Lampiran 1
DAFTAR PERUSAHAAN SAMPEL
No Kode Nama Emiten Tanggal
IPO Industri
1 MASA Multistrada Arah Sarana Tbk 09/06/2005 Tire Manufacturing for Automobiles
2 APOL Arpeni Pratama Ocean Line Tbk 22/06/2005 Dockhand and Shipping Company, Domestic and International
3 PEGE Panca Global Securities Tbk 24/06/2005 Securities Companies & Investment Manager
4 RELI Reliance Securities Tbk 13/07/2005 Securities Companies & Underwriter
5 MFIN Mandala Multifinance Tbk 06/09/2005 Financial Institution
6 EXCL Excelcomindo Pratama Tbk 29/09/2005 Telecommunication Services
7 MICE Multi Indocitra Tbk 21/12/2005
General Trading and Distribution of Beauty and Healthy Product, and products for Baby, Kids and
Pregant
8 AMAG Asuransi Multi Artha Guna Tbk 23/12/2005 Insurance
9 BTEL Bakrie Telecom Tbk 03/02/2006 Telecommunication Infrastructure and Services
10 MAIN Malindo Feedmill Tbk 10/02/2006
Production and Selling Feedmill, Breeding and distribution day-old chicks, Investment on
subsidiaries
11 RAJA Rukun Raharja Tbk 19/04/2006 Port Operator
12 BNBA Bank Bumi Artha Tbk 01/06/2006 Banking
13 BBKP Bank Bukopin Tbk 10/07/2006 Banking
14 RUIS Radiant Utama Interinsco Tbk 12/07/2006 Technical Services is a sustain service in the energy sector, oil and gas, from the upstream to downstream
15 TOTL Total Bangun Persada Tbk 25/07/2006 Construction Services 16 IATA Indonesia Air Transport Tbk 13/09/2006 The air charter & helicopter services
17 TRUB Truba Alam Manunggal
Engineering Tbk 16/10/2006
Steam Electric Provider, Engineering, Supplier and Integrated Construction
21 BISI Bisi International Tbk 28/05/2007 Cultivation of seedlings and Trading of Com, Vegetables and Rice
22 WEHA Panorama Transportasi Tbk 31/05/2007 Land Transportation Services 23 BKDP Bukit Darmo Property Tbk 15/06/2007 Land Cultivation and Property
24 SGRO Sampoerna Agro Tbk 18/06/2007 Palm Plantation, sultivation and trading
25 MNCN Media Nusantara Citra Tbk 22/06/2007 Multimedia Investment, Content Distribution & Production
26 MCOR Bank Multicor Tbk 03/07/2007 Banking
27 PKPK Perdana Karya Perkasa Tbk 11/07/2007 Coal Mining, Oil, & Gas Mining Construction Services
28 LCGP Laguna Cipta Griya Tbk 13/07/2007 Property
29 DEWA Darma Henwa Tbk 26/09/2007 Contractor Integrated Mining and Energy Services
30 BACA Bank Capital Indonesia Tbk 04/10/2007 Banking 31 GPRA Perdana Gapuraprima Tbk 10/10/2007 Contractor and Real Estate 32 WIKA Wijaya Karya (Persero) Tbk 29/10/2007 Contractor and Real Estate 33 ACES Ace Hardware Indonesia Tbk 06/11/2007 Home Center General Trades
34 CTRP Ciputra Property Tbk 07/11/2007
Developer and Management Building abd Services for Hotels, Apartment, Office Building, Shopping
Centre, Recreation and the related facilities
35 PTSN Sat Nusapersada Tbk 08/11/2007 Electronic Assembling Industry
36 JSMR Jasa Marga (Persero) Tbk 12/11/2007 Tollroad-Planning, Building, Operating and Maintenance
37 JKON Jaya Konstruksi Manggala Pratama
Tbk 04/12/2007 Construction Services
38 CSAP Catur Sentosa Adiprana Tbk 12/12/2007 Distribution of Painting, Building Materials, Chemical and Modern Retailer of Building Materials
39 ASRI Alam Sutera Realty Tbk 18/12/2007 Developer and Management Real Estate
