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PENGARUH FINANCIAL LEVERAGE, ROI, ROE, REPUTASI AUDITOR, DAN REPUTASI UNDERWRITER TERHADAP TINGKAT UNDERPRICING SAHAM PADA SAAT IPO DI BEI

Hestytia, Nirmala Assari (2014) PENGARUH FINANCIAL LEVERAGE, ROI, ROE, REPUTASI AUDITOR, DAN REPUTASI UNDERWRITER TERHADAP TINGKAT UNDERPRICING SAHAM PADA SAAT IPO DI BEI. Other thesis, University of Muhammadiyah Malang.

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Abstract

Underpricing is an IPO phenomenon in the capital markets and have been proven by researches in many countries. The purpose of this research is to determine factors that influence underpricing. This research conducted in companies doing IPO at Indonesia Stock Exchange in period of 2007-2012. Underpricing is dependent variable. Independent variables of this research are: financial leverage, return on investment (ROI), return on equity (ROE), auditor reputation, and underwriter reputation. Sample is collected by using purposive sampling, resulting in 72 companies as sample. Multiple linear regression model used to test relation between independent variables and dependent variable. Linear regression analysis shows that underwriter reputation have negative and significant influence on the level of underpricing. Financial leverage, return on investment (ROI), return on equity (ROE), and the auditor reputation do not have significant influence to underpricing. This result had implication that: 1) companies doing IPO should consider underwriter reputation to attract investors and minimize the level of underpricing. 2) underwriters should improve and provide quality underwriting services tp maintain their reputation and IPO success in the future.

Item Type: Thesis (Other)
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Divisions: Faculty of Economics > Department of Accounting (62201)
Depositing User: Halimatus Zahroh
Date Deposited: 08 Jan 2015 02:49
Last Modified: 08 Jan 2015 02:49
URI : http://eprints.umm.ac.id/id/eprint/14493

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