PENGARUH UKURAN DEWAN KOMISARIS, INDEPENDENSI DEWAN KOMISARIS, DAN STRUKTUR KEPEMILIKAN TERHADAP IPO UNDERPRICING ( Studi Empiris pada Perusahaan yang Go Public di Bursa Efek Indonesia Periode 2013 – 2015 )

Abstract

The aim of this study is to examine the influence of corporate governance attributes like board size of commissioner, board independent of commissioner, ownership concentration, and institutional ownership on the level of underpricing. This study used firm age, auditor reputation and ROA as control variable. The population in this study consists of all IPO firm in Indonesia Stock Exchange for the period 2013 - 2015. Sample determined with purposive sampling method. Total sample of this research is 55 companies. This study used multiple regression analysis for hypotheses testing. The results of this study indicate that not all attributes of corporate governance studied such as the size of the board of commissioners, the independence of the board of commissioners, ownership concentration, and institutional ownership have a significant effect on the level of underpricing.