Analisis Pengaruh Underwriter Reputation dan Earnings Management terhadap Kinerja Jangka Panjang IPO

Abstract

This study aims to examine the influence of the underwriter reputation, earnings management on long term IPO performance and firm size as control variable. Long term IPO performance is measured using the method buy and abnormal return (BHAR) and calculated for 24 months after IPO. Earnings management proxies into discretionary accrual. While firm size proxies into total asset. Sample taken in this study consisted of 114 companies that carry out IPO in the 2010-2014. Data is analyzed using multiple linear regression analysis. The result of this study showed underwriter reputation and firm size does not affect the long term IPO performance. While earnings management have negative effect on long term IPO performance.