FAKTOR-FAKTOR YANG MEMPENGARUHI KEPATUHAN KEPADA KETENTUAN PENGUNGKAPAN WAJIB OLEH PERUSAHAAN ­ PERUSAHAAN PUBLIK DAN IMPLIKASINYA TERHADAP KEPERCAYAAN INVESTOR DI PASAR MODAL

Bambang Subroto

Sari

The objective of this research is to evaluate the compliance of publicly owned firms listed in Indonesian capital market for mandatory disclosure required in annual report, and to examine the difference in the compliance betweenfirms audited by auditingfirms that are difference in their quality. Another objective of this research is to examine the effect of firms 'capital structure. pro.fit .ability, and size on the complaince.  The final  objective of this  research  is  to  examine  the  effect  on  investors '  reliance  of  complaince  with mandatory disclosures  of auditing firms'  quality,  of firms ' capital structure,  of firms' profitability, and offirms ' size.

 This research uses manufacturing firms listed in the Jakart 1 Stock Exchange for the two accounting periods 1999 and 2000. The number of sample used in this study is 224firms' annual report.

 Results of this research show that average of disclosure index is 92,65%. This research also documents that disclosure index of publicly owned firms audited by big auditing firms, is higher than that audited by small auditing firms. Results of hypotheses tests show that auditing firms' quality and firms' size positively affect compliance with mandatory disclosure, and investors ' reliance proxied by cumulative abnormal returns is positiv ely affected by firms' size. Result of analysis shows that auditing firms' quality positiv ely affects investors' reliance, which is proxied by cumulative abnormal trading volume.

Kata Kunci

mandatory disclosure; investors' reliance; abnormal returns; abnormal trading volume

Teks Lengkap:

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Referensi

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