Kembali | Vol 7, No 3 (2018)
Article
Analisis Reaksi Pasar Modal Indonesia atas Publikasi Laporan Keuangan Tahunan Emiten
Lintang Puspa Risa dan Christiyaningsih Budiwati
Abstract
Keywords
financial statements, market reaction, cumulative abnormal return
Lintang Puspa Risa dan Christiyaningsih Budiwati
Abstract
Investors can use a lot of available informations as a consideration to make investment decisions. The financial statement is one of those informations which contains a summary of the company’s financial performance. The aim of this study is to investigate market reaction to the publication of financial statements based on new regulation of Financial Services Authority that applied to financial statements starting from fiscal year 2016. The research sample consist of 42 LQ-45 category stocks listed in Indonesia Stock Exchange. T-test used to test the hypothesis. This test shows there is market reaction that occurs due to significant and positive cumulative abnormal return on 5th day after the publication of financial statements.
Keywords
financial statements, market reaction, cumulative abnormal return
