ANALISIS PENGARUH EARNING QUALITY DAN MARKET TO BOOK RATIO TERHADAP RETURN SAHAM ( Studi Pada Perusahaan Manufaktur Yang Terdaftar Pada Bursa Efek Indonesia)
DOI:
https://doi.org/10.35591/wahana.v17i1.89Abstract
The purpose of this research is to analyse the effect of earning quality and market to book ratio on stock return. Using the sample of manufacturing companies listate in Indonesia Stock Exchange in the periode 2007-2010. The purposive sampling is used to collect 300 samples. The study fine that there is a positive effect of earning quality on stock return. The market to book ratio negatively affects stock return.
Keywords: earning quality,market to book ratio, stock return, earnings response coefficients (ERC)
Downloads
References
Ball, R., dan Brown, P. (1968). “An Empirical Evaluation of Accounting Income Numbers.†Journal Accounting Research.
Beaver, William, H. (1968). â€The Information Content of Annual Announcements.†Empirical Research in Accounting: Selected Studies.
Brown, S., dan Warner, J. (1985). “Using Daily Stock Returns.†Journal of Financial Economics 14, 3-31.
Chan, Konan. et al.. 2001. Earnings Quality and Stock Returns. National Bureau of Economic Research. Working Paper.
Cho, J. Y. dan Jung, K. (1991). “Earnings Response Coefficients: A Syntesis of Theory and Empirical Evidence.†Journal of Accounting Literature 10, 85-116.
Fama, E. F., dan K. R. French. 1992, The Cross Section of Expected Return, Journal of Finance, 47 pp 427-465, 1992.
Fama, E.F. dan French, K.R.n(1995). “Size and Book to Market Factors in Earnings and Returnsâ€, Journal of Finance, 50(1), hlm. 131-155.
Ghozali, I. (2005). “Aplikasi Analisis Multivariat dengan Program SPSSâ€. Edisi Kedua. Semarang: Badan Penerbit Universitas Diponegoro.
Gujarati, D. N. (2003). “Basic Econometricsâ€. 4th edition. McGraw-Hill, Singapore.
Husnan, S., dan Pudjiastuti, E. (1993). Dasar– Dasar Teori Portofolio dan Analisis
Sekuritas. UPP– AMP YKPN. Yogyakarta.
Husnan, S. (1997). Manajemen Keuangan Teori dan Penerapan (Keputusan Jangka Pendek). BPFE. Yogyakarta.
Jogiyanto. 2003. “Teori Portofolio dan Analisis Investasiâ€. BPFE. Yogyakarta.
Jones, Charles P., (1998), Investment, Analysis and Management, (6thed), John Wiley & Sons, New York.
Jensen, M., dan W. Meckling, (1976). “Theory of the Firm: Managerial Behavior, Agency, and Ownership Structure.†Journal of Financial Economics: 305360.
Kothari, S. P. dan R. G. Sloan. 1992. Information in Prices about future Earnings: Implications for Earnings Response Coefficients. Journal of Accounting and Economics: 143-171.
Rosenberg B, Reid K and Lanstein R. 1985. Persuasive evidence of market inefficiency. Journal of Portfolio Management 11:9-17.
Schall. L. D., and Pontiff. J., (1998). Book-tomarket ratios as predictors of market returns. Journal of Financial Economics, 49, 141–160
Sloan, R. G. 1996. “Do Stock Prices Fully Reflect Information in Accrual and Cash Flows About Future Earnings? The Accounting Review (July): 289315.
Tandelilin, E. (2001). â€Analisis Investasi dan Manajemen Portofolioâ€. Yogyakarta: BPFE.
Thomas L.Stober and Bernard Victor L,. 1989. The Nature and Amount of Information Cash Flows and Accruals. Accounting Review 64; 624-52.
Downloads
Published
Issue
Section
License
Copyright (c) 2019 Wahana
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
