ANALISIS FAKTOR YANG MEMPENGARUHI TINGKAT INITIAL RETURN (STUDI PADA PERUSAHAAN NON KEUANGAN YANG TERMASUK DALAM INDEKS SAHAM SYARIAH INDONESIA YANG MELAKUKAN INITIAL PUBLIC OFFERING PADA TAHUN 2012-2016)

Abstract

Iinitial return is a positive return that investors get from underpricing conditions where there is a positive difference between the stock price in the secondary market and the stock price in the primary market on the first day of trading on the stock exchange.This research tries to examine the influence of financial information (Return on Equity, Debt to Equity Ratio, Total Asset Turnover and Price Earning Ratio) and non financial information (offered stock percentage and firm size) on initial return. The sample for this research are 44 non financial firm that include in Indonesia Sharia stock index (ISSI) during period of 2012-2016. This research use multiple regression as analytical methods.The results of this research indicate that financial information (Return on Equity, Debt to Equity Ratio, Total Asset Turnover, Price Earning Ratio) and non-financial information (offered stock percentage and firm size) provide no significant effect on the initial return either partially or simultaneously