Analisi Faktor-Faktor Yang Mempengaruhi Underpricing Saham Pada Saat Initial Public Offering Di Bursa Efek Indonesia

Abstract

This study aimed to determine : (1) the influence of underwriter reputation on IPO Underpricing in Indonesia Stock Exchange (2) the influence of auditor reputation on IPO Underpricing in Indonesia Stock Exchange (3) the influence of earning per share on IPO Underpricing in Indonesia Stock Exchange (4) the influence of the firm's age on IPO Underpricing in Indonesia Stock Exchange . The population in this study is that companies doing an IPO in the Indonesia Stock Exchange. The total sample of 68 firms that conduct IPOs in the Indonesia Stock Exchange in the period 2011-2014. Classical assumption test used is normality test, multicollinearity test, autocorrelation test, and heterokedastisitas test. Data analysis to test the hypothesis is by using multiple regression analysis . The results : (1) Underwriter reputation affect negatively and not significant on Underpricing , these results are supported by t count of -1,670 and 0.100 probability > 0.05 (2) Auditor reputation affect negatively and significant on Underpricing , these results are supported by t count of -2,273 and 0.026 probability < 0.05 (3) Earning per Share affect negatively and not significant on Underpricing , these results are supported by t count of -1,110 and 0,275 probability > 0.05 (4) Firm's Age affect negatively and not significant on Underpricing , these results are supported by t count of -0,338 and 0.737 probability > 0.05.