The Influence Of Auditor Reputation, Firm Size, And Underwriter's Reputation On Share Underpricing
Abstract
This study aims to examine the effect of auditor reputation, firm size, and underwriter reputation on stock underpricing. The population used in this study were companies that conducted an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) for the period 2018 – 2021. The sample in this study was 124 companies using a purposive sampling method. The data analysis method in this study used multiple linear regression analysis with SPSS Version 26. The results showed that auditor reputation had a significant negative effect on stock underpricing, while firm size and underwriter reputation had a significant positive effect on stock underpricing and auditor reputation, firm size, and underwriter reputation simultaneously had a significant positive effect on stock underpricing
Keywords: Auditor Reputation, Firm Size, Underwriter Reputation, Stock Underpricing
References
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Damayanty, P., Djunaidy, D., & Dharma, DA (2021). Analysis of Financial Performance and Corporate Governance on Profit Management. Journal of Business, Logistics and Supply Chain (BLOGCHAIN) , 1 (2), 60–66. https://doi.org/10.55122/blogchain.v1i2.327
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Damayanty, P., Prihanto, H., Mulyadi, & Sari, RU (2022). Economic Performance Of Manufacturing Companies In Indonesia: Long Term Debt, Pre-Tax Foreign Income And Earning Management. International Journal of Educational Research & Social Sciences , 1567–1576. https://ijersc.org/index.php/go/article/download/415/429
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Mulyani, R., Economics, F., Islam, B., Malikussaleh, I., & Lhokseumawe, K. (2017). The Effect Of Underwriter's And Auditor's Reputation, Financial Leverage And Company Size On Underpricing (Empirical Study of Companies Conducting IPOs on the Indonesia Stock Exchange in the 2010-2015 Period). Journal of Islamic Economics, Accounting, and Banking , 99–118.
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Permadi, HK, & Santoso, BH (2019). The Influence of Underwriter Reputation, Firm Size and Firm Age on Stock Underpricing. Journal of Management Science and Research , 8 (7), 1–18.
Purwanto, M. & Mahyani, RE (2016). Factors Causing IPO Underpricing in Indonesia. Managerial Focus , 14 (1), 67–76.
Putra, KMS (2020). Effect of Underwriter Reputation, Auditor Reputation and Company Size on Underpricing of Shares. Journal of Management Science and Research , 9 (2), 1–14.
Saifudin, S., & Rahmawati, D. (2016). The Effect of Accounting and Non-Accounting Information on Underpricing During the Initial Public Offering on the Indonesia Stock Exchange. Journal of Economics and Business Research , 1 (1), 33–46. https://doi.org/10.33633/jpeb.v1i1.1478
Syofian, A., & Sebrina, N. (2021). The Influence of Underwriter Reputation, Auditor Reputation, and Company Size on Underpricing of Companies Conducting Initial Public Offerings (IPO) on the IDX. Journal of Exploratory Accounting , 3 (1), 137–152. http://jea.ppj.unp.ac.id/index.php/jea
Damayanty, P., Ayuningtyas, M., & Oktaviyanti, O. (2022). The Influence of Good Corporate Governance, Company Size, Profitability, and Leverage on Profit Management. Literatus , 4 (1), 90–97. https://doi.org/10.37010/lit.v4i1.664
Damayanty, P., Djadang, S., & Mulyadi. (2020). Analysis on the Role of Corporate Social Responsibility on Company Fundamental Factor Toward Stock Return (Study on Retail Industry Registered in Indonesia Stock Exchange. International Journal of Business, Economics and Law , 22 (1), 1. www.globalreporting.org
Damayanty, P., Djunaidy, D., & Dharma, DA (2021). Analysis of Financial Performance and Corporate Governance on Profit Management. Journal of Business, Logistics and Supply Chain (BLOGCHAIN) , 1 (2), 60–66. https://doi.org/10.55122/blogchain.v1i2.327
Damayanty, P., Hasibuan, AN, & Sari, ME (2018). The Influence of Profitability, Liquidity and Company Age on Going Concern Audit Opinion. Journal of Scientific Edunomika , 19 (2), 31–40. https://doi.org/10.29040/jie.v6i2.5201
Damayanty, P., & Masrin, R. (2022). Effect of Managerial Ownership Structure, Leverage, Financial Distress and Litigation Risk on Accounting Conservatism. Journal of Business and Management , 2 (2), 111–127.
