JURNAL BISNIS DAN AKUNTANSI
FENOMENA UNDERPRICING PADA PENAWARAN UMUM PERDANA DI BURSA EFEK INDONESIA
The purpose of this study is to obtain empirical evidence and test the factors that affect underpricing level. The factors are leverage, IPO risk, company size, company age, retun on assets, and reputation of underwriter. Population in this study is non financial company which listed in Indonesia Stock Exchange during 2006 until 2010. There are 53 companies selected as final sample. Hypothesis tested by using multiple regression analysis. The result of this study indicate leverage, IPO risk, company size, company age, return on assets, and reputation of underwriter do not affect to underpricing level.Keyword :Underpricing, Leverage, IPO Risk, Company Size, Company Age, and Underwriter Reputation.