Study Respon Investor Terhadap Opini Going Concern

Prasetyo, Aji

doi:10.31334/bijak.v14i2.20

Cited by 2 publications

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“…Berbeda dengan penelitian yang dilakukan oleh Alakari (2016) yang menemukan bahwa tidak terdapat perbedaan average abnormal return sebelum dan sesudah publikasi opini audit pada perusahaan di Tunisia. Prasetyo (2017).menyatakan.bahwaitidakiterdapatiperbedaaniabnormalireturn.sebelum dan sesudahipublikasi opinifaudit goingfconcern. Perbedaan hasilfpenelitian terdahulufmerupakan halfyang.menarikfuntuk.ditelitiflebih.lanjut.…”

Section: Pendahuluanunclassified

“…Publikasi opinixwajarxtanpaxpengecualianfdenganfparagraffpenekanan suatufhal tidak lagi relevan sebagai dasar pengambilan keputusan investasi, yang dibuktikan dengan tidak adanya perbedaan nilai average abnormal return di sekitar periode peristiwa. Hasil penelitian ini memperkuat beberapa penelitian sebelumnya, yaitu Prasetyo & Junaidi (2015), Alakari (2016), serta Prasetyo (2017). Penelitian-penelitian tersebut menunjukkan tidak terdapat perbedaan average abnormal return sebelum dan sesudah publikasi opini audit atas laporan keuangan yang diperoleh perusahaan.…”

Section: Tabelf3 Hasilfujifpairedfsampleft-test Average Abnormalreturnunclassified

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Reaksi Pasar terhadap Publikasi Opini Wajar Tanpa Pengecualian dengan Paragraf Penekanan Suatu Hal

Semitayani

Rasmini

2020

E-Jurnal Akuntansi

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This study aims to examine the information content by looking at the market reaction to the publication of unqualified opinion with the paragraph emphasizing a matter as measured by abnormal returns and trading volume activity. This research is an event study with an observation period of 7 stock exchange days. The population in this study were manufacturing companies listed on the IDX in 2016-2018, totaling 177 companies. The sampling method used non-probability sampling with purposive sampling technique, in order to obtain a sample of 23 companies with 33 audited financial reports. The data analysis technique used paired samplesxt-test. The results of this study indicate that there is no difference in average abnormal return and average trading volume activity before and after the publication of unqualified opinion with an emphasis on a paragraph. This indicates that the publication of an unqualified opinion with an emphasis on a subject paragraph does not cause a market reaction because there is no information content on the event. Keywords: Event Study; Abnormal Return; Trading Volume Activity.

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Section: Pendahuluanunclassified

Section: Tabelf3 Hasilfujifpairedfsampleft-test Average Abnormalreturnunclassified

Reaksi Pasar terhadap Publikasi Opini Wajar Tanpa Pengecualian dengan Paragraf Penekanan Suatu Hal

Semitayani

Rasmini

2020

E-Jurnal Akuntansi

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Value relevance of audit opinions in an emerging market: evidence from Morocco

Badlaoui

Cherqaoui

2023

JFRA

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Purpose This paper aims to determine whether audit opinions in Morocco, an emerging market, are value relevant to the stock market, through the investigation of the market reaction to the issuance of modified audit opinions (MAOs). Design/methodology/approach The event study approach is used. The data are derived from the financial reports of listed companies on the Casablanca Stock Exchange over a period of 10 years from 2010 to 2019. Findings This paper does not find evidence that the market reacts to the issuance of MAOs when grouped together. When partitioning the sample by types, there is an evidence of a stock market reaction to qualified audit opinions and the qualified audit opinions with observation paragraph when they are combined with a negative variation of earnings per share. Examination of the impact of different natures of qualifications shows no consistent results and that the market does not distinguish between natures of qualifications. Research limitations/implications These results may be due to the fact that some investors have information about the audit opinion long before it is made public, due to privileged access to audit opinions, or that investors underestimate audit opinions relative to other financial indicators. Originality/value This study contributes to the existing literature by investigating an emerging market, not previously tested, after the introduction of several regulatory reforms in Moroccan market aimed at enhancing transparency in financial reporting. It refines the market reaction models used in previous studies by using both ordinary least squares and the Scholes–Williams techniques that correct for the effect of thin trading on the market index. In addition, special attention is given to studying the market reaction to each type of MAOs and to each natures of qualifications.

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Study Respon Investor Terhadap Opini Going Concern

Cited by 2 publications

References 0 publications

Reaksi Pasar terhadap Publikasi Opini Wajar Tanpa Pengecualian dengan Paragraf Penekanan Suatu Hal

Reaksi Pasar terhadap Publikasi Opini Wajar Tanpa Pengecualian dengan Paragraf Penekanan Suatu Hal

Value relevance of audit opinions in an emerging market: evidence from Morocco

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