ANALISIS PENGARUH FAKTOR INFORMASI AKUNTANSI TERHADAP INITIAL RETURN PADA PENAWARAN PERDANA SAHAM DI BURSA EFEK INDONESIA

Abstract

This research aims to get an empirical study of the effect of total assets turnover, net profit margin, return on assests, debt to equity and earning per share toward the initial return in the companies carrying out the first stocks bargaining in Indonesia Stock Exchange. This research used secondary data and the observation years was done from 2008-2011. The IPO period chosen was 2004-2008. this research used two variables. The first variable was independent variable consisting of  total assets turnover, net profit margin, return on assests, debt to equity and earning per share. The second was dependent variable, that was initial return. The hypothesis was examined by using the double regression model and t- statistical examiner. It was found that  total assets turnover, net profit margin, return on assests, debt to equity and earning per share have no significant effect toward the initial return in the companies  carrying out IPO from 2004- 2008 in Indonesia Stock Exchange.

Key words: Profitability, Debt to Equitity Ratio and Initial Return