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Abstrak :
[Penelitian ini bertujuan untuk menguji pengaruh jumlah perusahaan IPO, reputasi penjamin emisi, dan rasio utang terhadap tingkat underpricing saham di pasar perdana yang diukur menggunakan model mean-adjusted. Pengujian hipotesis menggunakan model regresi berganda dengan sampel sebanyak 73 perusahaan yang melakukan IPO di Bursa Efek Indonesia (BEI) tahun 2009-2014. Hasil penelitian ini menunjukkan semua variabel yang diuji yaitu, jumlah perusahaan IPO, reputasi penjamin emisi, dan rasio utang mempunyai efek negatif. Jumlah perusahaan IPO dan reputasi penjamin emisi tidak mempunyai pengaruh signifikan. Sedangkan, rasio utang mempunyai pengaruh signifikan terhadap tingkat underpricing saham di pasar perdana.;The objective of this research is to examine the effect of number of IPOs, reputation of underwriter, and debt ratio on the level of underpricing of stocks in primary market measured using mean-adjusted model. Hypotheses testing uses multiple regression models with observations from 73 IPOs in Indonesia Stock Exchange during the period of 2009-2014. The results indicate that all variables tested, number of IPOs, reputation of underwriters, and debt ratio have negative effect. Number of IPOs and reputation of underwriters have no significant effect. Meanwhile, debt ratio has a significant effect on the level of underpricing of stocks in primary market.;The objective of this research is to examine the effect of number of IPOs, reputation of underwriter, and debt ratio on the level of underpricing of stocks in primary market measured using mean-adjusted model. Hypotheses testing uses multiple regression models with observations from 73 IPOs in Indonesia Stock Exchange during the period of 2009-2014. The results indicate that all variables tested, number of IPOs, reputation of underwriters, and debt ratio have negative effect. Number of IPOs and reputation of underwriters have no significant effect. Meanwhile, debt ratio has a significant effect on the level of underpricing of stocks in primary market., The objective of this research is to examine the effect of number of IPOs, reputation of underwriter, and debt ratio on the level of underpricing of stocks in primary market measured using mean-adjusted model. Hypotheses testing uses multiple regression models with observations from 73 IPOs in Indonesia Stock Exchange during the period of 2009-2014. The results indicate that all variables tested, number of IPOs, reputation of underwriters, and debt ratio have negative effect. Number of IPOs and reputation of underwriters have no significant effect. Meanwhile, debt ratio has a significant effect on the level of underpricing of stocks in primary market.]

Abstrak :
Skripsi ini meneliti mengenai faktor-faktor yang mempengaruhi underpricing saham IPO seluruh perusahaan yang terdaftar di BEI periode 2002 - April 2012. Faktor -faktor yang diuji antara lain opening spread, reputasi penjamin emisi, reputasi auditor, ukuran perusahaan, umur perusahaan. Kelima faktor tersebut berpengaruh negatif terhadap underpricing. Dari kelima faktor tersebut, opening spread, reputasi penjamin emisi, reputasi auditor berpengaruh negatif signifikan terhadap underpricing, sedangkan ukuran perusahaan dan umur perusahaan berpengaruh negatif tidak signifikan terhadap underpricing. ......This research examines the factors that influence underpricing of stock IPO for all companies that listed in the BEI for period 2002 until April 2012. The factors that were tested include opening spread, underwriter?s reputation, auditor's reputation, firm size and firm age. These five factors have negative correlation with underpricing. All of factors such as opening spread, underwriter's reputation, auditor?s reputation are significantly negative effect on underpricing, whereas firm size and firm age are not significantly negative effect on underpricing.