PENGARUH RELEVANSI LABA AKUNTANSI TERHADAP RETURN SAHAM DENGAN RISIKO PERUSAHAAN DAN LEVERAGE SEBAGAI VARIABE PEMODERASI PADA PERUSAHAAN MANUFAKTUR DI BEI
ABSTRACT: Operations
performance of company is measured based on the accounting earnings generated
in a period. Accounting earnings is one reference for investors in making
investment decisions. Relevance of accounting earnings shows the useful of
accounting earnings by investors as a reference for investment decisions. The
reaction of investors on the relevance of accounting earnings can be seen from
the stock return. Some things affecting the relevance of accounting income on
stock r eturns is the firm risk and leverage. This study aims to examine the
effect of the relevance of accounting earnings to stock returns with firm risk
and leverage as a moderator variable. The study design is quantitative. The
object of research is manufacturing industries listed in Indonesia Stock
Exchange in the year 2008 -2010 as many as 50 companies selected by purposive
sampling technique. Source data obtained from the Indonesia Stock Exchange.
Techniques of data analysis was performed with multiple linear regression analysis.
The results showed that the relevance of accounting earnings do not affect the
return perusaaan and leverage as a moderator variable has no impact on the
influence of the relevance of accounting earnings to stock returns. Meanwhile,
firm risk is weakening the influence of relevance of accounting earnings to
stock returns. This suggests that investors do not use only accounting earnings
as the reference for investment decisions.
Keywords: Relevance of
accounting earnings, Stock returns, F irm risk, Leverage
Penulis: CAROLINA MARGARETH
HARYANTO
Kode Jurnal: jpakuntansidd120101
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