RELEVANSI NILAI INFORMASI AKUNTANSI PASAR SAHAM: PROBLEMA DAN PELUANG RISET
ABSTRACT: This paper reviews
the development, theoritical basis, empirical studies and crucial issues of
value relevance literature over last two decades. This review is crucial because
there is a considerable debate in recently ac-counting literature that the
value relevance of financial statements numbers to investors has declined or
lost a significant portion over time. However, numerous empirical studies
investigated the claim reported inconclusive empirical results. The review
finds that there are two main problems with respect to those mixed results.
First, it is related to the misspecification of using the theoretical basis
between valuation theory plus contextual ac-counting arguments and market
efficiency theory. The other problem is related to the misspecification of applying
the measurement methodology in assessing the value relevance of accounting
numbers to stock markets. The review also finds that the declining of value relevance
of accounting numbers over time is triggered by the ignorance of intangible
assets, dramatically canges of business environment, and raise of competing
information sources in most empirical studies. For the future research, this
study suggests to the research-ers to consider accurately the identified
factors, besides the firm specific factors such as systematic risk, firm size,
corporate governance and firm quality.
Keywords: value relevance,
explanatory power, re-turn model, price model, association study, dan intangible assets
Penulis: Andreas Lako
Kode Jurnal: jpmanajemendd070025
Pesan jurnal yang anda butuhkan disini.... >>> KLIK DISINI <<<
