PENGARUH ARUS KAS OPERASI DAN LABA AKUNTANSI TERBADAP LIKUIDITAS SAHAM EMITEN DI BURSA EFEK JAKARTA

Abstract

Fetterman its hertnivan untuk mengetalrm don menganalisis pengarut arts has onsrasi dan laba akuntsnsi Iththathip !laminas sermon di Farm Fink Juliana (BEJ). !Asotitian dilakuknn di PRI Mangan menmunakan ea seamed berdrakkon rm000rtionate Stratified Random Sampling an psnetapan sandy& berdasarkan Data yang eibutshkan sialam peneldian ini adalais junk))) ants kas rmerast dam laba akuntanv unInk per-lode akurtansi 1995, langgal nengu.suman layman keuaugan penode aktunanki 1995, jumlah salaam yang diperdagangkan, dan sundah saham yam: beredar. rengamatan dilakukan unit; 5 heti sebelirm dan tuna bar. sesndalt pengunuman !apnea» kruangan. Trading Volume Aapay (TVA) sebagai indikator mink meneukur likuiditas sabot». ilipoteus pertoma, diatoms dcugan rrmaggunakan path (Inaba' dengan us F dan up t. Sedangkan higniesis kedua mengganakan no Ikeda Stull analius hipmcsis 0:mama manunnikkan barma tuba aktrmansi lebik berpcnearuh terhadap likuiditas salaam. ArOnya, emmit yang melaparkan laba vans lebth talk ado kocenderungan nsiknya suborn perdagsagan it:Magma. Nainun pertgrman hipotesis menunjakkan hasil yang tidak sgmlikna Sclapuinya, basil up !meths' antra ants kr operas' dan tabu nkantanti menuttikkkan adanya kere/asi an moot tinge] dan signifikan, artinia (..Frubsdian pada arus kas oparasi akan mngakibMkan ptrubakAn pada laba akutansi. Formation terhadap hipotesis kedua tnenunjukkan balm,» rav-rata likatditas saham sesudah tanggal pengumunan lebtb hear Tian setkehn» pangamuman !alarms, knuangan. Flamm herdasarkan Ikeda hasilma tidak signifikan. Anima, terdapat sebagun keril investor yang bereaksi posiuf terhadap pengumumart arus kas oilman dan Irma altotansi dengnu inelakukan trasaksi belt The present research is intender to stedi, ar: to analyse I le influence of the operation cosh flow and ilia accounting profit on the stock liquidity at the taken Stock Itheliange (JIIX) The research was cooducted at the ISX using GS emitena as the samples based on Proportionate Stratified Bataan' Sampling and Lottery Method The data used in this research are the total amount of the operation cash flow and the accounting profit during the accounting period of I995, the announcemem dote of financial statement during the accounting aened of I995, the total amount of the trade shares, and ide iotal amours of the outstanding shares or listing. The observation was carried out in 5 days before and after the announstment of the financial statement Trading Voltme Activity was used Io measure the stack liquidity. The fast hypothesis was analyzed using the Path Analysis with Iktest and Hest. MIumwhtle, the second hypotheses were analyzed using the differencebetween tondos-test The result of the first hypothesis arthliisis shows that the accounting Profit has mte influence on the stock liquidity. It moans that the companies announcing more proofit tend 13 achieve the increascmcnt in their share trading vol woe Nevertheless, the hypothesis test shows insignificant result. Then, the result at correlation ten hetwerso the operation cash flow and the accounting profit shows very dose correlation and significant. It mean the: the change of the upon anon cash flow may chance the accounting profit. The second hypothesis test shows that the average stuck liqudity alter the annotheement oh the financial statement. Bag based on the difference between means test. the rosult is insignificant It means that some investors react posinvels to the announcement of the operation cash now std the accoutring omit by doing buying transaction