Relevansi Nilai Earnings dengan Pendekatan Terintegrasi: Hubungan Nonlinier
The research shows that regression coefficients of earnings are not significants before, when, and after the announcement of financial statements, so that H1 is rejectÂ¬ed or there is no nonlinear relationship between earnings and stock return, except in 2000 (V17), the regression coefficient of earnings is significant, so that H1 is acÂ¬cepted or there is nonlinear reÂ¬lationship between earnings and stock return. R2 (R-squared) along the observation period (1999-2002) has changed. The results indicate that value relevance of earnings has changed year to year.
Based on the result of the research, it can be concluded that earnings information begin to lose their value relevance, so the investor is suggested to use another information, such as cash flow information in decision making of investment.
Keywords: earnings, stock return, non-linear, value relevance
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ISSN 1410-2420 (print), 2528-6528 (online)
Published by Accounting Department, Faculty of Economics, Islamic University of Indonesia and Supported by IAI-KAPd (Ikatan Akuntan Indonesia - Kompartemen Akuntan Pendidik)
JAAI pada http://journal.uii.ac.id/index.php/JAAI/ terlisensi oleh Creative Commons Attribution 4.0 International License.