Relevansi Nilai Informasi Akuntansi Laba dan Arus Kas dengan Nilai Pasar Saham Berbasis pada Siklus Hidup Perusahaan  

Oleh:

Yulianto, Ferry Agung ; Davianti, Arthik

Jenis: Article from Journal - ilmiah nasional - tidak terakreditasi DIKTI
Dalam koleksi: Jurnal Ekonomi dan Bisnis (Dian Ekonomi) vol. 12 no. 2 (Sep. 2006), page 183-204.
Topik: corporate life cycle; value-relevance; earning; cash flow

Ketersediaan

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

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Isi artikel

Value-relevance research Is an accounting research based on the relevance and reliability as qualitative characteristics of accounting information. The value relevance is tested by connecting the accounting figures to the market value of the corporate equity. Corporate life cycle consists of four stages. start-up, growth, maturity and decline. Prior research have found a relation between companies' life cycle and the value relevance of their financial statement. The objective of this study is to examine the impact of corporate life cycle at the stages of start-up, growth, maturity and decline on the value-relevance of earnings and cash flows. The sample shows that there is no firm on the start-up stage. Meanwhile, the growth stage is represented by 28 observations, mature stage 28 observations, and decline stage 38 observations. In the hypothesis testing, multivariate regression analysis is used. The results of this study provide evidence that corporate life-cycle influences the val ue-relevance of earnings and cash flows. Earnings and cash flows from operating activities appear to be value-relevant at growth stage. The cash flow of operating activities, the cash flow of investing activities, and that of financing activities appear to be value-relevant at mature stage. At the decline stage all variables are value relevant to the market value of equity.

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