FAKTOR-FAKTOR YANG MEMENGARUHI TINGKAT UNDERPRICING PADA PERUSAHAAN YANG MELAKUKAN INITIAL PUBLIC OFFERING DI BURSA EFEK INDONESIA

Abstract

This research aim to find out the influence of nonfinancial information (underwriter’s reputation, firm size and percentage of shares offered to the public) and financial information (return on assets and financial leverage) towards the stocks' underpricing on Initial Public Offering (IPO) in Indonesia Stock Exchange 2012-2016. The research sample as many as 93 companies and the method used purposive sampling. Methods of data analysis that used in this study is linear regression, classical assumption and hypothesis test. Based on the results of data analysis, underwriter’s reputation variable had a positive and significant influence towards underpricing and firm size variables had a negative and significant influence towards underpricing. While variable of percentage of shares offered to the public, return on assets and financial leverage don’t had significantly influence towards underpricing.