THE ANALYSIS OF A COMPANY’S FINANCIAL PERFORMANCE BEFORE AND AFTER IMPLEMENTING THE INITIAL PUBLIC OFFERING (A STUDY ON THE COMPANY LISTING IN THE IDX OF 2018)
DOI:
https://doi.org/10.31933/dijemss.v2i6.996Keywords:
Liquidity, Activity, Solvability, Profitability, Initial Public Offering (IPO)Abstract
This study aims to discover the differences in financial performance before and after the IPO for companies that went public in 2018. The sampling method was the purposive sampling with 17 companies in total as samples. The financial performance is assessed from the ratio of liquidity, activity, solvability, and profitability. Differences in performance were tested with the paired sample t-test and the Wilcoxon signed rank test. Implementing the basis of the liquidity and solvability ratios, there were improvement differences in companies’ financial performances after the IPO. Meanwhile, by implementing the basis of the activity and profitability ratios, there were declining differences in the companies’ financial performances after the IPO. Throughout thee period of two years and one year after the IPO, there have been both post-IPO changes and stagnations in the hypothesis of the profitability ratio, which concluded that the companies’ ability to seek profit would require a certain period of time.
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Arsyal, F., Rikumahu, B. (2015). The Analysis of Different Financial Performances in a Company Before and After the IPO Using the Du Pont System Method (A Study on State Construction Companies Listed in the IDX in the 2005 – 2014 Period). E-Proceeding of Management, 2(2). 1206-1212.
Brigham & Houston. (2010). The Basics of the Financial Management. Book I Second Edition. Jakarta: Salemba Empat.
The Indonesia Stock Exchange (2010). The Guide to Go Public. Indonesia Stock Exchange, Jakarta.
Cahyani, R.T., & Suhadak. (2017). The Analysis of the Financial Performances of the Company Before and After the Initial Public Offering (IPO) in the IDX (A Study Company Listing in the IDX of 2013. Jurnal Adminitrasi Bisnis, 45(1). 10-18.
Damayanti, U. R., (2017) The Analysis of the Financial Performances of State Companies Before and After the Privatation. Jurnal-Iqtishad, 2(3). 137-157.
Fallen. (2017). The Financial Performances of PT Garuda Indonesia, TBK and Its Subsidiaries Before and After the IPO. Jurnal Finace, 1(10), 1698-1711.
Hamdi, A. S., & Bahruddin, E. (2015). The Application of the Quantitative Research Method in Education. Yogyakarta: Deepublish.
Hery. (2015). The Analysis of the Management Performance of “The Best Financial Analysis”, Reviewing the Management Performance Based on the Financial Ratio. Jakarta: Grasindo.
Izfs, R.D., & Supriatna, N. (2019). The Effects of the Initial Public Offering (IPO) Towards the Company Performances. A Research Journal of Accounting and Finance. 7(1). 19 – 28.
Jogiyanto, H.M. (2017). The Theory of Portpholios and Investment Analysis. Eleventh Edition. BPFE-Yogyakarta.
Juliana, S. R., & Sumani. (2019). The Analysis of the Financial Performance of the Company Before and After the Initial Public Offering (IPO). A Journal of Accounting. 13 (2), 105-122. Doi: https://doi.org/10.25170/jara.v13i2.
Kasmir. (2017). The Analysis of the Financial Report. Editions 1-8. Jakarta: Rajawali Pers.
Khatami, N., Hidayat, R. R., & Sulasmiyati, S. (2017). The Analysis of the Financial Performance Before and After the Initial Public Offering (IPO) in the IDX (A Study on Non-Financial Companies Listed in the IDX of 2011. Journal of Business Administration, 47(1), 87-94.
Purbaningsih, Y. P. (2015). The Analysis of Earning Management and Underperformance in Companies Which Pursue Policies IPO (Case Study in Companies that Go Public Indonesia Stock Exchange Indonesia 2012-2013. International Journal of Business Economics and Low, 8(1), 106-112.
Sugianto, V. Y. (2016). The Analysis of the Financial Performance Before and After Go Public on PT Garuda Indonesia Tbk in 2007-2014. Journal of Business and Management, 52(11), 81-91.
Sugiyono. (2017). The Education Research Method with Approaches in Quantitative, Qualitative and R&D. Bandung: Alfabeta.
Supriyono. R. A. (2000). The Management Control System, Book 2 First Edition. Yogyakarta: BPFE-Yogyakarta.
Wahyono, B. (2018). The Financial Performance Analysis of SMEs Before and After Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX). Journal of Business Education and Economy, 4(2). 2548-8961.
Widoatmodjo, S. (2015). The Knowledge of the Capital Market for the Indonesian Context. Jakarta: Elex Media Computindo".
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Published
2021-08-31
How to Cite
Arif, S., & Santoso Marsoem, B. . (2021). THE ANALYSIS OF A COMPANY’S FINANCIAL PERFORMANCE BEFORE AND AFTER IMPLEMENTING THE INITIAL PUBLIC OFFERING (A STUDY ON THE COMPANY LISTING IN THE IDX OF 2018). Dinasti International Journal of Education Management And Social Science, 2(6), 1045–1058. https://doi.org/10.31933/dijemss.v2i6.996
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