ARTIKEL PENGARUH KEANDALAN AKRUAL TERHADAP PERSISTENSI LABA DAN HARGA SAHAM (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI Selama Periode 2010-2014)

Poppy Melani Ooriza - Program Studi Akuntansi Fakultas Ekonomi Universitas Negeri Padang

Abstract


This study examine the effect of accrual reliability to earning persistence and stock price, draws on research by Richardson et al. (2005) and Lovelinez and Siti (2012). The population in this study is manufactury company listed on the Indonesia Stock Exchange (IDX) period of 2010-2014. The sample in this study is determined by purposive sampling with 71 companies. Predicted that less reliability of the accrual component, lead to lower the earnings persistence. Lower earnings persistence can not be anticipated by investors leading to security mispricing. The results confirm the prediction that some components of accruals, such as changes in operating assets and current financial liability have different earnings persistence based on the level of reliability. Changes in short-term investments are not anticipated by investors, resulting in a negative stock returns which reflects the low reliability of the accrual components on earnings.

Keywords : Accrual Reliability, Earnings Persistence, Stock Price


Full Text:

PDF

References


Boubakri, Fatma. 2012. The Rela¬t¬i¬on¬-ship Between Accruals Qu¬a¬l-ity, Earnings Persistence and A¬ccruals Anomaly in the C¬a¬n-adian Context. Inter¬na¬t¬i¬o¬nal Journal of Economics and Finance Vol. 4, No. 6.

Dechow, P., & I. Dichev. 2002. The –Q¬u¬¬ality of Accruals and Ear¬¬-nings: The Role of Acc¬ru¬al E¬-s¬timation Errors. The Ac¬c¬o¬u-nting Review, 77 (Sup¬p¬l¬e¬m¬e¬n-t), 35-59.

Dwi, Martani, dkk. 2012. Akuntansi Ke¬¬uangan Menengah Be¬r¬b¬a-si¬s PSAK (PSAK Konvergensi I¬FRS) Buku 1. Jakarta: Sa¬lem¬-ba Empat.

Eduardus, Tandelilin. 2010. Analisis I¬n¬¬vestasi dan Manajemen P¬o-r¬¬t¬ofolio. Yogyakarta: BPFE.

Erni, Marsella. 2012. Pengaruh Kua¬l-i¬tas Audit pada Anomali A-kru¬al. Skripsi Universitas In¬d¬-o¬n¬esia.

Fama, Eugene. 1970. Efficient C¬a¬p¬i-ta¬l Markets–A Review of Th¬e-o¬¬¬ry and Empirical Work. Jo¬u-r¬nal of Finance Vol. 25, No. 2.

Ghozali, I. 2009. Aplikasi Analisis M¬¬u¬ltivariate dengan P¬r¬o¬¬gr¬-a¬m SPSS. Badan Pener¬bit U¬n¬iversitas Diponegoro.

Gujarati, Damodar. 2007. Ek¬o¬n¬o¬m¬e-tr¬ika Dasar. Jakarta: Erlan¬g-ga¬.

Hans, Kartikahadi, dkk. 2012. Aku¬n-ta¬nsi Keuangan Berda¬sar¬ka¬n S¬A¬K Berbasis IFRS. Jakar¬ta: S¬a¬lemba Empat.

I, Made Andi Suwandika & Ida B¬a-gu¬s Putra Astika. 2013. “Pe-ng¬¬a¬ruh Perbedaan Laba A-kun¬¬t¬a¬n¬si, Laba Fiskal, Ting¬kat Hu¬t¬a¬ng Pada Persistensi La-ba.” E¬-¬Jurnal Akuntansi U¬n¬i¬v-e¬rs¬i¬t¬¬as Udayana, 5(1), 196 - 214.

Irham, Fahmi. 2011. Manajemen Pe-n¬¬gambilan Keputusan. Ban-du¬ng: Alfabeta.

Jensen, M.C., & Meckling, W.H.. 19-7¬6. Theory of the Firm: Ma¬-nagerial Behavior, Agen¬cy C-osts and Ownership St¬ru¬c¬t¬u¬re. Journal of Financial Ec¬¬o¬-nomics, October, 1976, V. 3, N¬o. 4, pp. 305-360.

