Pengaruh Komponen Akrual dan Komponen Arus Kas Terhadap Return Saham Dalam Perspektif Persistensi dan Anomali: Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2010-2014

Fitria Maiza (Program Studi Akuntansi Fakultas Ekonomi Universitas Negeri Padang)
Erly Mulyani (Program Studi Akuntansi Fakultas Ekonomi Universitas Negeri Padang)

Wahana Riset Akuntansi
Vol 4, No 1 (2016)

This study examine the effect of the accrual component and cash flows component on stock returns in persistence and anomaliesperspective. The population is manufactury company listed on the Indonesia Stock Exchange (IDX)period of 2010-2014. The sample are 88 companies. The results indicate that: (1) persistence component accrual was lower than the persistence of the cash flow components, (2) no finding anomalies accrual in the form overprice to accrual components and underprice to cash flowcomponents, (3) future stock return are positively related to accruals in current earnings, and (4) future stockreturn are negatively relatedto cash flows in current earnings.No accrual anomaly means that investors are not misled by earnings information from accrual components and cash flow components. It means, investor has given the right value to accrual components and cash flow components when making decision. Keywords: return stock, accrual component, cash flow component, persistence, accrual anomaly