KINERJA KEUANGAN SEBELUM DAN SESUDAH INITIAL PUBLIC OFFERING (IPO) (Analisis pada perusahaan PT Bank Syariah Indonesia Tbk)

Abstract

This research aimed to differentiate the financial performance before and after IPO in PT. Indonesia Syariah Bank Tbk. the research was quantitative. Moreover, the population was financial statements of PT. Indonesia Syariah Bank Tbk before and after IPO which were listed on Indonesia stock exchange during 2016 – 2018. Furthermore, the data collection technique used purposive sampling. Additionally, the data analysis technique used multiple linear regression, namely normality test, and dependent test of t-test sample SPSS 16. The research result concluded that: 1) there was no significant difference between current ratio which was owned by companies before and after IPO, i.e. -1288<2.086. Therefore, H0 was rejected and Ha was accepted, 2) there was a significant difference between Debt to Equity Ratio before and after doing IPO, i.e. 4.296>2.080. It mean H0 was accepted and Ha was rejected, 3) there was no significant difference between Return On Equity before and after IPO, i.e. 1.235<2.086. This meant, H0 was rejected and Ha was accepted, and 4) there was a significant effect between Total Asset Turnover before and after IPO, i.e. significance of 0.059>0.05. Therefore, H0 was accepted and Ha was rejected. in suggestion. The management had to maintain stability of its financial performance after IPO, such as maintaining liquidity, solvability, activity, and profitability. This was essential to do, in order to fulfill the investors’ trust; so that companies’ existence would be maintained lengthly.