Pengaruh Financial Leverage Terhadap Underpricing Saham Perdana (IPO) di Bursa Efek Indonesia Periode 2002-2008 (penelitian pada perusahaan yangbergerak di bidang keuangan)

Penelitian yang berjudul Pengaruh Financial Leverage Terhadap Underpricing Saham Perdana (IPO) di Bursa Efek Indonesia Periode 2002-2008 bertujuan untuk mengetahui Pengaruh Financial Leverage Terhadap Underpricing Saham Perdana (IPO) di Bursa Efek Indonesia Periode 2002-2008 (Penelitian pada Perusahaan yang Bergerak di Bidang Keuangan).

Metode penelitian yang digunakan adalah metode deskriptif verifikatif. Variabel yang diteliti adalah financial leverage sebagai variabel independen dan underpricing saham perdana sebagai variabel dependen. Teknik pengambilan sampel adalah purposive sampling dan yang menjadi sampel yaitu perusahaan yang mengalami underpricing pada saat melakukan penawaran umum (IPO) yang bergerak di bidang keuangan periode 2002-2008 yaitu sebanyak 21 perusahaan. Pengujian hipotesis penelitian menggunakan metode analisis regresi linier sederhana, koefisien product moment, dan uji �t�.

Hasil pengujian menunjukkan bahwa tidak terdapat pengaruh yang signifikan dari financial leverage terhadap underpricing saham perdana. Nilai koefisien determinasi menunjukkan bahwa kontribusi yang diberikan oleh financial leverage terhadap underpricing sangat kecil. Sedangkan sisanya dijelaskan atau merupakan kontribusi dari variabel lain yang tidak termasuk dalam model penelitian ini, seperti reputasi auditor, reputasi underwriter, jenis industri perusahaan, jumlah saham yang masih ditahan investor lama, profitabilitas, skala perusahaan (size), dan sebagainya. Dan koefisien korelasi yang rendah dan searah, artinya jika financial leverage semakin meningkat, maka underpricing juga akan meningkat.

The research that is titled The Influence of Financial Leverage to Underpricing in initial Public Offering (IPO) in Indonesia Stock Exchange Period 2002-2008 is to analyze the influence of Financial Leverage to Underpricing in Initial Public Offering in Indonesia Stock Exchange Period 2002-2008 (The research in companies which to move in finance field).

The research method that was used is the descriptive verification method. The variable that was analyzed is financial leverage as the independent variable and underpricing in Initial Public Offering (IPO) as the dependent variable. Technique used to take sample is purposive sampling and 21 companies which are experiencing underpricing in Initial Public offering (IPO) which to move in finance field period 2002-2008 had been taken as a research sample. The research hyphotesis analyze use simple regression analyze, product moment coefficient, and �t� test.

The result test show that financial leverage does not have significant influence to underpricing in Initial Public Offering (IPO). Value of coefficient determination show that the contribution of financial leverage to underpricing in Initial Public Offering (IPO) is very low. While the rest of it is explained or as contribution of other variable that are not included in this research, such as auditor repute, underwriter repute, companies industries kind, total of stock that to stand in old investor, profitabililtas, size, etc. And corelation coefficient that low and purpose, is if financial leverage to ascend, then underpricing in Initial Public offering (IPO) ascend too.