| dc.description.abstract | Studies examining the relationship between the level of intellectual capital and 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 (ROA), 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 sample
selection criteria. 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 |
