ANALYSIS OF FACTORS THAT AFFECT NET INITIAL RETURN (EMPIRICAL STUDY ON ALL COMPANIES LISTED THAT IPO IN INDONESIA STOCK EXCHANGE FOR THE PERIOD 2013 – 2017)

Abstract

This study aims to explain how Price Earning Ratio, Offers, Underwriter’s Reputation, and Net Initial Return and to know whether there is simultaneously and partially influence between Price Earning Ratio, Offers, and Underwriter’s Reputation against Net Initial Return for all companies doing IPO in Indonesia Stock Exchange period 2013-2017.
Based on the results of the study, variable Price Earning Ratio (PER), Offers, Reputation of Underwriters simultaneously have a significant effect on Net Initial Return, where variable Price Earning Ratio (PER), Offers, Underwriter’s Reputation can explain the effect on Net Initial Return of 9.58% and the remaining 90.42% is influenced by other factors outside the research variable. Partially, Underwriter’s Reputation variable influences the Net Initial Return in a negative direction. Whereas, the Price Earning Ratio (PER) and Offers variables do not affect the Net Initial Return.
Keywords : PER; Offer; Underwriter’s Reputation; Net Initial Return.