Hubungan Kandungan Informasi yang Terdapat pada Peristiwa Dividen terhadap Profitabilitas Masa Depan Perusahaan-perusahaan yang terdaftar di Bursa Efek Jakarta

Ivandhari, Arliani, Prof. Dr. Indra Wijaya Kusuma, M.B.A., Ak.

2007 | Skripsi | S1 Accounting

The Relationship between Information Content in Dividend Event and Future Profitability of Firms Listed at Jakarta Stock Exchange Abstract Many dividend theories imply that changes in dividends have information content about future earnings of the firm. This research investigates the relation between dividend changes and future profitability measured in terms of future earnings and future abnormal earnings. By regressing three measurements of earnings (earnings changes, earnings, abnormal earnings) and using 37 samples (222 firm-years) of firms at Jakarta Stock Exchange from 1999 to 2005, my finding is somewhat consistent with Doron Nissim and Amir Ziv (2001). I find that dividend changes provide information about the level of profitability in subsequent years, incremental to market and accounting data. This investigation also documents that dividend increase has stronger explanatory power in predicting profitability compared to dividend decrease. Key words: information content, dividend changes, profitability

Kata Kunci : Informasi, keputusan Investasi, Dividen, Profitabilitas Masa Depan, Bursa Saham, information content, dividend changes, profitability