Comparative Analysis of ROE and DER Before and After Company IPOs in Indonesia

Yosef Dwi Kurniawan; Vivi Ariyani

doi:10.55927/jfbd.v4i3.369

Authors

Yosef Dwi Kurniawan Universitas Katolik Widya Mandala Surabaya
Vivi Ariyani Universitas Katolik Widya Mandala Surabaya

DOI:

https://doi.org/10.55927/jfbd.v4i3.369

Keywords:

Return on Equity (ROE), Debt to Equity Ratio (DER), IPO Performance

Abstract

Increasingly fierce business competition has prompted companies to determine the right strategy so that they can continue to operate and excel in the competitive market. This study aims to analyze the differences in financial performance of companies before and after their IPO on the Indonesia Stock Exchange during the period 2018–2022. The method used is quantitative comparative with the Wilcoxon Signed-Rank test because the data is not normally distributed. The results show that there are significant differences in ROE and DER before and after the IPO. ROE tends to decrease, meaning that the profitability of IPO companies is declining, presumably due to a period of crisis. Similarly, DER also decreases, indicating an improvement in the capital structure of the issuing company.

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