PENGARUH CURRENT RATIO, DEBT EQUITY RATIO DAN RETURN ON ASSETS TERHADAP INITIAL RETURN PADA PERUSAHAAN MANUFAKTUR YANG MELAKUKAN INITIALPUBLIC OFFERING YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE TAHUN 2013-2017

WIDYAWATI WIDYAWATI; HARSIAH HARSIAH

doi:10.32520/jam.v4i2.406

WIDYAWATI WIDYAWATI UNIVERSITAS ISLAM INDRAGIRI
HARSIAH HARSIAH UNIVERSITAS ISLAM INDRAGIRI

DOI: https://doi.org/10.32520/jam.v4i2.406

Keywords: IR (Y), CR (X1), DER(X2), ROA (X3)

Abstract

The purpose of this study was to determine the effect of Current Ratio, Debt Equity Ratio and Return on Assets Against Initial Return. To obtain data from these variables taken from the financial statements of manufacturing companies conducting an initial public offering listed on the Indonesia Stock Exchange for the 2013-2017 period. The subject of this research is a manufacturing company that conducts an initial public offering listed on the Indonesia Stock Exchange in the 2013-2017 period, as many as 10 companies. While sampling is used random sampling technique. Current Ratio, Debt Equity Ratio and Return On Assets as independent variables and initial returns as dependent variables. Data collection method uses documentation method. Data analysis using multiple regression analysis.
From the results of the study using the coefficient of determination (R2) obtained the results of 55% Current Ratio, Debt Equity Ratio and Return On Assets together affect the initial return, while the remaining 45% is influenced by other variables that have not been examined in this study. From the results of multiple linear regression test results of the research obtained regression equation Y = 15,967 + 0,011X1 + 1,606X2 + 9,756X3 + e, based on the results of the t (partial) test for the Current Ratio variable obtained 0.004 sig level <0.05 then Ho is rejected and Ha It is accepted that it can be concluded that the current ratio affects the initial return, the debt equity ratio is obtained by the sig level of 0.024 <0.05, so Ho is rejected and Ha is accepted, so it can be concluded that the debt equity ratio affects the initial return, and return on assets is obtained sig 0.029 <0.05 then Ho is rejected and Ha is accepted so it can be concluded that return on assets affects the initial return. And from the f test (simultaneous) obtained sig level of 0.003 <0.05 so it can be concluded that Current Ratio, Debt Equity Ratio and Return On Assets simultaneously have a significant influence on the initial return on manufacturing companies that conduct an initial public offering registered in Indonesia Stock Exchange 2013-2017 period.