Proceedings of the 3rd International Conference of Business, Accounting, and Economics, ICBAE 2022, 10-11 August 2022, Purwokerto, Central Java, Indonesia

Research Article

Effect of Financial Leverage, ROA, Ownership Concentration, Listing Delay on Levels Underpricing During Initial Public Offering (IPO) in Manufacturing Companies on the Indonesia Stock Exchange (2016-2020 Period)

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  • @INPROCEEDINGS{10.4108/eai.10-8-2022.2320917,
        author={Ika Yustina Rahmawati and Wildan Fauzan Akil and Annisa Ilma Hartikasari and Cicih  Rohayati and Tiara  Pandansari},
        title={Effect of Financial Leverage, ROA, Ownership Concentration, Listing Delay on Levels Underpricing During Initial Public Offering (IPO) in Manufacturing Companies on the Indonesia Stock Exchange (2016-2020 Period)},
        proceedings={Proceedings of the 3rd International Conference of Business, Accounting, and Economics, ICBAE 2022, 10-11 August 2022, Purwokerto, Central Java, Indonesia},
        publisher={EAI},
        proceedings_a={ICBAE},
        year={2022},
        month={8},
        keywords={financial leverage return on assets ownership concentration inflation listing delay and underpricing},
        doi={10.4108/eai.10-8-2022.2320917}
    }
    
  • Ika Yustina Rahmawati
    Wildan Fauzan Akil
    Annisa Ilma Hartikasari
    Cicih Rohayati
    Tiara Pandansari
    Year: 2022
    Effect of Financial Leverage, ROA, Ownership Concentration, Listing Delay on Levels Underpricing During Initial Public Offering (IPO) in Manufacturing Companies on the Indonesia Stock Exchange (2016-2020 Period)
    ICBAE
    EAI
    DOI: 10.4108/eai.10-8-2022.2320917
Ika Yustina Rahmawati1,*, Wildan Fauzan Akil1, Annisa Ilma Hartikasari1, Cicih Rohayati1, Tiara Pandansari1
  • 1: Department Management, Faculty of Economics and Business, Universitas Muhammadiyah Purwokerto
*Contact email: rahmawatirahma2015@gmail.com

Abstract

The purpose of this study is to analyze the factors that influence the level of underpricing of manufacturing companies that conduct IPO (Initial Public Offering). This research was conducted on manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2016-2020. The method used in this research is purposive sampling. With a sample of 45 IPO companies with 5 years of observation. Based on the results of the regression analysis in the study, it shows that the Financial Leverage variable has a positive effect on the level of underpricing, Return On Assets has a negative effect on underpricing, ownership concentration has no positive effect on underpricing, and listing delay has a negative effect on underpricing.