Peran Income Smoothing dalam Meningkatkan Earnings Informativeness

The purpose of this study was to obtain empirical evidence of income smoothing effect on earnings informativeness. Earnings informativeness is the information content of future returns that reflected from return (Tucker and Zarowin, 2006). This study will develop a CKSS concept that developed by Collins et al. (1994), which tested the earnings informativeness through future earnings response coefficients (future earnings response coefficient / FERC) in measuring the influence of the stock return movement in future earnings. The samples in the study were determined by using purposive sampling, which took samples of non-financial companies, with years of observation from 2004 to 2011. The research sample includes 104 non-financial companies listed on the Indonesia Stock Exchange. This study using SPSS 20 version, as multiple regression analysis (multiple regression). Tests conducted on the interaction effect of income smoothing with future earnings to return. The test results in this study showed a significant positive value, indicated that income smoothing action able to strengthening the relationship of earnings and return. This proves that income smoothing action is not always biased (garbles), but this action is aimed as efficient communication, because the information generated by company is significantly can be used as a prediction of future information. These results are consistent with Zarowin (2002), Tucker and Zarowin (2006), Cahan et al., (2008), as well as Hamzawi and Alfatooni (2011)