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Journal : Basic and Applied Accounting Research Journal

IPO Studies: The Effect of Corporate Governance Structure on Underpricing With Underwriter Reputation as a Moderating Variable Dara Audina; Sri Kurnia; Raja Yulianita Sarazwati; Chartady, Rachmad; Marina Lidya
Basic and Applied Accounting Research Journal Vol 4 No 1 (2024): Basic and Applied Accounting Research Journal
Publisher : Future Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.11594/baarj.04.01.13

Abstract

The purpose of this study is to determine the influence of corporate governance structure on underpricing in companies that conduct Initial Public Offering (IPO) on the Indonesia Stock Exchange, as well as to determine the reputation of underwriters moderating the influence of corporate governance structure on underpricing. The research method used is quantitative method. The population in this study was 218 companies and the sample obtained after using purposive sampling was 167 companies. Data analysis techniques in this study are descriptive statistical analysis, classical assumption test, multiple linear regression analysis, and hypothesis test using EViews 12 software. The results of this study show that the size of the board of commissioners has a negative and significant effect on underpricing. Meanwhile, the independence of the board of commissioners and institutional ownership do not have a significant effect on underpricing in companies that conduct an Initial Public Offering (IPO) on the Indonesia Stock Exchange. It can be concluded that the reputation of the underwriter is unable to moderate the influence of the size of the board of commissioners, the independence of the board of commissioners, and institutional ownership on underpricing. In addition, an Adjusted R-squared value of 0.078222 means that 7.82% of the underpricing rate is influenced by the size of the board of commissioners, the independence of the board of commissioners, institutional ownership, and the reputation of underwriters, while the rest is influenced by other variables that are not included in this study.
Co-Authors Afrili, Roland Dika Afriyadi Afriyadi, Afriyadi Agustinus Sihombing Alsa Istiani Ananda Putri Sephiani Andini Yovia Riyanti Anggraini Diah Hardaya Putri Anjilni, Ratih Qadarti Antania, Livia Aprilia, Dianti Arina Nur Aisyiyah Jamil Armansyah Armansyah Armansyah Armansyah Armansyah Asep Kurniawan Aulia Dewi Gizta Aulia Dewi Gizta Azura, Wenni Rahma Bambang Sambodo Charly Marlinda Cindy Mayrianti Dara Audina Dewi, Lyidya Safrina Dwi Septi Haryani Edi Setioko Fatahuddin, Fatahuddin Fauzi Fauzi Febrianta, Rezario Fenny Fenny Firman Adhitara Friassantano, Risgar Hendri, Alfi Hikmawati Hikmawati Ibrahim, Andika Noor Indriaty, Novica Irawan, Adi Chandra Jacky, Jacky Jecky, Jecky Kristian Tampubolon M Syafnur M. Fachri Riauan M. Iqbal Sesaria M. Nasir Reno1 Marina Lidya Masyitah As Sahara Melati, Sekar Mita Elvira Mohammad Iqbal Sesaria Monalisa, Dewi Muhammad Isa Alamsyahbana Mutiara Adinda Febrian Natassa, Dea Novi Chandra Saputra Noviana Noviana Noviar, Yan Novica Indriati Novica Indriaty Novica Indriaty Novrina, Putri Dwi Nurililah, Zulfadhia Nurprihatin, Nurprihatin Oktavia, Aii Melia Putri Oranro Steven Pardede, Ranat Mulia Pramita, Maharani Eka Prasetya, Eka Rima Purnomo, Listiya Ike Putra, Rizky Ramadhana Putri Dwi Novrina Putri Putri, Putri Qurrotal Qolbiyah Rahmayani, Desrika Raja Hardiansyah Raja Linda Raja Yulianita Sarazwati Ramli, Rimayang Anggun Laras Prastianty Ranat Mulia Pardede Ranti Utami Ranti Utami Rasyid, Muhammad Iqbal Refo Fery Harnedi Ria Juwita Dewi Ricky Hardiansyah Rosdiana Rosdiana Sa, Hendy Salihi Salihi Salihi, Salihi Sambodo, Bambang Saputra, Eka Kurnia Saputra, Eko Murti Saputra3, Novi Chandra Sartika Sari Satria, Hendy Satriadi Satriadi Septyana, Wahyuni Shohehuddin Shohehuddin Siregar, Juliani Sari Sitepu, Andres Putranta Siti Dena Zahara Sonia Azlina Sri Kurnia Sri Kurnia Sri Nofarizha Sulfat, Airina Cintha Sepriana Suranta, Juhli Edi Surya Violita Arifin Susinah Kuntadi Sutri Handayani SYAIFUL BAHRI Syaridha Rahmah Taha, Roshaiza Taher, Indra Bastian Tahir, Indra Bastian Telaumbanua, Isihati Tiara Wulandari Tibrani Tibrani, Tibrani Tommy Munaf Utami, Ranti Vandi Verdiansyah Vanisa Meifari Vina Amalia Putri Wahyudi, Ickhsanto Waode Dian Lestari Wardana, Nikolaus Daka Welly, Yerisma Weni Veroni Widia Febriana, Widia Wisra, Mefri Yudi Wong, Yi Yanto, Meidi Yudistira, Nicky Zulaika, Nurfitri  Jati Hari Winarto