Valencia, Cathlin and Mulyani, Mulyani
(2012)
RELEVANSI NILAI LABA DAN KOMPONEN ARUS KAS TERHADAP HARGA
SAHAM DENGAN CURRENT RATIO SEBAGAI PEMODERASI RELEVANSI
NILAI ARUS KAS OPERASI PADA PERUSAHAAN MANUFAKTUR DI BEI
PERIODE 2008–2010.
SEMINAR NASIONAL DAN CALL FOR PAPERS .
ISSN 978-979-3649-65-8
Abstract
Stock transactions has a fairly high risk so that the relevant information is needed to
assess the performance of the company. This study is to prove the value relevance of
earnings and cash flow components which also influenced by current ratio for cash flow
operation that are used by the investors in decision making. Object of this study is
manufacturing companies listed at BEI period 2008 -2010 with the number of companies
studied were 345 companies. The analysis use classical assumption, multiple linear
regression, F analysis, t analysis, coefficient determination of R square by SPSS 19.0. The
conclusion of this research are as follows: earnings, operating cash flow, and financing cash
flow have positive effect significant on stock price which means that earnings, operating
cash flow, and financing cash flow have value relevance in assessing the performance of the
company. Investing cash flow has a positive effect but not significant means it does not have
enough evidence in demonstrating the value relevance of the stock price. Current ratio
significantly strengthen the positive effect of operational cash flow to the stock means
current ratio strengthen the positive effect of operating cash flow.
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