RELEVANSI NILAI LABA AKUNTANSI AKRUAL DAN ARUS KAS OPERASI TERHADAP UNEXPECTED RETURN PADA EMITEN DI BURSA EFEK JAKARTA

Abstract

                                                 Abstract
Financial accounting information is used by potensial user to make
necessary economic decisions. However, with increased development,
accounting information will be necessary for making important decisions
in the capital market. The objective of this research is the examining the
value – relevance of earning, cash flow from operating activities, total
cash flow, and also the incremental of earning, cash flow from operating
activities , and total cash flow as reported under PSAK No.2 to unexpected
return. The value relevance is assessed by the cash flow from operation
disclosures influencing the investment decisions. As much as 20 firms
listed in LQ 45 Index in Jakarta Stock Exchange were taken as the sample
using provosive sampling method. that year have beed used in this
research are 2004, 2005 and 2006. the model examining the value
relevance of earning, cash flow from operations, total cost and in the
cremental value of them. The result of multivariate analysis on the overall
sample show that earning , cash flow operation and the incremental value
of them have not relevance return in 2004, 2005, and 2006.

Keywords: Earning, Cash Flow from operation and Unexpected Return