Article Sidebar

Download
PDF
Statistic
Read Counter : 112 Download : 83

Downloads

Download data is not yet available.

Main Article Content

Abstract

This study investigates the value relevance of accounting information on manufacturing companies listed on the IDX for 2012-2017. This study uses the accounting-based Ohlson's (1995) model, which includes earnings (EPS) and book value (BVS) as variables. This study shows a direct relationship between financial statements and firm value. The value relevance does not increase, yet both the value relevance for EPS and BVS, although in specific years, does. The results show that individual BVS decreases with a better amount than EPS from 2012 to 2015. Meanwhile, in 2016-2017 BVS value decreased below EPS value.


Abstrak


Penelitian ini menginvestigasi relevansi nilai informasi akuntansi pada perusahaan manufaktur yang terdaftar di BEI tahun 2012-2017. Model Ohlson (1995) berbasis akuntansi yang mencakup laba (EPS) dan nilai buku (BVS) sebagai variabel digunakan dalam penelitian ini. Studi ini menunjukkan adanya hubungan langsung antara laporan keuangan dan nilai perusahaan. Relevansi nilai pada perusahaan yang diteliti tidak meningkat, baik relevansi nilai EPS maupun BVS, walaupun pada tahun tertentu naik. Hasil analisis menunjukkan bahwa nilai BVS menurun secara individual dengan besaran yang lebih baik dibanding EPS tahun 2012-2015, namun tahun 2016 dan 2017 besaran nilai BVS menurun di bawah besaran nilai EPS.

