Pengaruh Income Smoothing terhadap Reaksi Pasar Atas Pengumuman Informasi Laba Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

Marcelina, Marcelina (0651430) (2010) Pengaruh Income Smoothing terhadap Reaksi Pasar Atas Pengumuman Informasi Laba Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. Undergraduate thesis, Universitas Kristen Maranatha.

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Abstract

This study is intended to understand the effect of income smoothing action to the market reaction of the income information announcement from the manufacturing firms that are listed in Indonesia Stock Exchange. The classification between the income smoothing and non income smoothing is using the Eckel index and the market reaction is measured by Cummulative Abnormal Return (CAR) proxy. The samples that was used are all manufacturing firms listed in the Indonesia Stock Exchange around year 2005 to 2007. The selection of research samples is done by using purposive sampling method. The number of samples that we used were 24 companies that meet the criteria. The data analysis method is using simple linear regression analysis. This method use the income smoothing as an independent variable and the market reaction is measured by CAR proxy as a dependent variable. Before testing the effects, we conducted test using a wilcoxon test. The result showed no difference between the market reaction about 10 days before and 10 days after the profit announcement with Pvalue = 0,799. We are also using the Mann-Whitney test and the result showed that there is a difference of market reaction between smoothing income and non smoothing income with Pvalue = 0,008. After those tests, we conduct a simple linear regression test and obtain the equation Y = 0,064-0,043X, and it shows that there is negative effects of income smoothing to the market reaction for the corporate income announcement. For the further research, it is expected to increase the number of research samples, add the proxy for measuring the market reaction, and use the other model of indices in the smoothing income classification, and to increase the observation period.

Item Type: Thesis (Undergraduate)
Uncontrolled Keywords: income smoothing, market reaction, and Cummulative Abnormal Return (CAR).
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Economics > 51 Accounting Department
Depositing User: Perpustakaan Maranatha
Date Deposited: 16 Jun 2015 09:17
Last Modified: 16 Jun 2015 09:17
URI: http://repository.maranatha.edu/id/eprint/13179

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