Abstract :
This research?s goal is to find out whether the variable of return of asset, financial leverage and auditor?s reputation affect the underpricing. The theory that is used in this research is asymmetric information and signaling theory. The population in this research is the whole company who does IPO in the period of 2011-2015 with the sum of 96 companies. Data analysis technique that is used is double regretion analys linear to find out the effect return of asset variable, financial leverage and auditor?s reputation to the underpicing of stock on IPO in Bursa Efek Indonesia in period of 2011-2015. Research?s result shows that return of asset, financial leverage don?t affect to underpricing while auditor?s reputation affects to the level of underpricing.
Keywords : return of asset, financial leverage, reputasi auditor and underpricing.