DETERMINAN UNDERPRICING SAHAM GO PUBLIC TAHUN 2009-2013

  • Emi Yanti Fakultas Ekonomi dan Bisnis Universitas Udayana
  • Gerianta Wirawan Yasa Fakultas Ekonomi dan Bisnis Universitas Udayana

Abstract

The firms go public conduct Initial Public Offering (IPO) and set price of its shares with underwriters. Underpricing phenomenon that occurs when IPO is influenced by several factors. This study aims to determine the effect Return On Assets (ROA), firm size, underwriter reputation, auditor reputation, firmĀ  age, and financial industry type to the IPO underpricing. Total population of firmsIPO in 2009-2013 are 115 firms and obtained 90 samples, with a purposive sampling method. The analysis technique is multiple linear regression analysis with SPSS. The results showed that only auditor reputation negatively affects underpricing. Underwriter reputation negatively affects underpricing but the research hypothesis was rejected because different direction. ROA, firm size, firm age and financial industry type have no effect on underpricing. This suggests that non-financial information especially auditor reputation affects underpricing because investors believe that audited financial statements have informed the company as a whole.

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Published
2016-07-09
How to Cite
YANTI, Emi; YASA, Gerianta Wirawan. DETERMINAN UNDERPRICING SAHAM GO PUBLIC TAHUN 2009-2013. E-Jurnal Akuntansi, [S.l.], v. 16, n. 1, p. 244-274, july 2016. ISSN 2302-8556. Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/17008>. Date accessed: 21 nov. 2024.
Section
Articles

Keywords

underpricing, IPO, financial information, non-financial information

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