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Abstract
Penelitian empiris ini dimaksudkan untuk mengetahui pengaruh Reputasi Underwriter, Reputasi Auditor, Persentase Saham yang ditawarkan ke Publik, Financial Leverage, Profitabilitas (ROA), Profitabilitas (NPM), Current Ratio, Ukuran Perusahaan, Umur Perusahaan, dan Jenis Industri terhadap Underpricing saham pada penawaran saham perdana di Bursa Efek Indonesia tahun 2000-2012. Berdasarkan hasil analisis data, pengujian secara parsial menunjukkan variabelvariabel Reputasi Underwriter, Reputasi Auditor, Persentase Saham yang ditawarkan ke Publik, dan Jenis Industri tidak mempunyai pengaruh yang signifikan terhadap Underpricing, Variabel Financial Leverage berpengaruh positif dan signifikan terhadap Underpricing. Sedangkan Variabel Profitabilitas (ROA), Profitabilitas (NPM), Current Ratio, Ukuran Perusahaan, dan Umur Perusahaan berpengaruh negatif dan signifikan terhadap Underpricing saham pada penawaran saham perdana di Bursa Efek Indonesia.
Kata kunci : Initial Public Offering, Initial Return dan Underpricing
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