REAKSI PASAR TERHADAP KUALITAS LABA: PENGUJIAN BERBASIS KANDUNGAN LABA DAN PERATA LABA.

YAP, CAROLINE (2008) REAKSI PASAR TERHADAP KUALITAS LABA: PENGUJIAN BERBASIS KANDUNGAN LABA DAN PERATA LABA. Other thesis, Prodi Akuntansi Unika Seogijapranata.

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Abstract

The objective of this study is to analyze the market reaction and the differences between high-earning quality and low-earnings quality. And also analyze the market reaction and the differences between income smoothing and non-income smoothing. This issue is crucial to be analyzed because earnings is the most important thing in the financial statement. In another word, earnings is the one of the potential information for the internal and external users. The proxy of the market reaction in this study is abnormal return. Whereas, earnings quality is measured by higher (lower) transitory earnings. If the transitory earnings is high, we can say that earnings quality is low. On the other hand, if transitory earnings is low, we can say that earnings quality is high. Income smoothing in this study is measured with index Eckel. This study applies Efficient Market Hypothesis (EMH). This study hypothesis: First, the market reaction for high earnings quality is bigger than the market reaction for low earnings quality. Second, there is a significant difference between the market reaction at high earnings quality and low earnings quality. Third, the market reaction for income smoothing is bigger than the market reaction for non-income smoothing. Fourth, there is a significant difference between market reaction for income smoothing and nonincome smoothing. This study using sample from list manufactured firms at Jakarta Stock Exchange (JSX) over 2002-2004. The results indicate that: first, the market reacts positively to the earnings announcement dan statistically significant at level 1%. Second, at high earnings quality, the market reacts positively and significant at level 1%. And at low earnings quality, the market reacts positively and significant at level 5% (accept Ha1a). Third, at income smoothing, the market reacts positively dan significant at level 1%. But at non-income smoothing, the market reacts negatively (accept Ha2a). Fourth, based on the test difference significance, hypothesis Ha1b is accepted. Fifth, based on the test difference significance, hypothesis Ha1b is rejected.

Item Type: Thesis (Other)
Subjects: > 650 Management > 658 Management
> 650 Management > 658 Management > Executive management > Total Quality Management
Divisions: Faculty of Economics and Business > Department of Accounting
Depositing User: Mrs Christiana Sundari
Date Deposited: 17 Sep 2015 12:39
Last Modified: 17 Sep 2015 12:39
URI: http://repository.unika.ac.id/id/eprint/2817

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