PENGARUH MANAJEMEN LABA DAN EARNING TERHADAP RETURN SAHAM

Abstract

This research refer from research conducted by Gul, Leung And Srinindhi (2000) because motivating to the research gap that happened with a few previous researcher. Target of this research is to analyze earning influence, Non Discretionary Accrual and also third interaction of the variable with control variable (IOS, debt ratio, size, beta, profit persistence and industrial group) to Stock Return at go public companies in Indonesia Stock Exchange. Population in this research is go public companies and enlist in Indonesia Stock Exchange in the year 2003 - 2006 counted 343 company. Research sample counted 152 manufacturing industry use sampling purposive method that is intake of data pursuant to certain criterion. Result of research of first model obtained that factors having an effect on positive to share return at first model that is EPS and Persistensi Laba and other Variable (IOS, Ratio Debt, Size, Beta, and Industrial Group) do not have an effect on to stock return. While at examination of EPS which interaction with control variable show result of no variable inexistence having an effect on significant to stock return. Result of both research obtained that no variable having an effect on positive to stock return, good of independent variable and also control variable. While at examination of EPS which interaction with variable control also show result of no variable inexistence having an effect on significant to tock return. Result of research of third model obtained that factors having an effect on positive to stock return at third model that is profit persistence and Variable having an effect on negativity to stock return that is industrial group. And other variable (Non Discretionary Accrual, IOS, Ratio Debt, Size, and Beta) do not have an effect on to stock return. While at examination of Non Discretionary Accrual which is interaction with control variable show only one interaction variable that is nda with industrial group (nda*kelompok industri), while interaction of Non Discretionary Accrual with obtained by other variable influence inexistence which significant to stock return.