| Summary: | This study aims to analyze the performance of the company stock after the
Initial Public Offering (IPO) in the period of short-term and long-term,
identifying period in which investors can obtain optimal benefits subsequent to the
IPO and to identify factors that affect the company subsequent to the underpricing
IPO. Independent variables used in this study are firm�s size, firm�s profitability
(ROA), firm�s age, market trend and government ownership. Dependent variable
used in this study is underpricing.
The samples in this study are all companies that listed in Indonesia Stock
Exchange (IDX) and experienced underpricing in his initial return from 2007 to
2011. This study using paired-samples t test and multiple linear regression to
analyze the data.
The results of this study indicate that there is no difference between the
stock price performance of short-term period with a long-term period. The results
of the identification of factors that influence the underpricing companies showed
that firm�s size, firm�s profitability, firm�s age and government ownership does
not have a significant effect on underpricing, while the market trend has a positive
effect on underpricing.
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