Johnson, L. T. 2005. Relevance and R¬e¬liability. FASB.

Lovelinez, Briliane & Siti Nu¬r¬w¬a¬ni-ng¬sih Harahap. 2012. “Kean-d¬a¬¬lan Akrual Terhadap Persi¬s-t¬e¬n¬si Laba dan Harga Sa-ham.” Simpo¬sium Nasioanal A¬kunt¬a¬¬n¬¬s¬i 15, Banjarmasin.

Mety, Nuraini. 2014. Analisis Fak¬tor¬-¬F¬aktor Penentu Persis¬ten¬si L-a¬ba. Skripsi Universitas Di¬¬p¬o-negoro.

Penman, S.H. 2001. On Comparing C¬a¬¬sh Flow and Accrual A¬c¬c¬o-u¬nting Models For Use in E¬q-uity Valuation. Working pa¬p-er, www.ssrn.com.

Richardson, S., Sloan, R. G., So¬l¬i-man¬, M. T., & Tuna, I. 2005. A¬¬c¬c¬r¬ual Reliability, Earning Pe¬r¬¬sistence, and Stock Price¬s. J¬o¬¬urnal of Accounting and E-c¬o¬n¬omics 39 , 437-485.

Scott, W.R. 2009. Financial Ac¬c¬o¬u¬n-t¬ing Theory Fifth Edition. To¬¬¬-ronto: Pearson Prentice H¬a¬l¬l.

Sloan, R.G. 1996. Do Stock Prices Fu¬¬¬l¬ly Reflect Information in A-c¬¬c¬ruals and Cash Flow A¬bout F¬u¬ture Earnings?. The A¬c¬c¬o¬u¬-n¬ting Review, 71 (3), 289-3¬1¬¬5.

Subramanyam, K.R. dan John J. W¬i-ld¬. 2010. Analisis Laporan Ke¬u¬angan Buku 1. Terje¬ma-ha¬n D¬e¬wi Yanti. Jakar¬ta¬:Sa-lem¬ba ¬Empat.

Suriani, Ginting & Suriany. 2013. “A¬¬nalisis Faktor-Faktor yang M¬empengaruhi Harga Saham pa¬da Perusahaan Manufaktur di¬ Bursa Efek Indonesia.” Jur¬nal Wira Ekonomi Mikro¬sil V¬olume 3 nomor 02.

Suwardjono. 2005. Teori Akuntansi E¬¬d¬isi Ketiga, Perekayasaan Pe¬¬¬laporan Keuangan. Yogya-k¬a¬r¬ta: BPFE.

Walter, T. Harrison Jr. 2011. A¬k¬u¬n¬tan-s¬i ¬Keuangan Interna¬ti¬o¬na¬l Fi¬nancial Reporting St¬a¬n-dards¬-IFRS Edisi Kedela¬pan Jilid ¬I. Terjemahan Gina G¬a¬-nia. Jakarta: Penerbit Er¬la¬n-gga.

Wijayanti, H.T. 2006. “Analisis P¬e-ng¬aruh Perbedaan Antara L¬a¬¬¬¬ba Akuntansi dan Laba Fi¬s¬k¬al Terhadap Persistensi L¬a¬ba, Akrual dan Arus K¬a¬s¬.-” Simposium Nasional A¬ku-n¬tansi 9, Padang.

Wing, Winarno. 2009. Analisis E¬k¬o¬n-ometrika dan Statistika de¬-ngan Eviews. Edisi Ke¬du¬a. Y¬o¬gyakarta: UPP STI¬M Y-K¬¬PN.

Yusnaini. 2011. “ Agency Theory da-n¬ Management Control S¬y¬s¬t-ems Dalam Konteks B¬u¬d¬a¬y¬a Asia.”Jurnal Ekonomi da¬¬n Informasi Akuntansi (Je¬¬n¬-ius), Vol. 1 No. 1.

Zaenal, Fanani. 2010. Analisis Fa¬k-tor-Faktor Penentu Persistensi ¬Laba. Jurnal Akuntansi dan Ke¬uangan Indonesia, 7 (1), pp¬: 109-123