Pengaruh Publikasi Laporan Arus Kas Terhadap Volume Perdagangan Saham Pada Perusahaan Property And Real Estate Yang Terdaftar Di Bursa Efek Indonesia (BEI)”

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Effect of Publication of Cash Flow Report on Stock Trading Volume in Property and Real Estate Companies Listed on the Indonesia Stock Exchange (BEI)

Introduction

The Indonesia Stock Exchange (IDX) is one of the largest stock exchanges in Southeast Asia, with a wide range of companies listed across various sectors, including property and real estate. As investors seek to make informed decisions about their investments, they rely heavily on financial statements, which provide a comprehensive picture of a company's financial performance and position. One crucial component of financial statements is the Cash Flow Report (LAK), which has been a mandatory disclosure for companies listed on the IDX since January 1, 1995, as per Financial Accounting Standards (SAK) No. 2. This study aims to investigate the effect of the information contained in LAK on investor investment decisions, specifically in the property and real estate sectors listed on the IDX.

Background

Financial statements are a window for investors to understand the conditions and performance of a company. The Cash Flow Report (LAK) is a critical component of financial statements, as it provides insights into a company's ability to generate cash from its operations, investments, and financing activities. The LAK is composed of three main components: Cash Flow from Operating Activities (AKOP), Cash Flow from Investment and Funding Activities (AKIN), and Cash Flow from Financing Activities (AKDA). These components provide investors with valuable information about a company's liquidity, profitability, and growth potential.

Research Methodology

This study involved 24 samples of property and real estate companies listed on the IDX. The sampling technique used was purposive sampling, where companies were selected based on their relevance to the research objectives. The audit financial statements were obtained directly from the website www.idx.co.id. The study analyzed the changes in trading volumes 5 days before and 5 days after the publication of financial statements as a benchmark of the influence of LAK information on investor investment decisions.

Results

The results of this study showed that AKOP, AKIN, and AKDA simultaneously had a significant effect on the volume of stock trading. However, partially, only AKOP had a significant effect on the volume of stock trading. Meanwhile, AKIN and AKDA did not show a significant effect on the volume of stock trading.

Deeper Analysis

This finding suggests that investors tend to pay more attention to AKOP information in investment decision-making in the property and real estate sector. Several factors may contribute to this phenomenon:

Operational Cash Flow Stability: Cash flow from operating activities reflects a company's ability to generate profits from its main activity. Investors tend to be more confident with companies that have stable and positive operating cash flows.

Investment Risk: Cash flow from investment and funding activities is often more volatile and reflects a company's long-term strategy. Investors may be more careful in responding to this information, given the inherent risk potential.

Implications for Investors

This study provides important information for investors who want to invest in the property and real estate sectors. Investors are advised to pay attention to AKOP information contained in LAK as the main indicator in making investment decisions.

Suggestions for Further Research

This study can be continued by considering other variables that can influence investment decisions, such as financial ratios, macroeconomic conditions, and market sentiment.

Conclusion

The information contained in LAK, especially AKOP, has a significant influence on the volume of trading shares in the property and real estate sector on the IDX. Investors tend to be more responsive to AKOP information, given the significance of the operating cash flow in assessing a company's performance and growth potential.

Recommendations for Practitioners

This study has several implications for practitioners, including:

  • Investors: Pay attention to AKOP information contained in LAK as the main indicator in making investment decisions.
  • Company Management: Ensure that AKOP information is accurately reported and disclosed in LAK to provide investors with a comprehensive picture of the company's financial performance and position.
  • Regulatory Bodies: Continue to monitor and enforce the disclosure of LAK information to ensure that investors have access to accurate and timely information.

Limitations of the Study

This study has several limitations, including:

  • Sample Size: The study only analyzed 24 samples of property and real estate companies listed on the IDX.
  • Time Period: The study only analyzed the changes in trading volumes 5 days before and 5 days after the publication of financial statements.
  • Variables: The study only considered AKOP, AKIN, and AKDA as the main variables influencing investor investment decisions.

Future Research Directions

This study can be continued by considering other variables that can influence investment decisions, such as financial ratios, macroeconomic conditions, and market sentiment. Additionally, the study can be replicated in other sectors and countries to provide a more comprehensive understanding of the effect of LAK information on investor investment decisions.
Q&A: Effect of Publication of Cash Flow Report on Stock Trading Volume in Property and Real Estate Companies Listed on the Indonesia Stock Exchange (BEI)

Frequently Asked Questions

Q1: What is the purpose of this study?

A1: The purpose of this study is to investigate the effect of the information contained in the Cash Flow Report (LAK) on investor investment decisions, specifically in the property and real estate sectors listed on the Indonesia Stock Exchange (IDX).

Q2: What are the main components of the Cash Flow Report (LAK)?

A2: The Cash Flow Report (LAK) is composed of three main components: Cash Flow from Operating Activities (AKOP), Cash Flow from Investment and Funding Activities (AKIN), and Cash Flow from Financing Activities (AKDA).

Q3: What is the significance of AKOP in the Cash Flow Report (LAK)?

A3: AKOP reflects a company's ability to generate profits from its main activity. Investors tend to be more confident with companies that have stable and positive operating cash flows.

Q4: What is the implication of this study for investors?

A4: This study provides important information for investors who want to invest in the property and real estate sectors. Investors are advised to pay attention to AKOP information contained in LAK as the main indicator in making investment decisions.

Q5: What are the limitations of this study?

A5: This study has several limitations, including a small sample size, a limited time period, and a focus on only three variables (AKOP, AKIN, and AKDA).

Q6: What are the future research directions for this study?

A6: This study can be continued by considering other variables that can influence investment decisions, such as financial ratios, macroeconomic conditions, and market sentiment. Additionally, the study can be replicated in other sectors and countries to provide a more comprehensive understanding of the effect of LAK information on investor investment decisions.

Q7: What are the implications of this study for company management?

A7: Company management should ensure that AKOP information is accurately reported and disclosed in LAK to provide investors with a comprehensive picture of the company's financial performance and position.

Q8: What are the implications of this study for regulatory bodies?

A8: Regulatory bodies should continue to monitor and enforce the disclosure of LAK information to ensure that investors have access to accurate and timely information.

Q9: What are the benefits of this study for investors, company management, and regulatory bodies?

A9: This study provides valuable insights for investors, company management, and regulatory bodies by highlighting the importance of AKOP information in the Cash Flow Report (LAK) and its impact on investor investment decisions.

Q10: What are the future implications of this study?

A10: This study has the potential to influence the way investors, company management, and regulatory bodies approach financial reporting and disclosure, ultimately leading to more informed investment decisions and better corporate governance practices.

Conclusion

This Q&A article provides a comprehensive overview of the effect of the publication of the Cash Flow Report (LAK) on stock trading volume in property and real estate companies listed on the Indonesia Stock Exchange (IDX). The study highlights the significance of AKOP information in the Cash Flow Report (LAK) and its impact on investor investment decisions. The implications of this study are far-reaching, with potential benefits for investors, company management, and regulatory bodies.