ZARAH PUSPITANINGTYAS, 090710407D (2011) MANFAAT INFORMASI AKUNTANSI UNTUK MEMPREDIKSI RISIKO INVESTASI SAHAM BERDASARKAN PENDEKATAN DECISION USEFULNESS. Disertasi thesis, UNIVERSITAS AIRLANGGA.

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Abstract

This study intends to apply the decision usefulness approach of accounting information. The decision usefulness approach of accounting information emphasizes on how financial statements can be more useful? The consequences of this concept is that the accounting information contained in financial statements should provide the usefulness to users in terms of decision making. This study is to explain the usefulness of accounting information to predict the risk of stock investment based on the decision usefulness approach, technically shown through the effect of variable accounting on risk of stock investment. Based on analysis of 13 companies over a period of five years (2001 #8208;2005) by using multiple linear regression model showed that the current ratio and total assets turnover significantly influence the risk of stock investment. However, sign of regression coefficients are not consistent with the predictions of the study. The results indicate that the current ratio and total assets turnover have positive influence on the risk of stock investment. F test showed that the regression model with independent variables current ratio, debt equity ratio, total assets turnover, return on investment, sales growth, and price earning ratio significantly influence the risk of stock investment. The validation of prediction models showed no difference between the real investment risk and investment risk prediction, meaning that accounting information useful to predict the risk of stock investment.

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