ANALISIS FAKTOR YANG MEMPENGARUHI KUALITAS PERUSAHAAN YANG MELAKUKAN PENAWARAN PERDANA (STUDI EMPIRIS TERHADAP PERUSAHAAN IPO PERIODE JANUARI 2001 - JULI 2006)
ENDARMOYO, IDE WINARSWASEPTA (Adv.Drs. M. Irfan Nursasmito, M.si., Ak.), Drs. M. Irfan Nursasmito, M.si., Ak.
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There are lots of uncertainties when investor wants to invest their money on a company. Investor who doesn't understand completely about the company will absolutely fail to gain profit. Information asymmetry between owner and investor about the real condition of the company is considered to be the main aspect. Therefore, many researcher try to find what kind of company indicator that
can be used to predict the quality of a company, so that the amount of information gain by the investor is equal to the information that known by the owners. This research has an objective to empirically test some of company
indicator that related to the quality of company on initial public offering. Quality of company is measured by the average stock return divided by certain level of
risk in one year after initial public offering. There are ten independent variables used, which are current ratio, total asset turnover, leverage ratio, operating profit
margin, earning per share, return on assets, underpricing level, insider ownership, company's age, and offer size. Population samples are listed companies in Jakarta
Stock Exchange from January 2001 until July 2006.
The result shows that total asset turnover ratio has statistically significant impacting the quality level of a company. The statistic shows that quality of a
company has positive relation to total asset turnover ratio. The result indicates that the amount of assets used to gain company profit can signal the quality of the company.
Kata Kunci : company's quality, current ratio, total asset turnover, leverage ratio, operating profit margin, earning per share, return on assets, underpricing level, insider ownership, company's age, and offer size
