PENGARUH MANAJEMEN LABA TERHADAP REAKSI PASAR DAN RISIKO INVESTASI PADA PERUSAHAAN PUBLIK DI BURSA EFEK JAKARTA

DUL MUID, Dul Muid and Nanang, CATUR (2005) PENGARUH MANAJEMEN LABA TERHADAP REAKSI PASAR DAN RISIKO INVESTASI PADA PERUSAHAAN PUBLIK DI BURSA EFEK JAKARTA. Jurnal Akuntansi dan Auditing (JAA), Volume 1 (Nomor 1). pp. 139-161. ISSN 1412-6699

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Abstract

Earning is an important factor to estimate the performance of company as well as a base to estimate the future profit. Investors pay much attention to the profit earned, without paying attention to the process of forming the information. The neglect of investors makes managers conduct "earning management". The Research analized about earnings management of manufacture's company in Jakarta Stock Exchange (JSX). The research aims to: 1) Analyzing the difference of market reaction to the earnings management and non earnings management's companies. 2) Analyzing the difference of investment risk between earnings management and non earnings management's companies. The research was done to manufacture's companies listed in JSX. Among 157 manufacture's companies listed in 2001, 32 companies were taken to become sample. Using total accruals by indicator, earnings management was analized with discretionary accrual approach. The sample were divided into two types, 12 companies were earnings management and 20 companies were non earnings management. Independent sample t-test was used to analyzed data after it has normal distribution by Kolmogorov-Smirnov test. The result show that there was no difference of the market reaction between earnings management's companies and non earnings management's companies and there was no difference of investment risk between earnings management's companies and non earnings management's companies. It based of the result of independent sample t-test that show the probability of amount market reaction and investment risk were not significant in 5 percent. Keywords: Earnings Management, Market Reaction, Investment Risk

Item Type:Article
Subjects:H Social Sciences > HG Finance
Divisions:Faculty of Economics and Business > Department of Accounting
ID Code:13874
Deposited By:Mr. Perpustakaan Ekonomi
Deposited On:17 Jun 2010 21:43
Last Modified:17 Jun 2010 21:43

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