Perbedaan Reaksi Pasar Atas Pengumuman Informasi Laba Antara Perusahaan Perata Dan Non-Perata Laba (Perusahaan Perbankan Dan Keuangan yang Terdaftar Di BEI)

Abstract

This study aimed to determine differences in the market reaction to the announcement of earnings information between companies income smoothers and non income smoothers in banking and financial companies listed on the Indonesia Stock Exchange (IDX). This type of research considered comparative study. The population in this study was the banking and financial companies listed on the Stock Exchange in 2007 until 2011. Samples was determined by purposive sampling method, in order to obtain 44 banking and financial companies that meet the criteria. Type of used data was secondary data obtained from www.idx.co.id. The used analytical method was the average difference test with test independent sample t-test using SPSS 17.0. The result showed that there is no difference of the market reaction between group income smoothers companies and non income smoothers. Based on the above results, it is suggested: (1) Future research should combine the method used to indicate the practice of income smoothing. (2) Further researcher, should use more sample from different industries. (3) Future researchers should also include other factors that influence the market reaction as seen through the stock price,such as dividend announcement, funding announcement and so on

Keywords: Income Smoothing, Market Reaction to The Announcement of Earnings