Damayanty, P., Prihanto, H., Mulyadi, & Sari, RU (2022). Economic Performance Of Manufacturing Companies In Indonesia: Long Term Debt, Pre-Tax Foreign Income And Earning Management. International Journal of Educational Research & Social Sciences , 1567–1576. https://ijersc.org/index.php/go/article/download/415/429
Damayanty, P., Wahab, D., & Safitri, N. (2022). The Influence of Profitability, Firm Size and Company Activities on Sustainability Report Disclosure. Journal of Scientific Edunomika , 6 (2), 1–11. https://doi.org/10.29040/jie.v6i2.4998
Desi Sartika, Intan Diane Binangkit, and HTHS (2016). Analysis of Factors Influencing Share Underpricing in Companies Conducting Initial Public Offerings (IPO) on the Indonesia Stock Exchange . 2 (2), 331–343.
Dwijaya, C. (2021). Factors Affecting the Level of Underpricing: Empirical Study of Family Companies IPOs on the IDX. Journal of Economics , Nov. 2021 , 377–394. http://www.ecojoin.org/index.php/EJE/article/view/783
Mulyani, E., & Maulidya, R. (2021). Underpricing of Shares at the Time of Initial Public Offering (IPO): Effects of Company Size, Company Age, KAP Reputation and Profitability. Forum for Accounting Research , 9 (2), 139. https://doi.org/10.24036/wra.v9i2.112970
Mulyani, R., Economics, F., Islam, B., Malikussaleh, I., & Lhokseumawe, K. (2017). The Effect Of Underwriter's And Auditor's Reputation, Financial Leverage And Company Size On Underpricing (Empirical Study of Companies Conducting IPOs on the Indonesia Stock Exchange in the 2010-2015 Period). Journal of Islamic Economics, Accounting, and Banking , 99–118.
Nur Aini, S. (2013). Factors Influencing the Underpricing of Shares in Ipo Companies in Bei for the 2007-2011 Period. Scientific Journal of Management , 1 (1), 88–102.
Pamungkas, WA (2022). The Influence Of Return On Assets, Debt To Equity Ratio, And Underwriter's Reputation On Initial Return In Companies Conducting Initial Shares Offerings On The Indonesia Stock Exchange 2019 - 2021. In Skripsi .
Permadi, HK, & Santoso, BH (2019). The Influence of Underwriter Reputation, Firm Size and Firm Age on Stock Underpricing. Journal of Management Science and Research , 8 (7), 1–18.
Purwanto, M. & Mahyani, RE (2016). Factors Causing IPO Underpricing in Indonesia. Managerial Focus , 14 (1), 67–76.
Putra, KMS (2020). Effect of Underwriter Reputation, Auditor Reputation and Company Size on Underpricing of Shares. Journal of Management Science and Research , 9 (2), 1–14.
Saifudin, S., & Rahmawati, D. (2016). The Effect of Accounting and Non-Accounting Information on Underpricing During the Initial Public Offering on the Indonesia Stock Exchange. Journal of Economics and Business Research , 1 (1), 33–46. https://doi.org/10.33633/jpeb.v1i1.1478
Syofian, A., & Sebrina, N. (2021). The Influence of Underwriter Reputation, Auditor Reputation, and Company Size on Underpricing of Companies Conducting Initial Public Offerings (IPO) on the IDX. Journal of Exploratory Accounting , 3 (1), 137–152. http://jea.ppj.unp.ac.id/index.php/jea
Published
2024-01-20
Section
Articles
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