DAMPAK PEMODERASIAN KOMPONEN ARUS KAS TERHADAP HUBUNGAN LABA AKUNTANSI DENGAN RETURN SAHAM [JURNAL]
ABSTRACT
Accurate information regarding listed companies is crucial to
minimize investment risk. This research aims to examine the effect of
accounting income on stock return, and the effect of cash flow from
operation, cash flow from investment, and cash flow from financing
activities respectively as moderating variables on the relationship
between accounting income and stock return of manufacturer listed
on the Jakarta Stock Exchange.
There were 161 manufacturing companies listed during 2001
to 2005, and 39 of them are selected as sample research using
purposive sampling method. With 5 year research period, there are
195 observations done. Data then are analyzed using multiple linear
regressions. Results show that accounting income affect stock return
significantly, which is shown by greater value of t count compare to t
table. While cash flow from operation, investment, and financing
activities are not able to moderate relationship between accounting
income and stock return.
Keywords: moderating variables, cash flow, accounting income, stock return.
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