ABSTRAK Penelitian ini bertujuan untuk mengkaji dampak dari informasi asimetri terhadaptingkat underpricing saham saat IPO. Penelitian ini dilakukan atas 169 sampelperusahaan non perbankan yang melakukan IPO di Bursa Efek Indonesia selamatahun 2006 – 2014. Hasil regresi menunjukkan bahwa informasi asimetriberdampak positif terhadap tingkat underpricing saham saat IPO, sedangkankonservatisme akuntansi memperlemah dampak positif tersebut.

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ABSTRACT This study aims to examine the effect of asymmetric information on the level ofIPO underpricing. The sample consists of 169 non-bank companies that has madetheir initial public offering in Bursa Efek Indonesia during 2006 – 2014.Regression method shows that asymmetric information measured by the age ofthe sample firms positively influence the IPO underpricing level. This study alsoshows that accounting conservatism reduce the positive effect of asymmetricinformation on the underpricing level.