DAFTAR ISI

Daftar lsi iii

Sambutan Ketua Panitia ................. ix

Sambutan Rektor Universitas Sriwijaya.....:.............:........................................ xi

SambutanDekanFakultasEkonomiUniversitasSriwijaya

PENDAHULUAN ......;..........

Latar Belakang .

Nama, Bentuk, dan Tema Kegiatan ........... 4''

Tujuan Kegiatan ...... 5

Waktu dan Tempat ............... ..................... b

SusunanAcara .......6

Makalah yang Dipresentasikan .................. g

ldentitas Pemakalah

ABSTRAKSI ARTIKEL

ARTIKEL KUANTITATIF NASIONAL............ .... 35

AKPM (AKUNTANSTKEUANGAN DAN PASAR MODAL) ...,..,...... 37

1. Analisis Reaksi PasarTerhadap Pengumuman PergantianKantgrAkuntan Publik ....... 39

2. Simultanitas Aktivisme lnstitusional, Stiuktur Kepemilikan, KebijakanDeviden, dan Utang dalam MengurangiKonflik Keagenan(Studi Empiris pada Perusahaan Go Publik di lndonesia)...................... 40

3. Faktor - Faktor Penentu Kualitas Pelaporan Keuangan DanKepercayaan lnvestor ....... 41

4. Pengaruh Pengumuman lndonesia Sustainability ReportingAward (ISRA) terhadapAbnormal Return dan Volume

Perdagangan Saham (Studi Kasus pada Perusahaan

Pemenang ISRA Periode 2005-2008) ........... ...... 42

7t*;r.rad*t"+ fu;-V.v. I si^4"ti*rtvaalual &zatataoc &- 12 iffi'ffifffiffiWi

PENGARUH PENGUMUMAN INDONESIA SUSTAINABILITY REPORTING AWARD

(ISRA) TERHADAP ABNORMAL RETURN DAN VOLUME PERDAGANGAN SAHAM

(Studi Kasus Pada Perusahaan Pemenang ISRA Periode 2005-2008)

Ferry Budiman1

Supatmi2

Abstract

This research studies the impact of Indonesia Sustainability Reporting Award (ISRA) to abnormal return and trading value activity. The impact of award publication could be seen from what there are some differences between abnormal return and trading value activity with the ISRA announcement.

The research samples are 13 companies which accept the appreciation of ISRA period 2005-2008 by using purposive sampling method. The research data that used is secondary data that consist of daily closing price of shares and daily trading volume with an estimation period during 30 days and event period during 11 days by using a market adjusted model. Hypothese are tested by Wilcoxon Sign Test.

The result of this research proves that there is significant difference in abnormal return between the ISRA announcement and the days after ISRA publication, but trading value activity is not difference.

Key words: Sustainability Reporting, Abnormal Return, Trading Value Activity

1 Alumnus Fakultas Ekonomi Universitas Kristen Satya Wacana2 Dosen Fakultas Ekonomi Universitas Kristen Satya Wacana Salatiga

1