Peran Informasi Arus Kas: Studi Sebelum dan Sesudah Diberlakukannya PSAK No. 2 Serta Hubungannya Dengan The Bid-Ask Spreads
SYARIF, FIRMAN (Pembimbing: Suwardjono, Dr., M.Sc.), Suwardjono, Dr., M.Sc.
Alaraini and Stephen (1999) found that cash flow statement as mandated under Statement of Financial Accounting Standard No. 95 by the Financial Accounting Standard Boards (FASB) improved the quality of accounting information. The improvement was indicated by decrease in bid-ask spreads in 1989-1990 and increase in stock trading. They also stated that there is association between cash flow statement with stock returns.
On September 1994, Komite Standar Akuntansi Ikatan Akuntan Indonesia (The Accounting Standard Committee of Indonesian Accountants Institute) released Pernyataan Standar Akuntansi Keuangan (PSAK) No.2 mandating the presentation of cash flow statement.
The objective of the study is to empirically examine whether there is an incremental information content relative to bid-ask spreads, stock return, bid price and stock trading volume before and after the issuance of PSAK No. 2. This study contributes to the extent literature in information content of cash flow, especially in Indonesia.
The hypotheses proposed was tested by Analysis of Variance (ANOVA) and Linear Regression then found that bid-ask spreads decreased in 1996, but increase in 1997. Bid price decreased in 1996, but increase in 1997. Stock return and stock trading volume increased in 1996 and 1997 significantly. However, There is no significant influence between cash flow statement with stock return.
Kata Kunci : Information content, bid-ask spreads, stock return, bid price, stock trading volume, ANOVA and linier regression
