ANALYSIS OF COMPANY PROFITABILITY RATIOS AFTER IPO AND THEIR IMPACT ON STOCK PRICES ON THE ISSI

ANALISIS RASIO PROFITABILITAS PERUSAHAAN SETELAH IPO DAN PENGARUHNYA TERHADAP HARGA SAHAM PADA ISSI

Abstract

Abstract

Objective          : This study aims to analyze the profitability ratios of companies after conducting an Initial Public Offering (IPO) and to examine their impact on stock prices listed in the Indonesian Sharia Stock Index (ISSI).

Method             : The method used in this study is Panel Data Regression with the Random Effect Model (REM) approach. A total of 24 companies were selected as samples using purposive sampling.

Results/Findings              : Based on all tests and analyses, the results indicate that IPOs have a positive impact on company profitability ratios, represented by the variables ROA, NPM, and ROE. Simultaneous testing (F-test) shows that ROA, NPM, and ROE together have a significant effect on stock prices. Meanwhile, partial testing (t-test) reveals that ROA has a positive and significant effect, NPM has a negative but not significant effect, and ROE has a negative and significant effect on stock prices.

Keywords         : ROA, NPM, ROE dan Stock Prices