Date: 23-11-2020 Digital Publication Services : OSREL | JABM | JAM | ABMR | ABMCS

Pengaruh Manajemen Laba pada saat IPO terhadap Return Saham yang Dimediasi oleh Kinerja Keuangan

Detail
Author Enis Oktaviana
Category Akuntansi Keuangan dan Auditing

Abstract

As an alternative to obtain additional fund, a company perfoms Initial Public Offering (IPO), during which information asymetric and underperfomance phenomena take place. This information asymetric is exploited by manager to manipulate financial statements, commonly known as earnings management. Earnings management conducted by management can not be retained for long period, causing the company’s declining performance. Then, it will be followed by declining of stock return, during to market correction towards declining performance post IPO. This research aims at determining the impact of earning management IPO to performance, the impact of earning management to stock return, to impact of performance to stock return, and to impact of earning management to stock return pass through performance . It also aiming at determining the impact of financial performance post IPO to stock return post IPO. This research uses the services companies data conducting IPO that went at Indonesia Stock Exchange for the periods 2010-2014. The method used to examine earnings management are the method that develop by jones modified models.. The method of analysis of this research used single regression analysis. The result of this research is: (1) earning management IPO has positively effect and statistically significant to financial performance. (2) financial performance has positively effect to stock return post. (3) earning management IPO has positively effect and statistically significant to stock return. And (4) earning management IPO has positively effect and statistically significant to stock return pass through financial performance.