PENGARUH PROFITABILITAS, LEVERAGE, DAN UMUR PERUSAHAAN TERHADAP UNDERPRICING SAHAM

Abstract

This research determines the effect of profitability, leverage, and firm age on stock underpricing. Furthermore, profitability was measured by Return On Asset, and leverage was measured by Debt to Equity Ratio. Meanwhile, the firm age was measured by the year of the IPO minus the year the company was established. The research applies quantitatively. Moreover, the population consists of Consumer Non-Cyclical companies listed on the Indonesia Stock Exchange (IDX). The data collection technique used was purposive sampling, in which the sample was based on the criteria given. In line with that, 44 Consumer Non-Cyclical companies were taken as samples. In addition, the data were gained from the companies who have used IPO during 2019-2023. The data analysis technique used was multiple linear regression with the instrument of the SPSS 21 version. The research result shows that both profitability and leverage do not affect stock underpricing. On the other hand, firm age has a positive effect on stock underpricing.