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REAKSI PASAR ATAS ISU PADA PERISTIWA ACCOUNTING RESTATEMENT

Journal: Jurnal Riset Akuntansi dan Keuangan (Vol.1, No. 3)

Publication Date:

Authors : ;

Page : 230-243

Keywords : Accounting Restatement; Market Reaction;

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Abstract

Accounting restatement is used to be assumed as a negative signal in the capital market. This research is aimed to find out market reaction to accounting restatement in Indonesia. Specifically, the objective of this research is not only for empirically investigating market reaction in general but also for investigating the difference of market reaction based on the issue of the restatement. Using abnormal return and cumulative abnormal return as the proxy of market reaction, one sample, and two sample independent t-test was run to reach the objectives. 63 samples were obtained from the restatement event during 2009-2012. While event period was determined for 5 days around restatement date. The result shows that, in average, market positively react to accounting restatement. Further, the results indicate that market does not react differently to the issue of the restatement.

Last modified: 2017-08-15 04:16:07