THE EFFECT OF EARNING SURPRISE AND EARNING PER SHARE ON STOCK RETURN
DOI:
https://doi.org/10.33086/bfj.v7i1.2740Keywords:
earning surprise, earning per share , stock returnAbstract
A lot of investors are currently focusing on corporate earnings information, resulting on stock market reacts more strongly to unexpected earnings. The reaction is caused by several factors such as Earning Surprise (ES) and Earning per Share (EPS). Based on these, the research was conducted to find out how ES and EPS affect on stock return of manufacturing companies listed on Indonesia Stock Exchange in 2016-2018. This research is quantitative descriptive with associative research methods. The data used in this research were annual reports of manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period 2016-2018. Sampling in this research was conducted using a purposive sampling method. The results showed that simultaneusly and partially EPS and ES variables have no effect
Downloads
References
Ang, Robert. 1997. Buku Pintar Pasar Modal Indonesia. Mediasoft Indonesia No. pp.
Anshori, Muslich, & Iswati, Sri. 2009. Buku Ajar Metodolgi Penelitian Kuantitatif. Surabaya: Airlangga University Press.
Arikunto, S. 2006. Prosedur Penelitian Suatu Pendekatan Praktis Edisi Revisi Vi. Jakarta: PT. Rineka Cipta.
Ball, Ray, & Brown, Philip. 1968. An Empirical Evaluation of Accounting Income Numbers. Journal of accounting research No. pp. 159-178.
Ghozali, Imam. 2011. Aplikasi Analisis Mulitivariate Dengan Program Ibm Spss 19. Semarang: Badan Penerbit Universitas Diponegoro.
Goetzmann, William N, & Garstka, Stanley J. 1999. The Development of Corporate Performance Measures: Benchmarks before Eva: Yale ICF Working Paper.
Hartono, Jogiyanto. 2010. Studi Peristiwa: Menguji Reaksi Pasar Modal Akibat Suatu Peristiwa. Edisi Pertama. BPFE UGM. Hal Vol. 53 No. pp.
Hartono, Jogiyanto. 2008. Teori Portofolio Dan Analisis Investasi-5/E. No. pp.
Ikatan Akuntan Indonesia, IAI. 2009. Pernyataan Standar Akuntansi Keuangan. Salemba Empat. Jakarta No. pp.
Fahmi, Irham. 2012. Analisis Kinerja Keuangan” , Bandung: Alfabeta.
Kinney, William, Burgstahler, David, & Martin, Roger. 2002. Earnings Surprise “Materiality” as Measured by Stock Returns. Journal of Accounting Research Vol. 40 No. 5 pp. 1297-1329.
Kothari, SP. 2001. Capital Markets Research in Accounting. Journal of accounting and economics Vol. 31 No. 1 pp. 105-231.
Nurzahra, S. P. (2021). Pengaruh Return On Assets (Roa), Earning Per Share (Eps) Dan Net Interest Margin (Nim) Terhadap Return Saham (Survey Pada Emiten Sektor Perbankan Yang Terdaftar Di Bursa Efek Indonesia) (Doctoral Dissertation, Universitas Siliwangi).
Moradi, Mehdi, Salehi, Mahdi, & Erfanian, Zakiheh. 2010. A Study of the Effect of Financial Leverage on Earnings Response Coefficient through out Income Approach: Iranian Evidence. International Review of Accounting, Banking and Finance Vol. 2 No. 2 pp. 104-116.
Putri, Anggun Amelia Bahar, & Sampurno, R Djoko. 2012. Analisis Pengaruh Roa, Eps, Npm, Der Dan Pbv Terhadap Return Saham (Studi Kasus Pada Industri Real Estate and Property Yang Terdaftar Di Bursa Efek Indonesia Periode 2007-2009). Unpublished Thesis, Fakultas Ekonomika dan Bisnis.
Riyatno. 2007. Pengaruh Ukuran Kantor Akuntan Publik Terhadap Earnings Response Cooefficients. Jurnal Akuntansi dan Bisnis Vol. Vol. 5 No. No. 2 pp. 148–162.
Sasongko, Noer, & Wulandari, Nila. 2006. Pengaruh Eva Dan Rasio-Rasio Profitabilitas Terhadap Harga Saham. Jurnal Empirika Vol. 19 No. 1 pp. 64-80.
Savitri, Dyah Ayu, & Haryanto, A Mulyo. 2012. Analisis Pengaruh Roa, Npm, Eps Dan Per Terhadap Return Saham (Studi Kasus Pada Perusahaan Manufaktur Sektor Food and Beverages Periode 2007-2010). Unpublished Thesis, Fakultas Ekonomika dan Bisnis.
Scott, W. R. 2003. Financial Accounting Theory. Toronto: Prentice Hall.
Sugiyono. 2010. Metode Penelitian Bisnis Pendekatan Kuantitatif, Kualitatif, Dan R&D. Bandung: Alfabeta.
Sulistyanto, H Sri dan Clara Susilawati. 2000. Pedoman Penulisan Skripsi. Semarang: Penerbit Universitas Soegijapranata dan Pusat Pengkajian dan Pengembangan Akuntansi (P3A).
Ulfyana, Dian Farisa, & Purwanto, Agus. 2011. Analisis Pengaruh Laba Unexpected, Large Working Capital Accruals, Ukuran Perusahaan, Earning Per Share, Dan Investment Opportunity Set Terhadap Return Saham. Unpublished Thesis, Universitas Diponegoro.
Weygandt, Jerry J, Kieso, Donald E, & Kimmel, Paul D. 2005. Financial Accounting (Vol. 1): John Wiley & Sons Incorporated.
Zou, Liping, & Chen, Ruishan. 2017. Earnings Surprises, Investor Sentiments and Contrarian Strategies. International Journal of Economics and Financial Issues Vol. 7 No. 1 pp.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Heni Agustina, Rizki Amalia Elfita
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
