Hubungan Laba Bersih dan Arus Kas Operasi dengan Dividen Kas

Hery Hery

Abstract


The objective of the research is to find out empirical evidence of the effect of ownership structures and financial performance on earnings management and the impact on stocks return on manufacturing companies as listed at The Indonesia Stock Exchange. The population of the research are listed manufacturing companies at Indonesia stock Exchange, and the sample used in this study is based on the annual financial reports ended 31 December, information on the ownership stock and financial highlights over 2001 - 2005. The methodology used in this study is to conduct an exploration with monitoring and evaluation of financial reports on manufacturing companies to find some empirical evidence on the financial performance. The research outcome indicates that: (1) the ownership structure, financial performance and earning management to take effect on stock return; (2) institutional ownership structures, size and profitability to take significant and positive effect on stock return, while managerial ownership structures, leverage and earnings management to take significant and negative effect on stock return.

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