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All Journal Infestasi Gorontalo Accounting Journal Barista : Jurnal Kajian Bahasa dan Pariwisata Dedikasi Sains dan Teknologi (DST) Jurnal Pengabdian Polinema Kepada Masyarakat Jurnal PkM (Pengabdian kepada Masyarakat) Indonesian Journal of Business Analytics (IJBA) Barista
Aang Afandi
Jurusan Akuntansi, Politeknik Negeri Malang
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Journal : Infestasi

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Studi Komparatif Abnormal Return Pada Perbankan Yang Melakukan Pengungkapan Modal Intelektual Arya Aji Aditya; Aang Afandi; Hesti Wahyuni
InFestasi Vol 16, No 2 (2020): DESEMBER
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v16i2.8090

Abstract

The research aimed to examine the effect of intellectual capital disclosing on abnormal returns and to compare the abnormal return difference after and before the uploading events of the annual report. The population was 43 banking companies listed on the Indonesian Stock Exchange from 2016 to 2018. Then, 41 companies were selected as the sample by using the Purposive Sampling Method. The data required were the company’s annual reports collected by using documentation method. Intellectual capital disclosure was collected by using content analysis, while abnormal return calculated using an event study approach. The data were analyzed with the Simple Linear Regression and Paired Sample T-Test Method. The Simple Linear Regression Method showed intellectual capital disclosure did not significantly affect abnormal returns. Meanwhile, comparative studies showed that no abnormal return differences detected after and before the events. Based on both analyses, it can be concluded the annual report was not used by market participants in Indonesia as one of the sources of reference in making investment decisions. Human capital, structural capital and relational capital information presented narratively, numerically, or monetarily in the annual report could not affect the share price of the company. Tujuan dari penelitian ini adalah menguji dampak pengungkapan modal intelektual terhadap abnormal return dan mengevaluasi perbedaan abnormal return sesudah dan sebelum hari peristiwa pengunggahan laporan tahunan. Populasi dalam penelitian ini yaitu 43 perusahaan sektor perbankan yang terdaftar di Bursa Efek Indonesia periode 2016 dan 2018. Melalui metode purposive sampling terkumpul sebanyak 41 sampel perusahaan. Data dalam penelitian ini yaitu laporan tahunan perusahaan yang dikumpulkan dengan metode dokumentasi. Untuk mencari nilai pengungkapan modal intelektual menggunakan metode analisis konten sedangkan untuk mengetahui abnormal return menggunakan pendekatan studi peristiwa. Data dianalisis dengan analisis regresi linear sederhana dan uji beda berpasangan. Hasil uji regresi linear sederhana menunjukkan pengungkapan modal intelektual tidak mempengaruhi secara signifikan abnormal return. Sementara itu, hasil uji beda menunjukkan tidak ada perbedaan abnormal return setelah dan sebelum peristiwa.  Berdasarkan kedua analisis tersebut, dapat disimpulkan bahwa pelaku pasar di Indonesia belum memanfaatkan laporan tahunan sebagai salah satu sumber referensi dalam mengambil keputusan investasi. Informasi mengenai human capital, structural capital dan relational capital yang tersaji secara naratif, numerik, maupun moneter dalam laporan tahunan tidak mampu memengaruhi harga saham perusahaan.
Co-Authors Andi Kusuma Indrawan Annisa Fitriana Apit Miharso Arya Aji Aditya Eki Andhika Ratnawardhani Endah Suwarni Erlin Melani Hesti Wahyuni Jarnuzi, Ahmad Kurnia Ekasari M Unggul Pamenang Novie Astuti Setianingsih Retno WIDIASTUTI Satrio Binusa S Shintiya Yulia Frantika Wiwiek Kusumaning Asmoro Zainal Abdul Haris