RELEVANSI NILAI DARI ALTERNATIF UKURAN KINERJA AKUNTANSI: STUDI EMPIRIS INDONESIA

Julita, Felicia and Nikmah, Nikmah (2012) RELEVANSI NILAI DARI ALTERNATIF UKURAN KINERJA AKUNTANSI: STUDI EMPIRIS INDONESIA. Undergraduated thesis, Fakultas Ekonomi UNIB.

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Abstract

Published financial statements are an important source of information needed by the company internally and externally. Investors as external uses of accounting information in financial statements to support the investment decision. The quality of financial reports will be higher if the value relevance of accounting information. The purpose of this study was to test the value relevance of alternative accounting performance measures including total revenue, sub-item accounting profit (gross profit, operating income, earning before tax, net income), total cash flow and book value of equity to the return of shares in the Indonesia Stock Exchange (BEI). This study was conducted at the manufacturing companies listed on the Stock Exchange in the period 2006-2010. Sampling technique based on purposive sampling to obtain a sample of 58 companies. analytical model used is multiple regression models to determine the relevance of the value of each alternative accounting performance measures in explaining stock returns against. In addition, to determine the ability of information in explaining the variability of stock returns or explanatory power of accounting information then count adjusted R-Square. This study states that the total revenue, operating income, gross profit, and the book has a relevance value, while the earning before tax, net income and total cash flow does not have relevance in explaining the stock returns. This study also shows that total revenues have the greatest explanatory power, or said the most relevant, followed by the book value of equity, operating income, gross profit, total revenue, and net income. Earning before tax anda total cash flow have the smallest explanatory power than other information.

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