PENGARUH REPUTASI UNDERWRITER, REPUTASI AUDITOR DAN UKURAN PERUSAHAAN TERHADAP UNDERPRICING SAHAM

Abstract

This research aimed to examine the effect of underwriter reputation, auditor reputation, and firm size on stock underpricing of companies which had Initial Public Offering (IPO) which were listed on Indonesia Stock Exchange. The research was quantitative. While, the population was 58 companies who had Initial Public Offering (IPO) Which were lisred on Indonesia Stock Exchange (IDX) in 2018. Moreover, the data collection technique used purposive sampling, in which the sample was based on criteria given. In line with, there were 46 companies as sampel. Furthermore, the data analysis technique used multiple regression with SPSS 25. According to the research result, using proper model test (F-test), it showed underwriter reputation, auditor reputation and firm size were properly used. Meanwhile, from hypothesis test (t-test), it concluded underwriter reputation had positive and significant effect on stock underpricing. On the other hand, auditor reputation had negative and insignificant effect on stock underpricing. Likewise, firm size had negative and insignificant effect on stock underpricing of companies who had IPO which were listed on Indonesia Stock Exchange.
Keywords: initial public offering, underwriter reputation, auditor reputation, firm size, stock underpricing.