FINANCIAL PERFORMANCE PAPER, COMPLIANCE AND MARKET RESPONSE TO THE FINANCIAL STATEMENT AT THE PUBLICLY LISTED AND NON-PUBLICLY LISTED SECURITIES COMPANY
The role of the capital market and financial institutions below it in the Indonesian economy will be increasingly important given the need for funds needed to maintain an increasingly rapid rate of economic growth. The purpose of this study is to analyze differences in financial performance, compliance and market reaction to the submission of financial statements to the open and closed securities companies for the 2013 – 2017 period using the comparative method used in this study is the Mann Whitney U Test and the Wilcoxon Rank Test. This research variable uses financial ratios including liquidity, solvency, and profitability, the date of submission of financial statements, the volume of trading transactions and publicly listed securities companies as Stock Exchange Members. This study uses descriptive and panel data analysis. The results of the study show that the average financial performance of open securities companies is better compared to closed securities companies, although with a smaller transaction volume. In general, the two groups of securities companies have the same level of compliance in delivering financial statements with in the specified time limit.
Anoraga, Pandji and PijiPakarti. (2008). PengantarPasar Modal (Introduction to Capital Market) Cetakan 3. RinekaCipta.Jakarta.
AgusSartono. (2010). ManajemenKeuanganTeoridanAplikasi (Theory Financial Management and Application Edition 4. BPFE.Yogyakarta.
Indonesia Stock Exchange. (2011). Indonesia Stock Exchange number III-D concerning the Reporting on the Members of Stock Exchange and Participant Dealer that the members of Stock Exchange shall submit periodical report to the Stock Exchange. Indonesia Stock Exchange. Jakarta.
Birmingham, Eugene and Joel F Houston. (2011). ManajemenKeuangan (Financial Management). SalembaEmpat.Jakarta.Jakarta Selatan.
BambangMulyana& R. Eddy Nugroho. (2018). ManajemenKeuangan Perusahaan (Company Financial Management). AdhiSarana Nusantara.
FaridHarianto and SiswantoSudomo. (2003). PerangkatdanTeknikAnalisisInvestasi di Pasar ModalIndonesia (Instrument and Investment Analysis Technique in the Indonesian Capital Market). Indonesia Stock Exchange. Jakarta.
Fahlevi, Ali Riza. (2013). PerbedaanKinerjaPerusahaan SebelumdanSesudah Merger danAkuisisi, Serta Faktor-faktor yang MempengaruhiKinerjaKinerja Perusahaan setelah merger danakuisisi (Difference of Company Performance Before and After the Merger and Acquisition, and Factors affecting the Performance of Company after the merger and acquisition). Thesis. FakultasIlmuAkuntansi. Universitas Gajah Mada.Yogyakarta.
James S. Sagner, PhD. (2011). Essential Of Working Capital Management. John Wiley & Sons, Inc. Hoboken. New Jersey. Canada.
Jogiyanto Hartono. (2016). TeoriPortofoliodanAnalisisInvestasi (Portfolio Theory and Investment Analysis) Edition Eleventh. BPFE. Yogyakarta.
Kashmir. (2017). Financial Statement Analysis, PT Raja GrafindoPersada.Jakarta.
KurniadiRinistya. (2012). Pengaruh CAR, NIM, LDRTerhadap Return Saham Perusahaan PerbankanIndonesia (Effect on CAR, NIM, LDR towards Return of Share for Indonesia Banking Company). Accounting Analysis Journal 1.
Leo J. Susilo. (2017). Governance, Risk Management, and Compliance. Grasindo. Kompas Gramedia. Jakarta.
Martin T. Biegelman& Joel T. Bartow. (2012). Executive Roadmap to Fraud Prevention. and Internal Control, Creating a Cultureof Compliance. Second Edition. John Wiley& Sons, Inc. Hoboken.New Jersey.Canada.
Moin, A. (2010). Merger, AkuisisidanDivestasi (Merger,Acquisition and Divestment) Part One.Ekonisa.Yogyakarta.
Nur Sylvia Aprilia. (2015). Perbandingan KinerjaKeuanganSebelumdanSesudahAkuisisiPada Perusahaan Manufaktur(Comparison for the Financial Performance Before and After the Acquisition in the Manufacture Company). Thesis. Study Program:Magister Manajemen. Universitas MercuBuana. Jakarta.
Terry Wireman, C.P.M.M. (2003). Maintenance Management and Regulatory Compliance Strategies. Industrial Press Inc. 200. Madison Avenue. New York 10016.
Wiley. (2003). Finance Series, Governance, Compliance and Supervision. Sons Incorporated.
Copyright (c) 2019 Emilia, Afriapollo Syafarudin
This work is licensed under a Creative Commons Attribution 4.0 International License.
License and Copyright Agreement
In submitting the manuscript to the journal, the authors certify that:
- They are authorized by their co-authors to enter into these arrangements.
- The work described has not been formally published before, except in the form of an abstract or as part of a published lecture, review, thesis, or overlay journal.
- That it is not under consideration for publication elsewhere.
- That its release has been approved by all the author(s) and by the responsible authorities – tacitly or explicitly – of the institutes where the work has been carried out.
- They secure the right to reproduce any material that has already been published or copyrighted elsewhere.
- They agree to the following license and copyright agreement.
Authors who publish with International Journal of Engineering Technologies and Management Research agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License (CC BY-SA 4.0) that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors can enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or edit it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) before and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
For More info, please visit CopyRight Section