Jurnal Akuntansi Download Kata kunci: Reaksi Pasar, Perataan Laba, Kualitas Auditor.
PENGARUH TINDAKAN PERATAAN LABA TERHADAP REAKSI PASAR DENGAN KUALITAS AUDITOR DAN KEPEMILIKAN MANAJERIAL SEBAGAI VARIABEL PEMODERASI
Financial statement usually is to represent results of from operational activity made by reported company to external and likewise internal side of company. Probably the most parameter is usually employed for measure or improvement degradation of performance at company is profit. Profit which mounting from previous period is indication that company performance is nicely which make a difference can influence the make-up of share price. Management action do policy of income smoothing usually is to represent action to make stable profit and lessen covariance from market return, also expected can give influence which towards the benefit of price of stocks and likewise assessment of manager performance defending it self in management of company utilize importance of prosperity of company employees and likewise to facilitate all investor to the predicted of return for future period. This research usually is to test reaction of market to action income smoothing towards the manufacturing business audit financial statement by independent public accountant which with quality and fewer with quality which listed inside the Indonesia Stock Exchange (IDX ). Besides also examine reaction of market to income smoothing towards the ownership of managerial. Population during this research is manufacturing business which listed in Indonesia Stock Exchange from year 2004 until year 2006, while its determination of use sampling purposive method and pursuant to criterion obtained by sample counted 84 manufacturing business. this Research data represent obtained secondary data from Indonesian Capital Market Directory (ICMD ). Analysis data use multivariate regression analysis. Results of using this research is showed that consistent with together all free variable during this research have an effect on positive and significant to reaction of market. Results also showed the variable from the Auditor quality wasn‘t to influence relation between action income smoothing with reaction of market at period announcement of company profit, and likewise towards the ownership of managerial cannot influence relation between react of market with action income smoothing at period announcement of company profit.
Key Words : Market reaction, income smoothing, Auditors quality