This research aims to examine the influence of auditor’s reputation, profitability, underpricing, dividend policy, corporation size, ownership retention on the value of the firm and the moderating influence of managerial ownership and institusional ownership variables on the relationship between the proportion of retained ownership with value of the firm after the initial public offering. The samples of this research were 69 corporations that run IPO (Initial Public Offering) and are listed in Indonesian Stock Exchange (IDX) from 2013 to 2015. The research samples used purposive sampling method. The data used in this research are secondary data which consist of prospectus financial report, fact book, and other supporting references. The data analysis technique was classical assumption test: normality test, heteroscedaticity test, multicollinearity test, and autocorrelation test. The hypothesis test used multiple regression analysis. The result of this research shows that: the proportion of shares ownership that is still owned by old owners and underpricing has a positive influence to the corporation’s value. Auditor’s reputation, profitability, dividend policy, corporations size not influence on value of the firm. Managerial and institusional ownership do not moderate the relationship between the proportions of shares ownership which are still owned by old owners with corporations value.