ANALISIS TINGKAT UNDERPRICING SAHAM PADA PERUSAHAAN YANG MELAKUKAN PENAWARAN SAHAM PERDANA (IPO) DI BEI PERIODE 2012-2016 Studi Kasus Pada Perusahaan Yang Melakukan IPO di Bursa Efek Indonesia Tahun 2012-2016

Abstract

The aims of this study is to find out the effect of Profitability, Leverage, against Underpricing
to firms at Intial Public Offering (IPO) on Indonesia Stock Exchange 2012-2016 which is
mediated by Stock Liqudity. The population in this study are 105 companies at Intial Public
Offering (IPO) that listed on Indonesia Stock Exchange 2012-2016. After selection by using the
purposive sampling method in the population, obtained the results of the census of 71 firms
were through underpricing used as samples. The secondary data collection method that used
is documentation method and indirect observation. Data analysis technique used regression
analysis of panel data. Based on the results of research, Based on the results of the research,
partially profitability has a positive effect to stock liquidity. Leverage has negative and no
significant effect to stock liquidity. Profitability, Leverage, and Stock Liquidity have a significant
negative effect on underpricing. And simultaneously, Profitability, Leverage, and Stock Liquidity
have an effect on Underpricing.

Keywords: Profitabilty, Leverage, Stock Liquidity, Underpricing