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Abstrak :
ABSTRAK
This study investigates whether there is any different market reaction to unqualified and unqualified with explanatory paragraph audit opinion. The result of empirical univariate and regression test on 291.firm-years, with balanced proportion between the two opinions, shows that there is a significant difference of stock returns between the two audit opinions around opinion announcement. Market appreciates the existence of explanatory paragraph in the unqualified audit opinion with higher excess returns compared to standard unqualified audit opinion. Overall, this study shows incremental information content in unqualified with explanatory paragraph audit opinion.

Abstrak :
Penelitian ini menguji perbandingan prediksi Economic Value Added (EVA), Residual Income (RI) dan ukuran kinerja konvensional Net Income (NI) dan Free Cash Flow (FCF) terhadap imbal hasil saham di Indonesia. Penelitian ini menggunakan 110 data observasi, uji konten informasi relatif (relative information content) dan uji konten informasi inkremental (incremental information content) pada perusahaan yang memiliki bad debt. Hasil penelitian ini menunjukkan bahwa Economic Value Added (EVA) memiliki konten informasi relatif yang lebih baik dibandingkan Residual Income (RI), Net Income (NI) dan Free Cash Flow (FCF). Economic Value Added (EVA) juga memiliki konten informasi inkremental yang lebih baik dibandingkan Net Income (NI), Residual Income (RI) dan Free Cash Flow (FCF). ...... This study examines the predicting comparison of Economic Value Added (EVA), Residual Income (RI) and conventional performance measure Net Income (NI) and Free Cash Flow (FCF) to the Annual Stock Return In Indonesia. This study uses 110 observation data, relative information content test and incremental information content test to the companies that have bad debt. The results suggest that Economic Value Added (EVA) has higher relative information content better than Residual Income (RI), Net Income (NI) and Free Cash Flow (FCF). Economic Value Added (EVA) has incremental information content better than Net Income (NI), Residual Income (RI) and Free Cash Flow (FCF).