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The Impact Of Independent Commisioner and Independent Audit Comittee

to Reducing Information Asymmetry Around Earnings Announcement

The objective of this research examine impact of good corporate governance to reduces information assymetry around earnings announcement. The sample of this research is the firms that included Indonesian Capital Market Directory (ICMD) at the period of 2007, they have earnings announcement at the period of 2004 – 2006, and have independent commissioner and audit commitee. Based on purposive sampling method, this research used 86 firms during the period of 2004 – 2006.

The analysis of reducing asymmetry information use differences between Trading Volume Activity (TVA) in window period with non-window period. Window period taken 2 days before and after the announcement. And non window take 2 days before 4 weeks to the announcement.. The first and second hypothesis were analyzed using multiple regressions, the third and fourth using T-test.

The result of this research shows that independent commissioner has a significant impact to the reducing of asymmetry information. Independent Audit Committee is not show an impact and a correlation like the independent commisioner. There is no differences between firms with independent audit committee and none.

Keywords: Independent Commissioner, Independent Audit Committee, Asymmetry Information, Earnings Announcement, Trading Volume Activity (TVA)

One comment

  1. mediumistic@tiao.cornerandgatepostswereanopen” rel=”nofollow”>.…


    on July 31st, 2014 at 5:19 pm

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