40 ITMG Indo Tambangraya Megah Tbk 18/12/2007 Coal Mining 41 DGIK Duta Graha Indah Tbk 19/12/2007 Construction Services
42 COWL Cowell Development Tbk 19/12/2007 Land & Building Management and Development
43 BAEK Bank Ekonomi Raharja Tbk 08/01/2008 Banking
45 TRIL Triwira Insanlestari Tbk 28/01/2008
General Trades, Import & Export, Agent for technical hardware, safety equipment, automotive appliances,
machinery, hoist & crane, Service & Maintenance
46 ELSA Elnusa Tbk 06/02/2008 Integrated Oil & Gas Services 47 YPAS Yanaprima Hastapersada Tbk 05/03/2008 Plastics and Packaging
48 BTPN Bank Tabungan Pensiunan Nasional
Tbk 12/03/2008 Banking
49 KOIN Kokoh Inti Arebama Tbk 09/04/2008 Distribution of Building Materials
50 GZCO Gozco Plantations Tbk 15/05/2008 Plantation
51 TPIA Tri Polyta Indonesia Tbk 26/05/2008 Basic Industry and Chemicals 52 BSDE Bumi Serpong Damai Tbk 06/06/2008 Real Estate Developer
53 INDY Indika Energy Tbk 11/06/2008 Operation and Investment in Energy Services, Resources and Infrastructure
54 VRNA Verena Oto Finance Tbk 25/06/2008 Financial Service
55 PDES Destinasi Tirta Nusantara Tbk 08/07/2008 Tours and travel 56 KBRI Kertas Basuki Rachmat Ind. Tbk 11/07/2008 Paper Production and Distribution 57 ADRO Adaro Energy Tbk 16/07/2008 Subsidiaries Integrated Coal Minning
58 HOME Hotel Mandarine Regency Tbk 17/07/2008 Hotel
59 BYAN Bayan Resources Tbk 12/08/2008 Coal Minning from Subsidiary
60 TRAM Trada Maritime Tbk 10/09/2008 Shipping Service for Energy and Mineral Products
PERHITUNGAN
INITIAL RETURN
No Perusahaan Tahun IPO Offering Price Closing Price Initial Return
37 JKON 2007 615 980 0,59
38 CSAP 2007 200 220 0,10
39 ASRI 2007 105 178 0,70
40 ITMG 2007 14000 19600 0,40
41 DGIK 2007 225 205 -0,09
42 COWL 2007 130 221 0,70
43 BAEK 2008 1080 1320 0,22
44 BAPA 2008 150 150 0,00
45 TRIL 2008 400 680 0,70
46 ELSA 2008 400 515 0,29
47 YPAS 2008 545 640 0,17
48 BTPN 2008 2850 2775 -0,03
49 KOIN 2008 170 226 0,33
50 GZCO 2008 225 275 0,22
51 TPIA 2008 2200 2850 0,30
52 BSDE 2008 550 560 0,02
53 INDY 2008 2950 3425 0,16
54 VRNA 2008 100 83 -0,17
55 PDES 2008 200 340 0,70
56 KBRI 2008 260 355 0,37
57 ADRO 2008 1100 1730 0,57
58 HOME 2008 110 183 0,66
59 BYAN 2008 5800 5450 -0,06
60 TRAM 2008 125 159 0,27
DATA MENTAH
No Perusahaan Hutang Ekuitas Total Asset PPS NI
2005 (Dalam rupiah)
1 MASA 477.369.961.836 316.887.064.286 794.257.026.122 0,21 -398,299,055,857
2 APOL 875.029.897.200 631.758.576.421 1.507.681.285.513 0,15 77,220,204,837
3 PEGE 52.988.805.250 40.069.668.830 93.058.474.080 0,25 3,206,632,555
4 RELI 81.111.596.000 71.738.059.000 152.849.655.000 0,23 29,434,393,000
5 MFIN 286.718.617.032 102.384.054.231 389.102.671.263 0,18 19,788,377,445
6 EXCL 5.443.760.653.000 1.030.698.779.000 6.474.459.432.000 0,00 -45,302,622,000
7 MICE 68.446.994.420 49.895.444.874 129.488.369.526 0,17 17,506,282,899
8 AMAG 114.962.777.000 118.449.996.000 233.412.773.000 0,15 13,857,923,000
2006
1 BTEL 682.935.780.813 839.647.372.818 1.522.583.153.631 0,29 -144,324,289,011
2 MAIN 208.304.614.000 105.723.836.000 314.028.450.000 0,07 47,057,786,000
3 RAJA 29.253.692.700 65.436.101.521 95.043.644.701 0,34 350,483,685
