REAKSI PASAR ATAS KINERJA FINANSIAL DAN KETEPATAN PUBLIKASI LAPORAN KEUANGAN

Suratini, Suratini and Nikmah, Nikmah (2014) REAKSI PASAR ATAS KINERJA FINANSIAL DAN KETEPATAN PUBLIKASI LAPORAN KEUANGAN. Akuntasi, 2 (1). ISSN 2303-0356

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Abstract

The purposes of this study are: (1) to examine the effect of financial performance on abnormal returns and (2) to investigate whether there are some differences between financial performance and abnormal returns of the companies that provide in-time financial reports and those that provide late financial reports. Measures of financial performance include the changes of return on investment (ROI), return on equity (ROE), earning per share (EPS) and leverage ratio (LEV).Using sample of 46 companies non financial listed in Bursa Efek Indonesia (BEI)and the 1998-2004 analysis periods, results of this study show that: (1) among the four measures of financial performance, only change of LEV has significant effect on abnormal returns, and (2) financial performance and abnormal returns of the in-time reporting companies not differences with financial performance and abnormal returns of the late reporting companies.

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