AKUNTANSI UNTUK INSTRUMEN KEUANGAN
On January 1, 2010 banking industry in Indonesia has been applying SFAS No.50 and SFAS No.55 revised 2006 adopted from IAS 32 and IAS 39. SFAS No.50 and SFAS No.55 revised 2006 are the most complicated standard. The standards also potentially create earnings volatility. The application of SFAS No.50...
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| Main Authors: | , |
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| Format: | Theses and Dissertations NonPeerReviewed |
| Published: |
[Yogyakarta] : Universitas Gadjah Mada
2013
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| Subjects: | |
| Online Access: | https://repository.ugm.ac.id/124549/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=64702 |
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| Summary: | On January 1, 2010 banking industry in Indonesia has been applying SFAS
No.50 and SFAS No.55 revised 2006 adopted from IAS 32 and IAS 39. SFAS No.50
and SFAS No.55 revised 2006 are the most complicated standard. The standards also
potentially create earnings volatility. The application of SFAS No.50 and SFAS
No.55 revised 2006 has strategic purpose specifically for inviting investors from
stock market and money market. However, there is no research explaining about the
impact of applying SFAS No.50 and SFAS No.55 revised 2006 toward investor�s
reactions in Indonesia.
The paper aims to examine the impact of banking industry in Indonesia after
applying SFAS No.50 and SFAS No.55 revised 2006. Specifically, this paper aim to
provide empirical evidences on the impacts of applying SFAS No.50 and SFAS
No.55 revised 2006 toward investor�s reactions in Indonesia. The sample used in this
research is 30 companies listed in Indonesian Stock Exchange (IDX) from period
January 1, 2010 until December 30, 2010. Researcher used event study approach with
-5+2 days research windows around the IDX announcement date .
It can be concluded from the t-test that company�s profitability was
significantly different after applying SFAS No.50-55 revised 2006. And from
regression analysis we can concluded that companies� performance also has an
impact on stock return in the announcement date and one day after it. And then it can
be concluded also from the regression result that the implementation of SFAS No.50
and SFAS No.55 revised 2006 statistically insignificant associated with investor
reaction. And there is no negative effect attributable to the implementation of SFAS
No.50 and SFAS No.55 revised 2006. The result shows that investors do not consider
the volatility from implementation SFAS No.50 and SFAS No.55 revised 2006 in
their decision making. The sample firms also reported an absolute cumulative effect
on income Rp388.276.908.115 which is positive |
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