Reaksi Investor Atas Relevansi Informasi Arus Kas Dan Laba Akrual pada Laporan Keuangan Perusahaan

Muhammad Imam Sundarta, Azolla Degita Azis, Anggita Citra Dewi

Abstract


This study aims to determine whether cash flows and accrual earnings affect on stock returns that contained information about investors reaction in manufacturing industries on the Indonesia Stock Exchange from the 2013-2017 period. This research is a quantitative study using secondary data in the form of financial reports. The data analysis technique used is multiple regression analysis. The results of this study indicate that the cash flow statement has no effect on stock returns, while accrual earnings have a positive effect on stock returns. This finding can be one of the additional literature in the field of financial accounting because investors see the earnings information contained in the income statement compared to the cash flow statement that is reflected in stock returns.


Keywords


Cash Flow Information; Accrual Earnings; Stock Return

Full Text:

PDF

References


Anwar, A. (2014). Pengaruh Arus Kas dari Aktivitas Operasi dan Laba Akuntansi Terhadap Return Saham Perusahaan Industri Manufaktur yang terdaftar di BEI. Jurnal Akuntansi, 2, 3.

Ardiansyah, A, Ali, M., & Djaya, Y. (2012). Hubungan Informasi Komponen Arus Kas dan Return on Invesment terhadap Return Saham. Skripsi: Universitas Hasanuddin, Makassar.

Bawono, A. D. B., Ramadhanti, M., & Kurniawati, L. (2020). Earnings and Cash Flow Information on Its Value Relevance by The Book Value. Riset Akuntansi dan Keuangan Indonesia, 5(1), 46-53.

Ernayani, R., Prihandoyo, C., & Abdiannur. (2018). Perubahan Arus Kas dan Pengaruhnya terhadap Return Saham. Jurnal Sosial Humaniora dan Pendidikan, 2, 1.

Hung-Shu, F., Yan-Ting, L., & Chen, C. L. (2015). The Effect of Real Earnings Management on the Value-Relevance of Accounting Information. Tai Da Guan Li Lun Cong, 25(3), 163.

Kasmiati, M., & Santosa, P. W. (2019). The effect of earning information, cash flow componens, firnancing decision, and Stock Return: Empirical Evidence on Indonesia stock exchange. Journal of Economics, Business & Accountancy Ventura, 22(2), 157-166.

Kumar, K. R., & Krishnan, G. V. (2008). The value-relevance of cash flows and accruals: The role of investment opportunities. The Accounting Review, 83(4), 997-1040.

Nurmalasari, S.A.D., & Yulianto, A. (2015). Analisis Pengaruh Perubahan Arus Kas Terhadap Return Saham. Management Analysis Journal, 4, (4), 289-300.

Ginting, S. (2012). Analisis Pengaruh Pertumbuhan Arus Kas dan Profitabilitas terhadap Return Saham pada Perusahaan LQ45 di Bursa Efek Indonesia. Jurnal Wira Ekonomi Mikroskil, 2, 1, 39-48.

Ramnath, S. (2002). Investor and Analyst Reactions to Earnings Announcements of Related Firms: An Empirical Analysis. Journal of Accounting Research, 40, 5, 1351-1376.

Rasyid, M. A., & Subekti, I. (2014). The Effect Of Real Earnings Management On The Value Relevance Of Earnings, Book Value Of Equity, And Cash Flow From Operations. Jurnal Ilmiah Mahasiswa FEB, 3(1).

Richardson, S. A., Sloan, R. G., Soliman, M. T., & Tuna, I. (2005). Accrual reliability, earnings persistence and stock prices. Journal of accounting and economics, 39(3), 437-485.

Sloan, R.G. (1996). Do Stock Prices Fully Reflect Information in Accruals and Cash Flows About Future Earnings?. The Accounting Review, 71, 3, 289-315.




DOI: http://dx.doi.org/10.33087/jiubj.v21i2.1516

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

ADRESS JOURNAL

JURNAL ILMIAH UNIVERSITAS BATANGHARI JAMBI (JIUBJ)
Published by Lembaga Penelitian dan Pengabdian kepada Masyarakat
Adress: Jl.Slamet Ryadi, Broni-Jambi, Kec.Telanaipura, Kodepos: 36122, email: jiubj.unbari@gmail.com, Phone: 0741-670700

Creative Commons License This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.