PENGARUH PERKIRAAN AKRUAL DARI LABA OPERASI DAN ARUS KAS OPERASI TERHADAP RETURN SAHAM

The aims of this research are to know: (1) a positive effects of operating
income to stock return, (2) a positive effects of cash from operating to stock
return, and (3) a positive effects of accumulating content informations between
operating income and cash from operation to stock return. The final aims of this
research is to know a positive effects of accrual items on the operating income and
the cash from operations to stock return.
The research of this is manufacturing sector in period 2004 to 2010 by using
purposive sampling method. There are 234 companies fulfilling criterion as this
research sample. The results in this research show that the H1 and H3 show the
income operation and the acumulating content informations has no effect to stock
return. H2 shows that the cash flow operation have a positive and significant
influence to stock return. It shows that information cash from operation is more
relevant than from operating income. H4 shows that the accrual item from income
operation and cash from operations have a positive and significant influence to
stock return. It shows that the accrual component from income operating and cash
from operations provide more relevant information in making economic decisions.