FENOMENA MANAJEMEN LABA MENJELANG IPO DAN KAITANNYA DENGAN NILAI PERUSAHAAN PERDANA SERTA KINERJA PERUSAHAAN PASCA–IPO: STUDI EMPIRIS PADA PERUSAHAAN YANG IPO DI INDONESIA TAHUN 2000-2003

FENOMENA MANAJEMEN LABA MENJELANG IPO DAN KAITANNYA DENGAN NILAI PERUSAHAAN PERDANA SERTA KINERJA PERUSAHAAN PASCA–IPO: STUDI EMPIRIS PADA PERUSAHAAN YANG IPO DI INDONESIA TAHUN 2000-2003

NIKEN ASTRIA SAKINA KUSUMAWARDHANI

SYLVIA VERONICA SIREGAR

Fakultas Ekonomi Universitas Indonesia

ABSTRACT

This study aims to prove that IPO firms are involved in earnings management, and also to discover the impact of earnings management to firm’s value at IPO and also to post-IPO firm’s average EVA growth. This study includes 39 samples of firms doing IPO in Indonesia between 2000-2003 and uses one sample t-test and multiple regression method. The result of this study proves that IPO firms are involved in earnings management, and the earnings management is positively related to firm’s value at IPO and negatively related to post-IPO firm’s average EVA growth.

Keywords: earnings management, EVA, IPO.

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