Hubungan Antara Luas Ungkapan Sukarela dalam Laporan Tahunan dengan Earnings Response Coefficient dan Volume Perdagangan pada saat Pengumuman Laba  

Oleh:

Nugrahanti, Yeterina Widi

Jenis: Article from Journal - ilmiah nasional - tidak terakreditasi DIKTI
Dalam koleksi: Jurnal Ekonomi dan Bisnis (Dian Ekonomi) vol. 12 no. 2 (Sep. 2006), page 152-171.
Topik: voluntary disclosure; earnings response coefficient; shares trading volume

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ43.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study examines the relation between voluntary corporate disclosure published in annual report and the value relevance of earnings information, proxied by earnings response coefficient (ERC) and changes in shares trading volume around the earnings announcement. The purpose of this study is to investigate whether the variation in voluntary corporate disclosure affects the value relevance of earnings information. This study combines two research issues, namely the informativeness of earnings and the informativeness of disclosures, which have been separately investigated by previous studies. The hypothesis is that there is a negative association between voluntary corporate disclosure and the value relevance of earnings. The sample consist of 47 annual reports of companies listed on The Jakarta Stock Exchange as of December 31, 2002. To test the hypothesis, cumulative abnormal returns and cumulative abnormal shares trading volume were regressed against current earnings changes and disclosures index level. The results show that voluntary corporate disclosure have no negative effect on the value relevance of earnings. The posible reason is that voluntary disclosures in annual report insufficiently revealed the information about companies's future prospect.

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