| dc.description.abstract | tudies examining the relationship between the level of intellectual capital with firm values of
public companies have been mounting. Yet, very view is devoted on those that are making initial
public offering (IPO). For already publicly companies, intellectual capital disclosure can be seen
in the annual report. For IPO, the information is embedded in the prospectuses. This study is
aimed to analyze the influence of intellectual capital disclosure index (ICDI) and other variables
including the prestige of underwriter, financial leverage, return on assets, and firm size on the
extent of underpricing of companies making IPO from 2013 to 2017. The population consist of
125 companies. A total of 79 IPOs satisfied the selection criteria for the sample. Results using
multiple linear regression analysis show ICDI, the prestige of underwriter, and company size
have negative and significant effect on the level of underpricing. Whilst, financial leverage and
profitability (ROA) are not the explanatory variables for the variation of underpricing. | en_US |
