<![CDATA[ABSTRAKPenelitian ini bertujuan untuk menguji reaksi pasar terhadap peristiwa pemberlakuan efektif PSAK 72 pada perusahaan sektor telekomunikasi dan farmasi. Reaksi pasar diukur menggunakan abnormal return dan trading volume activity dengan pendekatan studi peristiwa (event study). Populasi penelitian adalah seluruh perusahaan sektor telekomunikasi dan farmasi yang tercatat di Bursa efek Indonesia. Pemilihan sampel dilakukan dengan teknik purposive sampling dan diperoleh 14 perusahaan. Periode penelitian yang digunakan yaitu 7 hari. Metode analisis data menggunakan uji t, paired sample t-test, dan wilcoxon signed rank test. Hasil penelitian menunjukkan bahwa peristiwa pemberlakuan efektif PSAK 72 direspon negatif oleh investor yang ditunjukkan oleh hasil uji t dengan terdapat abnormal return negatif dan signifikan pada periode t-3. Peristiwa pemberlakuan efektif PSAK 72 dianggap menurunkan nilai pos pendapatan yang akan dilaporkan dimasa datang tentunya mempengaruhi kinerja perusahaan dan memberikan resiko kerugian dimasa depan. Implikasinya yaitu investor harus bertindak lebih cepat dalam menghadapi peristiwa perubahan standar akuntansi yang terjadi.ABSTRACTThis study aims to examine the market reaction to the effective implementation of PSAK 72 in company in the telecommunications and pharmaceutical sectors listed on the Indonesia Stock Exchange. Market reaction was measured using abnormal returns and trading volume activity with an event study approach. The research population is all companies in the telecommunications and pharmaceutical sectors listed on the Indonesia Stock Exchange. The sample selection was done by purposive sampling technique and obtained 14 companies. The research period used is 7 days. Data analysis method used t-test, paired sample t-test, and Wilcoxon signed rank test. The results showed that the event of the effective implementation of PSAK 72 responded negatively by investors as indicated by the results of the t-test with negative and significant abnormal returns in the t-3 period. The event that the effective implementation of PSAK 72 is considered to reduce the value of income items to be reported in the future certainly affects the company's performance and provides a risk of future losses. The implication is that investors must act more quickly in the face of changes in accounting standards that occur. ]]>
