PENGARUH VOLUNTARY DISCLOSSURE OF FINANCIAL INFORMATION DAN CSR DISCLOSSURE TERHADAP EARNING RESPONSE COEFFICIENT (Survey pada Perusahaan Manufaktur di BEI 2008-2009)
No Thumbnail Available
Date
2010-11-25
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
PPM School of Management
Abstract
This study aimed to investigate empirically the effect of voluntary disclosure of financial
information and CSR disclosure on earnings response coefficient at manufacturing
companies that listing on the Indonesian Stock Exchange in 2008-2009.
This study using a disclosure index advanced by Botosan (1997) to measure the scope
of voluntary disclosure financial information and CSR Index, adapted from research
Sembiring (2005) to measure the scope of CSR disclosure and the earnings response
coefficient is measured with regression of abnormal return with unexpected earnings ±
5-day at window period from the date of publication of annual report.
This study uses multiple regression analysis and correlation analysis of 24 annual
report data’s, stock price index’s and manufacturing company listed for year period
2008-2009. The results showed that partially voluntary disclosure of financial
information has no significant positive influence on earnings response coefficient while
for CSR disclosure has significant negatively influence on earnings response coefficient.
Furthermore, voluntary disclosure of financial information and CSR disclosure
simultaneously did not affect the earnings response coefficient.
Description
Keywords
Voluntary disclosure of financial information, CSR disclosure