EFFECT OF ACCOUNTING INFORMATION AND NON-ACCOUNTING INFORMATION ON UNDER-PRICING IPO AND FIRM VALUE: A STUDY OF COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE DURING PERIOD OF 2008-2014

• Main Authors: Budianto K., Suhadak, Rahayu S.M., Dzulkirom A.R.M.
• Format: Article
• Language: English
• Published: Russian Journal of Agricultural and Socio-Economic Sciences 2019-05-01
• Series: Russian Journal of Agricultural and Socio-Economic Sciences
• Subjects: Accounting information; non accounting information; underpricing; firm value
• Online Access: https://rjoas.com/issue-2019-05/article_09.pdf

Underpricing phenomenon occurs in stock markets in the world, including in the UK, in Australia, in the United States, in South Africa, in Korea in, China, in Malaysia and in Indonesia. Previous studies that discussed the effect of Accounting Information and Non-Accounting Information variables on Underpricing IPO and Corporate Value gave different results, the effect of Underpricing IPO variables on long-term corporate value experienced a lot of underperformance. This study aims to obtain empirical evidence on the effect of Accounting Information and Non-Accounting Information on Underpricing IPO and Firm Value, for companies listed on the Indonesia Stock Exchange in 2008 - 2014. The population of this study is all companies that conduct Initial Public Offering (IPO) and listings on the Indonesia Stock Exchange from 2008 to 2014 as many as 105 companies. The population that meets the criteria to be sampled is 70 companies. The research method used in this study is Warp-PLS. The results showed that the effect of (1) Accounting Information on Underpricing's IPO was not significant (2) Non-Accounting Information on Underpricing's IPO was negative and significant (3) Accounting Information on Firm Value was positive and significant (4) Non Accounting Information on Firm Value is not significant (5) Underpricing's IPO information on Firm Value is negative and significant.