Pengaruh Ukuran Perusahaan, Umur Perusahaan, Return On Assets (ROA), Reputasi Underwriter, Reputasi Auditor Terhadap Tingkat Underpricing Pada Penawaran Umum Perdana (IPO) (Studi Empiris Pada Perusahaan Yang IPO Di BEI Periode 2016-2018)

Initial Public Offering (IPO) is an activity carried out by the company in the context of an initial public offering sale. Shares listed on the primary market are generally attractive to investors because they provide an initial return. This return indicates the underpricing of shares in the primary market when entering the secondary market. Underpricing is a condition where the stock price at the time of the initial offering is relatively too low compared to the price on the secondary market. The purpose of this study is to analyze the variables that influence the underpricing of the initial public offering on the Stock Exchange for the 2016-2018 period. These factors are company size, company age, return on assets (ROA), underwriter reputation, auditor reputation. Sampling using purposive sampling is the selection of samples with certain criteria, so that the sample obtained in this study were 76 companies. This study uses multiple linear regression analysis with hypothesis testing using SPSS 23. The results of this study indicate that the age of the company and the underwriter reputation affect the level of underpricing. While the size of the company, return on assets (ROA), the auditor's reputation has no effect on underpricing. Keywords : underpricing, company size, company age, return on assets (ROA), underwriter reputation, auditor reputation