4 BNBA 969.389.338.775 298.255.157.635 1.267.644.496.410 0,09 23,327,487,950
5 BBKP 23.490.561.857.000 1.193.328.210.000 24.683.890.067.000 0,14 256,675,189,000
6 RUIS 109.931.366.300 83.918.077.866 193.855.808.638 0,12 14,201,288,062
7 TOTL 481.730.800.675 308.850.486.464 790.581.287.139 0,33 62,120,341,931
8 IATA 234.610.600.000 170.824.539.000 405.435.139.000 0,20 15,120,989,000
9 TRUB 535.518.283.000 -6.286.509.000 702.916.213.000 0,38 -159,108,000
10 CPRO 1.336.070.000.000 1.154.605.000.000 2.498.007.000.000 0,16 201,148,000,000
11 FREN 1.641.276.632.000 722.885.826.756 2.365.416.999.299 0,20 -286,700,181,634
12 SDRA 665.144.766.701 81.755.101.702 746.899.868.403 0,33 7,608,362,376
2007
1 BISI 268.873.000.000 217.513.000.000 534.262.000.000 0,30 60,737,000,000
2 WEHA 37.807.534.780 30.274.164.168 69.576.007.329 0,24 725,802,984
3 BKDP 292.401.822.000 10.151.145.679 302.745.378.745 0,20 53,028,488
4 SGRO 203.670.473.000 408.246.698.000 615.444.325.000 0,24 112,670,620,000
5 MNCN 2.437.407.596.000 1.102.883.998.582 3.567.344.613.630 0,30 289,589,690,354
6 MCOR 881.424.000.000 147.431.000.000 1.028.855.000.000 0,17 2,110,000,000
7 PKPK 10.254.000.000 111.556.000.000 211.809.000.000 0,09 21,183,000,000
8 LCGP 29.264.482.447 41.617.483.675 70.881.966.122 0,43 618,522,845
9 DEWA 212.905.144.000 43.529.017.000 256.608.111.000 0,21 2,866,531,000
10 BACA 329.593.203.000 88.050.884.000 417.644.087.000 0,24 4,886,568,000
11 GPRA 1.052.589.944.480 148.943.890.382 1.212.223.598.150 0,16 10,000,774,494
13 ACES 140.950.880.872 81.409.772.748 222.360.653.620 0,30 27,010,633,692
14 CTRP 439.817.000.000 681.125.000.000 1.393.478.000.000 0,48 -27,000,000
15 PTSN 438.932.347.200 180.234.933.998 619.167.281.180 0,08 20,549,744,957
16 JSMR 7.870.032.878.000 2.385.546.872.000 10.255.697.089.000 0,20 462,567,306,000
17 JKON 534.756.693.100 96.668.345.027 636.500.520.443 0,10 58,031,859,958
18 CSAP 588.037.440.000 197.772.948.000 809.654.770.000 0,23 15,660,194,000
19 ASRI 1.136.845.109.787 1.213.906.858.450 2.357.242.575.255 0,18 1,465,079,822
20 ITMG 411.688.000.000 127.333.000.000 541.058.000.000 0,20 23,241,000,000
21 DGIK 212.077.689.300 230.903.668.718 442.991.357.998 0,25 31,019,658,347
22 COWL 236.250.509.927 50.200.852.824 286.453.862.751 0,33 5,246,611,617
2008
1 BAEK 14.521.027.661.000 1.120.788.304.000 15.641.815.965.000 0,10 192,751,505,000
2 BAPA 101.310.153.118 36.335.131.309 137.498.932.263 0,23 915,938,312
3 TRIL 35.014.116.543 115.666.368.813 150.680.485.356 0,11 18,678,100,085
4 ELSA 1.195.264.000.000 948.901.000.000 2.159.405.000.000 0,20 100,009,000,000
5 YPAS 60.387.168.466 64.942.615.201 125.329.783.667 0,10 13,459,282,596
6 BTPN 9.341.712.000.000 1.238.336.000.000 10.580.048.000.000 0,22 347,399,000,000
7 KOIN 219.374.996.200 65.981.418.858 285.356.415.122 0,29 4,965,791,488
8 GZCO 480.628.003.900 506.317.167.793 1.018.105.838.237 0,19 25,803,112,598
9 TPIA 1.039.061.000.000 1.571.421.000.000 2.610.482.000.000 0,16 485,774,000,000
10 BSDE 2.339.539.333.000 1.268.421.951.000 3.607.961.284.000 0,10 106,564,366,000
11 INDY 3.313.654.342.000 1.696.293.836.000 5.009.974.528.000 0,19 264,969,064,000
