<![CDATA[Abstrak Perusahaan dapat memenuhi segala bentuk kebutuhan serta mengembangkan bisnis dengan cara melakukan kegiatan jual beli sekuritas yang dimiliki kepada masyarakat umum di pasar modal. Perusahaan pertama kali menerbitkan efek di pasar primer sebelum menerbitkannya di pasar sekunder. Adanya perbedaan yang terjadi antata harga saham yang ada pasar primer dan pasar sekunder dapat memunculkan fenomena saham salah satunya adalah undepricing saham yang mana terjadi karena harga yang lebih rendah di pasar primer dibandingkan dengan pasar sekunder. Tingkat underpricing yang terjadi di Indonesia tergolong cukup tinggi dalam setiap tahunnya, terdapat sebanyak 51 perusahaan go public di tahun 2019 dan 50 perusahaan go public di tahun 2020 yang mengalami fenomena ini. Studi ini memiliki pendekatan kuantitatif dengan tujuan untuk mengetahui adanya pengaruh antara inflasi, proceeds, profitabilitas, dan solvabilitas terhadap underpricing saham pada perusahaan go public di Bursa Efek Indonesia (BEI) tahun 2019-2020. Memiliki populasi sebanyak 101 perusahaan yang go public di Bursa Efek Indonesia (BEI) tahun 2019-2020 dengan sampel sebanyak 97 perusahaan yang diuji menggunakan metode purposive sampling. Data penelitian ini dianalisis menggunakan metode analisis deskriptif dan analisis regresi linear berganda. Hasil dalam penelitian ini menyimpulkan bahwa tingkat inflasi, proceeds, profitabilitas, dan solvabilitas secara simultan memengaruhi underpricing saham. Sedangkan hasil pengujian parsial menunjukkan bahwa tingkat inflasi dan profitabilitas memiliki pengaruh positif, proceeds berpengaruh negatif, dan solvabilitas tidak memiliki pengaruh terhadap underpricing saham. Kata Kunci: Go Public, underpricing, saham, inflasi, proceeds, profitabilitas, dan solvabilitas Abstract The company can fulfill all forms of needs and develop business by conducting buying and selling securities owned by the general public in the capital market. Companies first issue securities on the primary market before issuing them on the secondary market. The difference that occurs between stock prices in the primary market and the secondary market can lead to a stock phenomenon, one of which is stock underpricing, which occurs due to lower prices in the primary market compared to the secondary market. The level of underpricing that occurs in Indonesia is quite high every year, there are as many as 51 companies going public in 2019 and 50 companies going public in 2020 that experience this phenomenon. This study has a quantitative approach with the aim of knowing the effect of inflation, proceeds, profitability, and solvency on stock underpricing in publicly listed companies on the Indonesia Stock Exchange (IDX) in 2019-2020. It has a population of 101 companies that went public on the Indonesia Stock Exchange (IDX) in 2019-2020 with a sample of 97 companies tested using the purposive sampling method. The research data were analyzed using descriptive analysis methods and multiple linear regression analysis. The results of this study conclude that the level of inflation, proceeds, profitability, and solvency simultaneously affect stock underpricing. While the partial test results show that the inflation rate and profitability have a positive effect, proceeds have a negative effect, and solvency has no effect on stock underpricing. Keywords: Go public, underpricing, stocks, inflation, proceeds, profitability and solvency]]>
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