KONSEKUENSI SIGNAL PROSPEKTUS PERUSAHAAN TERHADAP INITIAL RETURN SAHAM PADA PASAR PERDANA DI BURSA EFEK INDONESIA

Abstract

This research investigates three variable of  prospectus report that being Signalling Concequences to initial return stock at Initial Public Offering. These variable are Profitabily,, Financial Leverage and Liquidity. The sample took in the present research consists of 35 firms, which have been listed at Indonesia Stock Exchange since 2002 until 2006 years. The financial report data took as time as public offering. The t and F tests in multiple regression models are used to test hypotheses. Research finding show that : Liquidy at financial report are statistically significant to Signalling Concequences Initial Return. Second, other financial as Profitability and Financial Leverage are statistically no significant to Signalling Concequences initial return stock. This results indicates that investor think liquidity is superior to predict initial return stock at Initial Public Offering.

Keywords: Signalling Concequences, Initial Return,Initial Public Offering