ANALISIS PENGARUH HARGA SAHAM PERDANA TERHADAP ABNORMAL RETURN YANG DITERIMA INVESTOR STUDI PADA BURSA EFEK INDONESIA

Abstract

In this research uses empirical design, the goal is to determine how the effect of the initial public offering of the abnormal return earned by investors on the Stock Exchange went public in the period 2008-2010. This study is a population of all shares of listed companies on the Stock Exchange. The sampling technique used was purposive sampling method based sampling method with a consideration of certain criteria in order to obtain as many as 26 samples. Based on the statistical test results, it can be concluded that the initial public offering and a significant positive effect on abnormal returns earned by investors on the Stock Exchange, which can be seen from the alternative hypothesis is accepted. This means that the average abnormal return earned by investors on the Stock Exchange for the first six weeks of the companies that go public as many as 26 companies will be greater than 0 (zero) or positive. Overall average abnormal return earned by investors is positive, so that the average IPO price of 26 companies that went public in the year 2008 to 2010 is considered low (undervalued) or if the real rate of return higher than the return that expected.

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