Faktor-Faktor yang Mempengaruhi Tingkat Underpriced

Abstract

Underwriters have role in determining the price of IPO firms that go public, so they have more information about the stock market than the issuer. The underpriced condition is caused by the information asymmetry between underwriters and issuer. The Study purposes are to determine the factors have an influence on the level underpriced. Those are the reputation of underwriters, the percentage of shares owned by the company, the company's scale, firm age, ROA and financial leverage. The research method used is descriptive verification. The study used a sample of listed companies on the Indonesia Stock Exchange d uring the 2005-2009 and had underpriced. This study used multiple regression analysis. The results show that all six factors influence the level of underpriced filed simultaneously. While partially, only factors of underwriter reputation and the percentage of shares owned by the company that significantly influence the level underpriced.