12 VRNA 358.827.274.275 63.132.693.427 421.959.967.702 0,17 6,487,076,191
13 PDES 50.858.689.850 57.455.540.909 112.138.957.354 0,22 7,183,509,012
14 KBRI 603.095.453.000 217.741.441.180 1.140.534.499.208 0,33 -64,374,312,679
15 ADRO 11.979.726.000.000 2.150.554.000.000 14.688.683.000.000 0,19 88,534,000,000
16 HOME 74.194.949.482 90.506.392.237 164.701.641.719 0,25 1,481,229,941
17 BYAN 2.621.461.000.000 213.715.000.000 2.837.735.000.000 0,15 252,740,000,000
18 TRAM 324.922.344.933 173.448.416.895 498.371.268.147 0,40 37,102,360,601
PERHITUNGAN
UNDERWRITER
No Perusahaan Saham yang ditawarkan
Offering Price
Nilai emisi saham yang diterima
Rata-rata nilai emisi saham
Reputasi
6 EXCL 1.427.500.000 2000 2.855.000.000.000 811.308.279.459 1
7 MICE 100.000.000 490 49.000.000.000 811.308.279.459 0
8 AMAG 240.000.000 105 25.200.000.000 811.308.279.459 0
9 BTEL 5.500.000.000 110 605.000.000.000 811.308.279.459 0
10 MAIN 61.000.000 880 53.680.000.000 811.308.279.459 0
11 RAJA 679.513.750 120 81.541.650.000 811.308.279.459 0
12 BNBA 210.000.000 160 33.600.000.000 811.308.279.459 0
13 BBKP 843.765.500 350 295.317.925.000 811.308.279.459 0
20 SDRA 500.000.000 115 57.500.000.000 811.308.279.459 0
21 BISI 900.000.000 200 180.000.000.000 811.308.279.459 0
22 WEHA 128.000.000 245 31.360.000.000 811.308.279.459 0
23 BKDP 2.000.000.000 120 240.000.000.000 811.308.279.459 0
24 SGRO 461.350.000 2340 1.079.559.000.000 811.308.279.459 1
25 MNCN 2.750.000.000 900 2.475.000.000.000 811.308.279.459 1
26 MCOR 300.000.000 200 60.000.000.000 811.308.279.459 0
27 PKPK 125.000.000 400 50.000.000.000 811.308.279.459 0
28 LCGP 300.000.000 125 37.500.000.000 811.308.279.459 0
29 DEWA 3.150.000.000 335 1.055.250.000.000 811.308.279.459 1
30 BACA 500.000.000 150 75.000.000.000 811.308.279.459 0
31 GPRA 962.000.000 310 298.220.000.000 811.308.279.459 0
32 WIKA 1.846.154.000 420 775.384.680.000 811.308.279.459 0
33 ACES 515.000.000 820 422.300.000.000 811.308.279.459 0
34 CTRP 3.010.000.000 700 2.107.000.000.000 811.308.279.459 1
35 PTSN 531.388.000 580 308.205.040.000 811.308.279.459 0
36 JSMR 2.040.000.000 1700 3.468.000.000.000 811.308.279.459 1
37 JKON 300.000.000 615 184.500.000.000 811.308.279.459 0
38 CSAP 600.000.000 200 120.000.000.000 811.308.279.459 0
39 ASRI 3.142.000.000 105 329.910.000.000 811.308.279.459 0
40 ITMG 225.985.000 14000 3.163.790.000.000 811.308.279.459 1
41 DGIK 1.662.345.000 225 374.027.625.000 811.308.279.459 0
42 COWL 250.000.000 130 32.500.000.000 811.308.279.459 0
43 BAEK 270.000.000 1080 291.600.000.000 811.308.279.459 0
44 BAPA 150.000.000 150 22.500.000.000 811.308.279.459 0
45 TRIL 300.000.000 400 120.000.000.000 811.308.279.459 0
46 ELSA 1.460.000.000 400 584.000.000.000 811.308.279.459 0
48 BTPN 267.960.220 2850 763.686.627.000 811.308.279.459 0
49 KOIN 250.000.000 170 42.500.000.000 811.308.279.459 0
50 GZCO 1.500.000.000 225 337.500.000.000 811.308.279.459 0
51 TPIA 728.401.000 2200 1.602.482.200.000 811.308.279.459 1
52 BSDE 1.093.562.000 550 601.459.100.000 811.308.279.459 0
53 INDY 937.284.000 2950 2.764.987.800.000 811.308.279.459 1
54 VRNA 460.000.000 100 46.000.000.000 811.308.279.459 0
