MANFAAT INFORMASI AKUNTANSI UNTUK MEMPREDIKSI RISIKO INVESTASI SAHAM BERDASARKAN PENDEKATAN DECISION USEFULNESS
ABSTRACT: This study is to
explain the usefulness of accounting information to predict the risk of stock
investment based on the decision usefulness approach, technically shown through
the effect of variable accounting on risk of stock investment. Based on analysis
of 13 companies over a period of five years (2001-2005) by using multiple
linear regression, the model shows that the current ratio significantly
influence the risk of stock investment. However, signs of regression
coefficients are not consistent with the predictions of the study. The results
indicate that the current ratio has positive influence on the risk of stock
investment. F test shows that the regression model with the current ratio as
independent variables significantly influence the risk of stock investment.
Meanwhile, the regression model with independent variables of current ratio,
debt equity ratio, total assets turnover, return on investment, sales growth,
and price earnings ratio do not significantly influence the risk of stock
investment. The findings suggest that accounting information has relatively
little ability to explain variations in risk of stock investment. The
validation of regression models shows no difference between the real investment
risk and investment risk prediction, meaning that accounting information is
useful for predicting the risk of stock investment.
Penulis: Zarah Puspitaningtyas
Kode Jurnal: jpakuntansidd1000047
