Pengaruh Manajemen Laba Terhadap Kinerja Pasar Perusahaan yang Melakukan Penawaran Publik Perdana (IPO) Di Bursa Efek Indonesia (Studi Pada Perusahaan Yang Melakukan IPO Di BEI Tahun 2007-2009)
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Institusion
STIE Indonesia Banking School
Author
Khasanah, Novi Annisak Uswatun
Subject
HF5601 Accounting
Datestamp
2024-07-16 08:13:03
Abstract :
This research was conducted to test the effect of earning management toward firm value(value IPO) when IPO and abnormal return after IPO. Examination of earning management conducted by using two approach, that is accrual earning management and real earning management. Accrual earning management in this study is using discretionary accruals which calculated by The Modified Jones Model and real earning management using Abnormal CFO as indicator of the existence of real earning management practices through sale manipulation. Sample which is used inn this reserch is consists 36 companies doing an IPO on the Indonesia Stock Exchange in 2007-2009. The result show that earning management during one year before IPO has significantly negative effect to firm value. Second, earning mangement during one year before IPO has not significant effect to cummulative abnormal return. Beside that, this study also show that size companies and net profit margin as control variabel has significant effect to firm value (value IPO) and cummulative abnormal return.
This research was conducted to test the effect of earning management toward firm value(value IPO) when IPO and abnormal return after IPO. Examination of earning management conducted by using two approach, that is accrual earning management and real earning management. Accrual earning management in this study is using discretionary accruals which calculated by The Modified Jones Model and real earning management using Abnormal CFO as indicator of the existence of real earning management practices through sale manipulation. Sample which is used inn this reserch is consists 36 companies doing an IPO on the Indonesia Stock Exchange in 2007-2009. The result show that earning management during one year before IPO has significantly negative effect to firm value. Second, earning mangement during one year before IPO has not significant effect to cummulative abnormal return. Beside that, this study also show that size companies and net profit margin as control variabel has significant effect to firm value (value IPO) and cummulative abnormal return.
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