An Empirical examination of the information content of balance sheet and divident announcements in Indonesia stock market :: A signalling approach

ASIH, Anna Maria Sri, Drs. R. Agus Sartono, MBA

2001 | Tesis | Magister Manajemen

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This paper examines whether the changes in the jinancicrl statements and dividends can together provide u better information transmittal system to deliver missing private information on the firm using Indonesiati firms as the sample. 73e evaluation of the dividend signalling is done by considering three componen is: the expected content favourableness, the sigti of divided change, and the role of dividend signal. The finding shows that the markel recrrctions 10 /he dividend announcements depends on lhe role of di vidcvtd s i p i d s , w h i ~ iht i~s c rwfirmcrmry, clarijkatory, or unclear. The other jiriditig shows that the market is niore concern to the content expected fmourableness rather than to the dividend sign.

Kata Kunci : Dividen,Pasar Modal, dividend; balance sheet; signdlitig clarjficutory