Faktor-Faktor yang Mempengaruhi Underpricing Saham Pada Perusahaan Ipo di Bei Periode 2007-2011

Abstract

This research tries to examine the influence of financial variables (DER, ROE, and firm’s size) and non-financial variables (firm’s age, underwriter’s reputations, auditor’s reputations and the use of IPO funds for investment) on underpricing. Underpricing is measured using the method of initial return (IR). The sample for this research are 78 companies that listed in Indonesia Stock Exchange from 2007-2011 as the sample for this research. Purposisve sampling method were used topic the samples of this research. The analytical methods used in this research were multiple regression. The results of this study showed variable auditor’s reputations have negative effect on underpricing. Variables DER, ROE, firm’s size, firm’s age, underwriter’s reputations and the use of IPO funds for investment do not affect the underpricing.
Keywords: IPO, Underpricing, Financial Information Variables, Non Financial Information Variables.