The Relationship between Information Asymmetry and Stock Return in the Presence of Accounting Conservatism

Yassin, Mohammed M.; Ali, Haitham Yousef; Hamdallah, Madher E.

doi:10.5539/ijbm.v10n5p126

Cited by 4 publications

(2 citation statements)

References 27 publications

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“…This study was supported by research Wardani et al (2016) which states that the information asymmetry significant positive effect on stock returns. Further research Yassin et al (2015) stated that the information asymmetry significant positive effect on stock returns. Other studies are Clinch and Lombardi (2011) states that the higher the information asymmetry abnormal returns are also higher.…”

Section: Effect Of Information Asymmetry On Abnormal Returnmentioning

confidence: 95%

Investigation of Capital Market Efficiency in Indonesia

Hutapea

Fathoni²,

Efni³

2020

AMBR

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<em>In the midst of a national economic growth downturn that affected the capital market as a subsystem of the economy, now Indonesia capital market industry began to look at the development of the application of the principles of sharia as an alternative investment instruments in capital markets activities in Indonesia. The growth of the Islamic capital market in Indonesia is quite encouraging, but the Islamic capital market exposure is still minimal. Lack of public understanding about the Islamic capital market into doubt for investors to invest in the capital market. With the background of the problem, this research aims to investigate the level of efficiency increase of capital markets in Indonesia to see the influence of the capital market and the asymmetry of information on abnormal return. The population in this study are all listed company listed on the Stock Exchange 2014-2018 period as many as 626 companies with a total sample of 238 companies were selected based on criteria predetermined. The analytical method used in this research is multiple linear regression and the results showed that the type of capital markets significant negative effect on abnormal returns and the information asymmetry significant positive effect on abnormal returns. The continued development of the Islamic capital market information asymmetry and abnormal returns are also lower so the efficiency of the capital market has also increased. The analytical method used in this research is multiple linear regression and the results showed that the type of capital markets significant negative effect on abnormal returns and the information asymmetry significant positive effect on abnormal returns. The continued development of the Islamic capital market information asymmetry and abnormal returns are also lower so the efficiency of the capital market has also increased. The analytical method used in this research is multiple linear regression and the results showed that the type of capital markets significant negative effect on abnormal returns and the information asymmetry significant positive effect on abnormal returns. The continued development of the Islamic capital market information asymmetry and abnormal returns are also lower so the efficiency of the capital market has also increased.</em>

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Section: Effect Of Information Asymmetry On Abnormal Returnmentioning

confidence: 95%

Investigation of Capital Market Efficiency in Indonesia

Hutapea

Fathoni²,

Efni³

2020

AMBR

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“…Asimetri informasi yang tinggi biasanya juga ditandai dengan volume transaksi pasar yang cenderung rendah karena permintaan yang rendah. Simetri informasi berdampak positif terhadap stock return, namun ketika kebijakan akuntansi konservatif yang dilakukan manajemen maka dampaknya akan memudar atau menghilang (Yassin et al, 2015). Kong et al, menemukan hal yang menyerupai itu, bahwa asimetri informasi memiliki dampak negatif signifikan pada sensitivitas investasi, harga saham dan selanjutnya terhadap stock return (Kong et al, 2011).…”

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Studi Empiris Terkait Dengan Pengungkapan Sukarela, Kualitas Audit Dan Asimetri Informasi Terhadap Stock Return Pada Perusahaan Manufaktur Yang Terdaftar Pada Bursa Efek Indonesia

Sihombing

Agoes²,

Santoso

2017

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This study used data of manufacturing companies listed on the Jakarta Stock Exchange (JSX) as unit of analysis. The purpose of this study is to find out the influence of voluntary disclosures and audit quality on information asymmetry. This study also aims to determine the effect of voluntary disclosure, audit quality and information asymmetry on stock return. In addition, this study aims to find out the ability of information asymmetry to mediate the effect of voluntary disclosure and audit quality on information asymmetry.This research used verificative-descriptive method with quantitative approach. The analytical method used in statistical data processing was path analysis. There are 132 manufacturing companies listed on JSX became the research samples of this study.The testing results shows that there are significant impact of voluntary disclosure and audit quality on information asymmetry. The testing results also show that there are significant impact of voluntary disclosure and information asymmetry on stock return, while the audit quality has no significant impact on stock return. At the same time, information asymmetry is significant to be the mediating variable on the impact of voluntary disclosure and audit quality towards stock return. Voluntary disclosure, audit quality and information asymmetry can be the determinant variables on Stock Return of manufacturing companies, listed on JSX.Keywords: voluntary disclosure, audit quality, information asymmetry, stock return.Abstrak: Penelitian ini menggunakan data perusahaan manufaktur yang terdaftar di Bursa Efek Jakarta (BEJ) sebagai unit analisis. Tujuan dari penelitian ini adalah untuk mengetahui pengaruh pengungkapan sukarela dan kualitas audit pada asimetri informasi. Penelitian ini juga bertujuan untuk mengetahui pengaruh pengungkapan sukarela, kualitas audit dan asimetri informasi terhadap return saham. Selain itu, penelitian ini bertujuan untuk mengetahui kemampuan asimetri informasi untuk menengahi efek pengungkapan sukarela dan kualitas audit pada penelitian asymmetry.This informasi menggunakan metode verifikatif-deskriptif dengan pendekatan kuantitatif. Metode analisis yang digunakan dalam pengolahan data statistik adalah analisis jalur. Ada 132 perusahaan manufaktur yang terdaftar di BEJ menjadi sampel penelitian study.The ini menguji hasil menunjukkan bahwa ada dampak signifikan dari sukarela pengungkapan dan kualitas audit pada asimetri informasi. Hasil pengujian juga menunjukkan bahwa ada dampak signifikan dari pengungkapan sukarela dan asimetri informasi terhadap return saham, sedangkan kualitas audit tidak berpengaruh signifikan terhadap return saham. Pada saat yang sama, asimetri informasi adalah signifikan menjadi variabel mediasi tentang dampak sukarela pengungkapan dan kualitas audit terhadap return saham. Sukarela pengungkapan, kualitas

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