Pengaruh Persentase Penawaran Saham, Reputasi Underwriter, Return On Assets (ROA),dan Debt to Equity Ratio (DER) Terhadap Tingkat Underpricing pada Perusahaan yang Melakukan Initial Public Offering (IPO) di Bursa Efek Indonesia (BEI) Tahun 2017-2019

Abstract

The aim of this study is to determine the effect of percentage of stock offer, underwriter reputation, return on assets (ROA), and debt to equity ratio (DER) on the level of underpricing at companies who did Initial Public Offering (IPO) in Indonesia Stock Exchange on 2017-2019. This study has an integratet population consist of 148 companies. The purposive sampling technique is used in this study and there are 109 selected companies that pass the criteria to be studied further. The type of data is secondary and the collecting data technique using documentation method. Data analysis techniques that used is multiple regression analysis. The result of this study shows that partially each of underwriter reputation and return on assets (ROA) has a negative and significant effect on the level of underpricing. Meanwhile, the percentage of stock offering and debt to equity ratio (DER) do not have a significant effect on the level of underpricing