PENGARUH INFORMASI ARUS KAS TERHADAP HARGA SAHAM YANG DIMODERASI OLEH INFLASI PADA PERUSAHAAN MANUFAKTUR DI BEI
ABSTRACT: The aim of research
is to observe the effects of cash flow information that consists of total cash
flow, cashflow from operation activities, cash flow from investing activities,
and cash flow from financing activities to the stock price in which before and
after moderated by inflation. This research uses 181 observations. The sample
used in this research consists of manufacturing companies which listed in the
Indonesian Stock Exchange from 2006 until 2010 and included in ICMD from 2005
until 2010. Data are analyzed by using multiple regressions analysis. The
results of data analysis show that cash flow information that influences the stock
price are total cash flow, cash flow from operating activities, and cash flow
from investing activities. It means that cash flow information has the benefits
to the investors. Meanwhile, cash flow from financing activities has no
contribution to the stock price it does not have the benefits to the investors.
Total cash flow has a positive effect on the stock price. Cash flow from
operating activities has a positive effect on thestock price. Cash flow from
investing activities has a negative effect on the stock price. The level of
inflation moderates the effect of cash flow information on the stock price. It
proves that inflation gives positive or negative effects toward cash flow
information which is used by investors in taking the investment decision and this
can be showed from the increasing or decreasingof the stock price.
Penulis: Danum Margaretna
Kode Jurnal: jpakuntansidd151124
