FENOMENA TANGGAP LABA INVESTOR: studi Pada Sektor Properti di Bursa Efek Indonesia.

Hendang Tanusdjaja, Ishak Ramli
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Abstract

Tanggap laba pemegang saham terhadap informasi laba masih belum konsisten. Studi ini bertujuan memberikan bukti empiris dan kajian terhadap reaksi pemegang saham terhadap informasi laba yang dipublikasikan. Dengan menggunakan perusahaan properti yang tercatat di Bursa Efek Indonesia berdasarkan informasi yang dipublikasikan selama tahun 2010 sampai dengan 2014 data dianalisis menggunakan  Analisis General Linear Model guna menguji pengaruh Corporate Governance dengan dimensinya, leverage, dan profitabilitas  terhadap koefisien tanggap laba (earnings response coefficient). Hasilnya bahwa tanggap laba pemegang saham sektor properti terhadap informasi Good Corporate Governance (GCG) sangat lemah karena masih lemahnya praktek implementasi GCG di Indonesia sehingga sinyal/informasi implementasi GCG belum dapat menggerakkan pihak investor (principal) untuk memberikan respons terhadap informasi laba yang disampaikan oleh agen. Demikian juga terhadap informasi besarnya utang tanggap laba pemegang saham sangat lemah bahkan terhadap informasi profitabilitas tidak terdapat tanggap laba.

Keywords

Earning Response Coefficient (ERC); Good Corporate Governance; Leverage; Profitabilitas

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