Cash Flow

PENGARUH INFORMASI LAPORAN ARUS KAS, LABA DAN SIZE
PERUSAHAAN TERHADAP ABNORMAL RETURN SAHAM PADA
PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK
INDONESIA
THE INFLUENCE OF THE INFORMATION OF CASH FLOW, EARNINGS
AND SIZE OF FIRM ON ABNORMAL STOCK RETURN
AT MANUFACTURING COMPANY LISTED
IN I NDONESIA STOCK EXCHANGE
Nurhidayah Djam’an*, Gagaring Pagalung, Tawakkal
Email *): [e-mail]
ABSTRACT
The aims of the research are to find out (1) the influence of cash flow from operational activities on abnormal stock return, (2) the influence of cash flow from investment activities on abnormal s tock return, (3) the influence of cash flow from financing activities on abnormal s tock return, (4) the influence of earnings on abnormal stock return, and (5) the influence of the size of firm on abnormal stock return. A total of 36 companies listed in Indonesia Stock
Exchange (BEI) were taken as samples by using purposive sampling method. Data from audited financial s tatements from years 2005 to 2010 were taken from www.idx.com. Meanwhile, research period c onsisted of 7 days c onsisting of 3 days before and 3 days after the publication of financial statements. The hypothes is were tested by using multiple linear regression.
The results of the research reveal that cash flows from operational activities, cash flows from investmen activities, earnings and firm size have a positive and s ignificant influence on abnormal stock return. Meanwhile, c ash flow from financing activities has a positive but insignificant influence on abnormal stock return.
ABSTRAK
Tujuan penelitian ini bertujuan mengetahui (1) pengaruh arus kas dari aktivitas operasi terhadap abnormal return saham, (2) pengaruh arus kas dari aktivitas investasi terhadap abnormal return saham, (3) pengaruh arus kas dari aktivitas pendanaan terhadap abnormal return s aham, (4) pengaruh laba terhadap abnormal return s aham, dan (5) pengaruh s ize perusahaan terhadap abnormal