JRAA Vol.2 No.2, Juli 2015 ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI TERJADINYA UNDERPRICING PADA INITIAL PUBLIC OFFERING (IPO) DI BURSA EFEK INDONESIA (BEI) PERIODE TAHUN 2010-2013

ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI TERJADINYA UNDERPRICING PADA INITIAL PUBLIC OFFERING (IPO) DI BURSA EFEK INDONESIA (BEI) PERIODE TAHUN 2010-2013

Abstract

Underpricing is phenomena of Initial Public Offering (IPO) which often happened in capital market and have been proved by researchers in  many countries. This research aim to prove phenomena of underpricing in Bursa Efek Indonesia at 2010-2013 and study the factors influencing of underpricing, that is reputation of the underwriter, reputation of the auditor, age of company, return on assets and type of industry.

The population of research is 100 companies listings on Bursa Efek Indonesia in 2010 – 2013 and taken samples are 70 companies experiencing the underpricing of IPO and have complete data. The technique of sampling is purposive sampling and use of secondary data. Method of data collection is the documentation. Multiple linear regression method was used to test the relationship between dependent variable and independent variable.

The results of this research proves that the variable reputation of the underwriter, reputation of the auditor, age of company, return on assets and the type of industry is entirely negative effect and not significant of underpricing.