Hubungan antara tingkatan underpricing pada saat dalam periode 1999 - 2006 de…

In Initial Public Offering process, there is a phenomenon called underpricing which means that closing price in first trading day in secondary market is higher than the offering price. Many theory try to explain the reason why this phenomenon exist and one of the theory is signalling theory. In this theory, good firm try to diferentiate themselves from ?bad firm? and they use the degree of unde…