ABSTRAK
Penelitian ini bertujuan untuk mengetahui faktor-faktor yang mempengaruhi
underpricing. Variabel yang di teliti antara lain Debt to Equity Ratio (DER), Return
On Asset (ROA), Earning Per Share (EPS), Umur Perusahaan, Ukuran
Perusahaan.Penelitian ini dilakukan dengan menggunakan alat analisis regresi
linear berganda. Sampel sebanyak 33 perusahaan dari populasi sebanyak 68
perusahaan yang ditentukan dengan menggunakan metode puposive sampling.
Hasil pengujian menunjukkan bahwa DER tidak berpengaruh terhadap tingkat
underpricing, ROA tidak berpengaruh terhadap underpricing, EPS tidak
berpengaruh terhadap tingkat underpricing, umur perusahaan tidak berpengaruh
terhadap tingkat underpricing, ukuran perusahaan berpengaruh terhadap tingkat
underpricing. Hasil pengujian regresi secara simultan menunjukkan bahwa debt to
equity ratio (DER), Return On Asset (ROA), Earning Per Share (EPS), Umur
Perusahaan dan Ukuran Perusahaan berpengaruh secara simultan terhadap tingkat
underpricing.
Kata Kunci : Underpricing, Penawaran Umum Perdana, Debt to Equity Ratio,
Return On Asset, Earning Per share, Ukuran perusahaan, Umur
Perusahaan.

ABSTRACT
This study aims to determine the factors that influence underpricing. The variables
studied include Debt to Equity Ratio (DER), Return On Assets (ROA), Earning Per
Share (EPS), Company Age, Company Size. This research was conducted using
multiple linear regression analysis. A sample of 33 companies from a population of
68 companies was determined using the purposive sampling method. The test
results show that DER has no effect on the level of underpricing, ROA has no effect
on the level of underpricing, EPS has no effect on the level of underpricing, firm
age has no effect on the level of underpricing, firm size has an effect on the level of
underpricing. Simultaneous regression test results show that debt to equity ratio
(DER), Return on Assets (ROA), Earning Per Share (EPS), Company Age and
Company Size simultaneously affect the level of underpricing.
Keyword : Underpricing, Initial Public Offering, Debt to Equity Ratio (DER),
Return On Asset (ROA), Earning Per Share (EPS), Company Age,
Company size.