Keywords

BVS EPS Value Relevance

Article Details

License

Copyright (c) 2023 Krismiaji -,, Hermala Kusumadewi

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Author Biography

Hermala Kusumadewi, Akademi Akuntansi YKPN Yogyakarta

4.3.5

References

  1. Almujamed HI, Alfraih MM. Value Relevance of Earnings and Book Values in the Qatari Stock Exchange. EuroMed J Bus 2019;14(1):62–75.
  2. Lim SC, Park T. The Declining Association Between Earnings and Returns. Management Research Review 2011;34(8):947–960. doi:10.1108/01409171111152538
  3. Lam KCK, Sami H, Zhou H. Changes in the Value Relevance of Accounting Information Over Time: Evidence from the Emerging Market of China. Journal of Contemporary Accounting & Economics 2013;9(2):123–135. doi:10.1016/j.jcae.2013.06.001
  4. Beaver WH. Perspectives on Recent Capital Market Research. American Accounting Association 2002;77(2):453– 474. doi:10.2308/accr.2002.77.2.453
  5. Ball R, Brown P. An Empirical Evaluation of Accounting Income Numbers. Journal of Accounting Research 1968;6(2):159–78. doi:10.2307/2490232
  6. Beaver WH. The Information Content of Annual Earnings Announcements. J Account Res. 1968;6:67.
  7. Habib A. Value Relevance of Alternative Accounting Performance Measures: Australian Evidence. Accounting Research Journal 2010;23(2):190–212. doi:10.1108/10309611011073269
  8. Dontoh A, Radhakrishnan S, Ronen J. Is Stock Price a Good Measure for Assessing Value-Relevance of Earnings? An Empirical Test. Review of Managerial Science 2007;1(1):3–45.
  9. Harris TS, Lang M, Moller HP. The Value Relevance of German Accounting Measures: An Empirical Analysis. Journal of Accounting Research 1994;32(2):187-209 doi: 10.2307/2491281
  10. Collins DW, Maydew EL, Weiss IS. Changes in the Value-Relevance of Earnings and Book Values Over the Past Forty Years. Journal of Accounting Economics 1997;24(1):39–67. doi:10.1016/S0165-4101(97)00015-3
  11. Kim JY, Key KG, Hall L, Alfraih MM, Almujamed HI, Alfraih MM, et al. Value Relevance of Accounting Information: Evidence from South Eastern European Countries. Journal of Accounting Research 2010;6(2):8–9.
  12. Francis J, Schipper K. Have Financial Statements Lost Their Relevance? Journal of Accounting Research 1999;30(3):8–9.
  13. Brown S, Lo K, Lys T. Use of R-squared in Accounting Research: Measuring Changes in Value Over the Last Four Decades. Journal of Accounting Economics 1999;28(847):83–114.
  14. Ryan SG, Zarowin PA. Returns-Earnings Relation Declined ? 2003;78(2):523–53.
  15. Dontoh A, Radhakrishnan S, Ronen J. The Declining Value-Relevance of Accounting Information and Non-Information-Based Trading: An Empirical Analysis. Contemporary Accounting Research 2004;21(4):795–812. doi:10.1506/J6P4-2UYP-HFXY-RBT1
  16. Pervan I, Bartulović M. Value Relevance of Accounting Information: Evidence From South Eastern European Countries. Economic Research - Ekonomska Istrazivanja 2014;27(1):181–190. doi:10.1080/1331677X.2014.947132
  17. Kwon GJ. Changes in the Value Relevance of Accounting Information Before and After The Adoption Of K-IFRS: Evidence From Korea. Afro-Asian J of Finance and Accounting 2018;8(1):65–84. doi:10.1504/AAJFA.2018.10009905
  18. Givoly D, Hayn C, Katz S. The Changing Relevance of Accounting Information to Debt Holders Over Time. Vol. 22, Review of Accounting Studies. Springer US; 2017. 64–108 p.
  19. Kim JY, Key KG, Hall L. Changes in Accounting Information Value Relevance and Cash Flow Prediction : Evidence from Korea 2014;5(9):1–12.
  20. Chalmers K, Navissi F, Qu W. Value Relevance of Accounting Information In China Pre- and Post-2001 Accounting Reforms. Management Auditing Journal. 2010;25(8):792–813.
  21. Lopes AB. The Value Relevance of Brazilian Accounting Numbers: An Empirical Investigation. SSRN Electron J. 2002.
  22. Acar E, Ozkan S. Corporate Governance and Provisions Under IAS 37. EuroMed Journal of Business 2017 May;12(1):52–72. doi: 10.1108/EMJB-03-2016-0007
  23. Barth ME. Valuation‐Based Accounting Research: Implications for Financial Reporting and Opportunities for Future Research. Accounting & Finance [Internet] 2000 Mar 28;40(1):7–32. doi:10.1111/1467-629X.00033
  24. Ohlson JA. Earnings, Book Values, and Dividends in Equity Valuation Contemporary Accounting Research 1995;11(11):661–687. doi:10.1111/j.1911-3846.1995.tb00461.x
  25. Barth ME, Clement MB, Foster G, Kasznik R. Brand Values and Capital Market Valuation. Review of Accounting Studies 1998;3(1–2):41–68.
  26. Collins DW, Pincus M, Xie H. Equity Valuation and Negative Earnings: The Role of Book Value of Equity. The Accounting Review 1999;74(1):29-61. doi:10.2308/accr.1999.74.1.29
  27. Lev B, Zarowin P. The Boundaries of Financial Reporting and How to Extend Them. Journal of Accounting Research 1999;37(2):353-385. doi:10.2307/2491413
  28. Chamisa E, Mangena M, Ye G. Relative value‐relevance of accounting measures based on Chinese Accounting Standards and International Financial Reporting Standards. Journal of Accounting in Emerging Economies 2012;2(2):162–187. doi:10.1108/20421161211229826
  29. Tsalavoutas I, Dionysiou D. Value relevance of IFRS mandatory disclosure requirements. Journal of Applied Accounting Research. 2014;15(1):22–42.
  30. Gujarati DN, Porter DC. Basic Econometrics (5th ed.). Basic Econometrics. 2009. 946 p.
  31. Alfraih MM. Have Financial Statements Lost Their Relevance? Empirical Evidence from the Frontier Market of Kuwait. Journal of Advances in Management Research 2016;13(2):225–239. doi:10.1108/JAMR-06-2015-0043
  32. Devalle A, Onali E, Magarini R. Assessing the Value Relevance of Accounting Data After the Introduction of IFRS in Europe. Journal of International Finance Management & Accounting 2010;21(2):85–119. doi:10.1111/j.1467-646X.2010.01037.x
  33. King RD, Langli JC. Accounting Diversity and Firm Valuation. The International Journal of Accounting 1998;33(5):529–567. doi:10.1016/S0020-7063(98)90012-7
  34. Hand JRM. Test of the Extended Functional Fixation Hypothesis. 1990;65(4):740–63.