55 PDES 215.000.000 200 43.000.000.000 811.308.279.459 0
56 KBRI 1.360.000.000 260 353.600.000.000 811.308.279.459 0
57 ADRO 11.139.331.000 1100 12.253.264.100.000 811.308.279.459 1
58 HOME 300.000.000 110 33.000.000.000 811.308.279.459 0
59 BYAN 958.333.500 5800 5.558.334.300.000 811.308.279.459 1
60 TRAM 4.000.000.000 125 500.000.000.000 811.308.279.459 0
46 BTPN 7,54 0.03 0,22 0 -0,03 -0,17875 0,18
47 KOIN 3,32 0.02 0,29 0 0,33 0,0023 0
48 GZCO 0,95 0.03 0,19 0 0,22 -0,0754 0,08
49 TPIA 0,66 0.19 0,16 1 0,30 0,05975 0,06
50 BSDE 1,84 0.03 0,10 0 0,02 -0,21693 0,22
51 INDY 1,95 0.05 0,19 1 0,16 -0,04397 0,04
52 VRNA 5,68 0.02 0,17 0 -0,17 -0,46261 0,46
53 PDES 0,89 0.06 0,22 0 0,70 0,3149 0,31
54 KBRI 2,77 -0.06 0,33 0 0,37 0,09347 0,09
55 ADRO 5,57 0.01 0,19 1 0,57 0,43876 0,44
56 HOME 0,82 0.01 0,25 0 0,66 0,29003 0,29
57 BYAN 12,27 0.09 0,15 1 -0,06 -0,20413 0,2
58 TRAM 1,87 0.07 0,40 0 0,27 -0,04739 0,05
HASIL UJI NORMALITAS
Case Processing Summary
59 100,0% 0 ,0% 59 100,0%
Unstandardized Residual
N Percent N Percent N Percent
Valid Missing Total
Cases
Interval for Mean
5% Trimmed Mean Median
Statistic Std. Error
Tests of Normality
,108 59 ,083 ,958 59 ,038
Unstandardized Residual
Statistic df Sig. Statistic df Sig.
Kolmogorov-Smirnova Shapiro-Wilk
Lampiran 7
HASIL UJI MULTIKOLINERITAS
Coefficientsa
1,418 ,858 1,653 ,104
-,008 ,012 -,104 -,655 ,515 ,665 1,503
.022 ,393 .008 .056 .956 .937 1.067
,003 ,390 ,001 ,007 ,994 ,937 1,067
-,019 ,096 -,029 -,201 ,841 ,790 1,266
B Std. Error Unstandardized
Coefficients
Beta Standardized
Coefficients
t Sig. Tolerance VIF
Collinearity Statistics
Dependent Variable: IR a.
Collinearity Diagnosticsa
3,667 1,000 ,00 ,02 ,01 ,01 ,02
Index (Constant) Lev Profitabilitas PPS UND
Variance Proportions
HASIL UJI AUTOKORELASI
Model Summaryb
,698a ,487 ,381 ,1552124 2,101 Model
1
R R Square
Adjusted R Square
Std. Error of the Estimate
Durbin-Watson
Predictors: (Constant), UND, PPS, Lev, Profitabilitas a.
Lampiran 9
HASIL UJI HETEROKEDASTISITAS
ANOVAb
Squares df Mean Square F Sig.
Predictors: (Constant), UND, PPS, Lev, Profitabilitas a.
Dependent Variable: ABS b.
Coefficientsa
,857 ,434 1,975 ,053
-,003 ,006 -,066 -,418 ,678
.022 ,198 .015 .113 .911
,074 ,197 ,050 ,377 ,708
-,010 ,049 -,029 -,202 ,841
(Constant)
B Std. Error Unstandardized
Lampiran 10
STATISTIK DESKRIPTIF
Descriptive Statistics
59 -,17 ,79 ,2878 ,26763
59 ,09 19,68 3,1139 3,46578
59 -.50 .19 .0358 .09216
59 ,00 ,48 ,2102 ,09202
59 ,00 1,00 ,2034 ,40598
59 IR
Lev
Profitabilitas PPS UND
Valid N (listwise)
Lampiran 11
HASIL UJI REGRESI
ANOVAb
,383 4 ,096 4,612 ,001a
3,772 54 ,070
4,154 58
Squares df Mean Square F Sig.
Predictors: (Constant), UND, PPS, Lev, Profitabilitas a.
Dependent Variable: IR b.
Model Summary
,698a ,487 ,381 ,1552124 Model
1
R R Square
Adjusted R Square
Std. Error of the Estimate
Predictors: (Constant), UND, PPS, Lev, Profitabilitash a.
Variables Entered/Removedb
UND, PPS,
All requested variables entered. a.
Dependent Variable: IR b.
Coefficientsa
1,418 ,858 1,653 ,104
-,008 ,012 -,104 -,655 ,515
.022 ,393 .008 .056 ,956
,003 ,390 ,001 ,007 ,994
-,019 ,096 -,029 -,201 ,841
(Constant)
B Std. Error Unstandardized
