies.
| Item Type: | Article | ||||||||
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| Subjects: | H Social Sciences > HC Economics | ||||||||
| Divisions: | Faculty of Economic > Departement of Accounting | ||||||||
| Depositing User: | Anang Noor Listyono | ||||||||
| Date Deposited: | 21 Jul 2025 04:14 | ||||||||
| Last Modified: | 21 Jul 2025 04:14 | ||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/39915 |
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