Analysis of Factors that Affect on the Level of Stock under Pricing at the Time of Initial Public Offering

Abstract

This study aims to Determine Whether there is the influence of financial leverage, Stock Offering, and Age of Company against Underpricing. The population of this research is all nonfinancial companies that conduct IPOs in Indonesia Stock Exchange year 2013-2015. Sampling using purposive sampling technique is the selection of samples with certain criteria so that the samples Obtained in this study as many as 85 companies. The analysis methods used multiple linear regression analysis with 5% significance level. The results of this study indicate that financial leverage, Stock Offering has no significant effect on Underpricing. While Age Company has a significant effect on Underpricing.