HUBUNGAN REPUTASI UNDERWRITER DAN LEVERAGE KEUANGAN DENGAN UNDERPRICING SAHAM SAAT INITIAL PUBLIC OFFERING (IPO) TAHUN 2009 – 2013

MARLIA, SRI (2014) HUBUNGAN REPUTASI UNDERWRITER DAN LEVERAGE KEUANGAN DENGAN UNDERPRICING SAHAM SAAT INITIAL PUBLIC OFFERING (IPO) TAHUN 2009 – 2013. S1 thesis, Universitas Negeri Jakarta.

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Abstract

SRI MARLIA. The Correlation of Underwriter‟s Reputation and Financial Leverage with Underpricing of Stock at Initial Public Offering (IPO) Period 2009 until 2013. Skripsi. Faculty of Economics. State University of Jakarta. 2014. This study aims to examine the correlations that exist in the underwriter's reputation and financial leverage with the company's stock underpricing when Initial Public Offering (IPO) in the stock market in 2009 – 2013. The method used is survey method with a descriptive analysis procedures and statistical analysis with regression and correlation tests. This research used the secondary data, the data needed to determine the underwriter‟s reputation is the name of the IPO issuer's lead underwriters and the underwriter‟s rating in the 20 Most Active Stock Exchange Brokerage House Monthly in 2009-2013 were assessed with a dummy variable and data used to determine financial leverage is total debts and total assets of the issuer's last year before the IPO that obtained from Prospectus by using the formula of debt to asset ratio. And for the use of underpricing data is the IPO price and the closing price of the first day of listing on the Stock Exchange (IDX). In this study, sampling used is a random sampling method using tables Isaac. In this study, the samples used is 72 companies that go public in the year 2009 to 2013 in Indonesia. Regression equation in this study is Y = 47,977 - 15,259X iv 1 – 24,292X From the results of the analysis, indicate that the underwriter's reputation and financial leverage each significantly negatively associated with underpricing. Silmutantly, the correlation between underwriter reputation and financial leverage with underpricing is significantly related with a moderate degree of correlation. The ability of the underwriter's reputation and financial leverage explain underpricing is 21.4%.

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