ANALISIS PENGARUH INFORMASI LAPORAN KEUANGAN TERHADAP PERUBAHAN HARGA SAHAM SEBELUM DAN SELAMA KRISIS EKONOMI INDONESIA (STUDI KASUS PERUSAHAAN G0 PUBLIK DI BEJ)

Abstract

This study examined the effect of financial statement information on stock price movements on the company
went public on the JSE. Financial statement information represented financial ratios commonly used in capital
markets that is Earnings Per Share (EPS), Price EarningRatio (PER), Price to Book Value (PBV), Debt to Equity
Ratio (DER), Return On Investment (ROI) , Return On Equity (ROE) and Profit Margin (PM). Economic crisis is
used as the cut-off study due to previous research by many companies in Indonesia affected either directly or
indirectly so that there is a significant difference between the period before the 'economic crisis and during the
economic crisis. The population in this study is the go-public company listed on the Jakarta Stock Exchange in
1995-1999. The number of companies registered during the period amounted to 204 companies from various
industries. The research sample also uses the company from all types of industries and using purposive
sampling method and the number of population after selected according to the criteria obtained a sample of
104 companiesThe research data is secondary data obtained from PRPM Jakarta, Semarang PIPM, JSX Corner
Diponegoro, Indonesia Capital Market Directory and Internet (Indoexchange.com and jsx.co. id) The results
show that by using the level of a -. 5% variable EPS, PBV significantly in the period before and during the crisis.
DER variable sigmifikan only in the period before the 'crisis. Variable ROI and ROE significant only in the period
before the crisis, while the PER and the PM variable is not significant at all periods. Taken together well in the
period before and during the crisis of financial ratio variables (independent variables) influence sigmifikan to
variable changes in stock prices (the dependent variable). Economic crisis also significantly differentiate the
effect between the period before of during the economic crisis.