PENGARUH INFORMASI PROSPEKTUS PERUSAHAAN TERHADAP INITIAL RETURN PADA PENAWARAN SAHAM PERDANA (Studi Pada Perusahaan LQ-45 2001-2008)

Abstract

ABSTRACT In the process go public before the shares are in the securities exchange is sold in the market which is often called the first Initial Public Offering (IPO). Stock prices that are sold in the market of at IPO has been determined beforehand, while prices in the secondary market is determined by the market mechanism supply and demand. Goal of this research to study and explain the influence of auditor reputation, underwriter reputation, company age, the percentage of shares offered to the public, company profitability (ROA), solvability ratio, and the size of the company's initial return. Analysis of data using descriptive analysis with quantitative sampling technique used is random sampling with purposively sample of 45 companies LQ45. Analsis techniques used, namely descriptive statistics, and the assumption of classical linear regression. Results of research simultaneously there is the influence of auditor reputation, underwriter reputation, company age, the percentage of shares offered to the public, company profitability (ROA), solvability ratio, and the size of the company's initial return. The partial effect on the initial return that auditor reputation, underwriter reputation, solvability ratio, and size. While that does not affect the initial return is presentase shares offered and ROA. In the research that will come, there are several things to note, among the research in the future will need o add other variables that affect the company's IPO LQ45. Increase the range a longer time so that future results are expected to be more digeneralisasikan and can do research using other types of companies such as manufacturing company which has more objects. Keywords : auditor reputation, underwriter reputation, company age, the percentage of shares offered to the public, company profitability (ROA), solvability ratio, initial return.