Analisis Faktor-Faktor yang Mempengaruhi Underpricing pada Penawaran Saham Perdana di Bursa Efek Jakarta

Abstract

This research aim to test the influence of variable reputation of underwriter, financial leverage, Earning Per Share, and ownership to underpricing of company which doing first issue at Jakarta Stock Exchange. This research is done by taking secondary data. Population in this research are company which doing first issue at Jakarta Stock Exchange of year period 2002-2005. With the intake technique that is purposive sampling, obtained by data as much 36 company. Result of F test equal to 3,587 with the significant level about 0,016 indicating that probability (sig-F) less than 0,05 that mean the underwriter reputation, financial leverage, EPS and ownership by together have the influence which significant to underpricing in Jakarta Stock Exchange. The result of analysis or T test in this research indicate that the reputation of underwriter and Earning Per Share raised proven the significant or accepted while variable of financial leverage and ownership of unprovable share or refused.