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Abstract
ABSTRACT
The purpose of this study is to determine and analyze the effect of company age, profitability and financial leverage either simultaneously or partially on underpricing of shares in the initial public offering on the Indonesia Stock Exchange for the period 2019, as well as to determine and analyze the dominant influence on underpricing of shares in the initial public offering. on the Indonesia Stock Exchange for the 2019 period. This study uses a quantitative research approach. The population in this study are all companies that IPO on the Indonesia Stock Exchange in 2019 totaling 54 companies. The sampling technique used in this study is saturated sampling, which is a group of objects taken from all companies that IPO on the Indonesia Stock Exchange in 2019 totaling 54 companies. The type of data used in this study is quantitative data and the data source uses secondary data. Data collection techniques using documentation techniques. The data analysis technique used multiple linear regression approach. Based on the results of the analysis, it shows that company age, profitability, financial leverage have a significant simultaneous effect on stock underpricing in the initial public offering on the Indonesia Stock Exchange for the 2019 period. In terms of company age, profitability and financial leverage have a significant effect on stock underpricing. Profitability is the dominant variable that has an effect. against Underpricing of Shares in the initial public offering on the Indonesia Stock Exchange for the period 2019.
Keywords: Company Age, Profitability, Financial Leverage, Stock Underpricing
ABSTRAK Tujuan dari penelitian ini adalah untuk mengetahui dan menganalisis pengaruh umur perusahaan, profitabilitas dan financial leverage baik secara simultan maupun parsial terhadap Underpricing Saham pada penawaran umum perdana di Bursa Efek Indonesia periode 2019, serta untuk mengetahui variable pengaruh dominan terhadap Underpricing Saham pada penawaran umum perdana di Bursa Efek Indonesia periode 2019. Penelitian ini menggunakan pendekatan penelitian kuantitatif. Populasi dalam penelitian ini adalah seluruh perusahaan yang IPO di Bursa Efek Indonesia tahun 2019 berjumlah 54 perusahaan. Teknik pengambilan sampel (sampling) yang digunakan dalam penelitian ini adalah sampling jenuh, yaitu kelompok obyek yang diambil dari seluruh perusahaan yang IPO di Bursa Efek Indonesia tahun 2019 berjumlah 54 perusahaan. Jenis data yang digunakan dalam penelitian ini adalah data kuantitatif dan sumber data menggunakan data sekunder. Teknik pengumpulan data menggunakan teknik dokumentasi. Teknik analisis data menggunakan pendekatan regresi linier berganda. Berdasarkan hasil analisis menunjukkan bahwa umur perusahaan, profitabilitas, financial leverage berpengaruh signifikan secara simultan terhadap Underpricing Saham pada penawaran umum perdana di Bursa Efek Indonesia periode 2019. Secara prsial umur perusahaan, profitabilitas dan financial leverage berpengaruh signifikan terhadap underpricing saham.Profitabilitas merupakan variabel dominan berpengaruh terhadap Underpricing Saham pada penawaran umum perdana di Bursa Efek Indonesia periode 2019.
Kata Kunci:Umur Perusahaan, Profitabilitas, Financial Leverage, Underpricing Saham