ANALISIS PENGARUH LEVERAGE, PROFITABILITAS, LIKUIDITAS SAHAM, DAN REPUTASI UNDERWRITER TERHADAP UNDERPRICING IPO

Henda Cornella Arlin Oktavia

Abstract


This study aims to determine the effect of Leverage, Profitability, Stock Liquidity, and Underwriter Reputation on the level of underpricing of IPO company shares. The level of underpricing is obtained by measuring the difference in price on the first day of trading on the secondary market with the price at the time of the IPO. This research is a quantitative study, the population used is a company listing on the IDX and experiencing underpricing of the 2013-2017 IPO period. Determination of the sample using a purposive sampling method with several provisions so as to get 60 companies as samples. The data in this study use secondary data. Data analysis using multiple linear regression assisted with the SPSS version 22 computer program. This study found that Leverage had a significant effect on the level of underpricing of IPO shares while Profitability, Stock Liquidity and Reputation of Underwriters had no significant effect on IPO Underpricing.
Keywords: Underpricing, Leverage, Profitability, Stock Liquidity, Reputation of Underwriter


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References


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