Reaksi Pasar Saham Atas Unexpected Earnings Dan Besaran (Magnitude) Unexpected Earnings
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Institusion
STIE Indonesia Banking School
Author
Fikri, Omar
Subject
HF5601 Accounting
Datestamp
2024-07-16 03:46:34
Abstract :
This research has a purpose to provide an empirical result of information content of financial statement, especially earnings. Variable that being used in this research are unexpected earnings (UE) and abnormal return of stock (AR). This research took places in Indonesia Stock Exchange as the object with total observation is 66 earnings publications. Earnings variable that being used in this research are operating income (01), net income (Nl), and cash flows from operations (CFO). The result shows that unexpected earnings has information content that makes stock markets react, where the bad news (negatif UE) has more sensitifly than the good news (positif UE). Meanwhile, not only the sign of UE, but the magnitude of UE also has implication on the reaction. keyword: unexpected earnings, abnormal return, magnitude, operating income, net income, and cash flows from operations.
This research has a purpose to provide an empirical result of information content of financial statement, especially earnings. Variable that being used in this research are unexpected earnings (UE) and abnormal return of stock (AR). This research took places in Indonesia Stock Exchange as the object with total observation is 66 earnings publications. Earnings variable that being used in this research are operating income (01), net income (Nl), and cash flows from operations (CFO). The result shows that unexpected earnings has information content that makes stock markets react, where the bad news (negatif UE) has more sensitifly than the good news (positif UE). Meanwhile, not only the sign of UE, but the magnitude of UE also has implication on the reaction. keyword: unexpected earnings, abnormal return, magnitude, operating income, net income, and cash flows from operations.
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