PENGARUH MANAJEMEN LABA TERHADAP REAKSI PASAR PADA PERUSAHAAN MANUFAKTUR GO PUBLIK DI BURSA EFEK INDONESIA

Reza Armanda

Abstract


Financial report is one of information source in fundamental analysis used by investor to evaluate company?s financial position and performance. Financial report arranged by using accrual basic because it is rationally and fairly in reflecting company?s financial condition manifestly, but on the other side it provides deliverance to management in choosing accounting method as long it is not out of line of occurred Financial Accounting Standard rule. This deliverance frequently used by management to do a dysfunctional behavior which is modify the financial report to produce desirous amount of profit with definite aim known as profit management.
This research, head for knowing market reaction toward profit management action done by manufactured company registered at BEI. Market reaction measured by using abnormal return value, meanwhile, profit management measured by using modified Jones model.
Analysis in this research is obtained by using simple regression as much as 53 companies and three years (2006 ? 2008) observation. Testing result shows that profit management is not influent significantly toward market reaction.

 

Keyword : dasar akrual, manajemen laba, reaksi pasar, return tidak normal


Keywords


dasar akrual; manajemen laba; reaksi pasar; return tidak normal