PENGARUH PERATAAN LABA TERHADAP RESPON PASAR DENGAN KUALITAS AUDITOR SEBAGAI VARIABEL PEMODERASI PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK JAKARTA
Daftar Isi:
- Income smoothing is a common practice done by a management to reduce profit fluctuation and to show a better performance of the management. In order to avoid misleading information of a financial report, an audit is necessary as a mechanism of supervision and control. This research is aimed to analyze and examine the impact of income smoothing measured by eckel index towards market response which is assumed at cumulative abnormal return. Besides, this research also includes the auditor quality as a variable which moderates the link between income smoothing and market response. The auditor quality is represented according to the volume of market share, in which research the auditors who are classified as qualified auditors are KAP Prasetyo, Sarwoko & Sandjaja and KAP Deloitte. The sample of the research is a manufacture listed at BEJ (Jakarta Stock Exchange), by taking a 3-year-research from 2003 to 2005, with 189 sub samples, while the statistic method used is double linear regression, such as f test and t test. The regression test shows that income smoothing influences market response. This shows that the investors at BEJ are responsive to income smoothing, whereas the test of the influence of auditor quality shows that the auditor quality is a variable which shall strengthen the link between income smoothing and market response, meaning that the investors at BEJ not only consider the income smoothing, but the auditor quality as well.