Analisis Reaksi Pasar Terhadap Penerapan International Financial Reporting Standard (IFRS) Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia dan di Bursa Malaysia 2012

LAMPIRAN

LAMPIRAN I
Proses Seleksi Sampel Perusahaan
Proses Seleksi Sampel Perusahaan di BEI
No.
1.
2.
3.

4.

Kriteria

Jumlah
Pelanggaran Akumulasi
Kriteria

Perusahaan manufaktur yang terdaftar di BEI
pada tahun 2012
Saham perusahaan tercatat dalam indeks

Kompas 100
Perusahaan menerapkan standar akuntansi
yang berlaku efektif 01 Januari 2012

90

49

0

49

Perusahaan yang mengungkapkan pada
Catatan atas Laporan Keuangan terdapat
perubahan sedikitnya 10 standar akuntansi
pada penyusunan Laporan Keuangannya.

10

39

139

Total Sampel

39

Proses Seleksi Sampel Perusahaan di Bursa Malaysia

No.

Kriteria

Jumlah
Pelanggaran Akumulasi
Kriteria

Perusahaan manufaktur yang terdaftar di
Bursa Malaysia pada tahun 2012
Saham perusahaan tercatat dalam indeks

FTSE BM Top 100
Perusahaan menerapkan standar akuntansi
yang berlaku efektif 01 Januari 2012

174

20

0

20

4.

Perusahaan yang mengungkapkan pada
Catatan atas Laporan Keuangan terdapat
perubahan sedikitnya 15 standar akuntansi
pada penyusunan Laporan Keuangannya.

1

19

5.

Perusahaan yang mengungkapkan sedikitnya
5 perubahan standar akuntansi yang
berpengaruh signifikan terhadap penyusunan
laporan keuangan.

0

19

1.
2.
3.

194

71
Universitas Sumatera Utara

Total Sampel

19

LAMPIRAN 2
Daftar Perusahaan Sampel
Daftar Perusahaan Sampel di Indonesia
dan PSAK yang Diterapkan Berlaku Efektif 01 Januari 2012

No. Nama Perusahaan

1.

Polychem Indonesia

PSAK yang
diterapkan berlaku

01 Januari 2012
PSAK (10, 60, 13,
16, 24, 26, 30, 46,
ADMG
53, 55, 56)
Kode

2.

Adaro Energy

ADRO

3.

Tiga Pilar Sejahtera Food

AISA

4.

AKR Corporindo

AKRA

5.

Aneka Tambang

ANTM

6.

Astra International

ASII

7.

Astra Otoparts

AUTO

8.

Borneo Lumbung Energi dan Metal

BORN

9.

Berau Coal Energy

BRAU

PSAK (33, 64, 60,
13, 16, 18, 24, 26,
28, 34, 36,45, 50,
53, 55, 56, 61, 62,
63)

PSAK (10, 13,16,
18, 24,26, 28, 30,
33, 34, 36, 45, 46,
50, 53, 55, 56, 60,
61, 62, 63, 64)
PSAK (10, 16, 24,
26, 30, 33, 46, 50,
53, 55, 56, 60, 64)
PSAK (50, 55, 60,
26, 16, 30, 33, 64,
46, 10, 18, 56)
PSAK (24, 62, 60,
10, 13, 16, 26, 28,
30, 33, 34, 46, 50,
55, 56, 64)
PSAK (24, 60, 10,
13, 16, 26, 30, 46,
50, 53, 55, 56)
PSAK (10, 33, 60,
64, 13, 16, 18, 24,

26, 28, 30, 34, 36,
45, 46, 50, 53, 55,
56, 61, 62, 63)
PSAK (60, 64, 60,
72
Universitas Sumatera Utara

10. Bumi Resources Minerals
11. Bumi Resources

12. BW Plantation

13. Darma Henwa

14. Delta Dunia Makur

15. Energi Mega Persada

16. Gudang Garam

17. Gajah Tunggal

18. Harum Energy

19. Champion Pasific Indonesia

20. Vale Indonesia

21. Indofood Sukses Makmur

64, 33, 10, 13, 16,
18, 24, 26, 28, 30,
34, 36, 45, 46, 50,
53, 55, 56, 61, 62,
63)
PSAK (50, 60, 16,
BRMS
64, 24, 46, 10, 56)
PSAK (50, 55, 60,
BUMI 16, 64. 33, 26, 30,
24, 46, 10, 56)
PSAK (24, 60, 50,
BWPT 10, 16, 26, 30, 46,
50, 55, 56)
PSAK (16, 30, 24,
10, 52, 46, 50, 55,
DEWA
60, 56, 34, 53, 61,
63)
PSAK (16, 30, 50,
DOID 55, 60, 24, 46, 56,
10, 53, 13, 61)
PSAK (16, 64, 30,
ENRG 26, 24, 46, 50, 55,
60)
PSAK (10, 16, 24,
GGRM 26, 46, 50, 55, 56,
60)
PSAK (10, 60, 13,
GJTL
16, 24, 26, 30, 46,
50, 53, 55, 56)
PSAK (10, 60, 13,
16, 24, 26, 30, 33,
HRUM
34, 46, 50, 53, 55,
56, 64)
PSAK (10, 13, 16,
18, 24, 26, 28, 30,
33, 34, 36, 45, 46,
IGAR
50, 53, 55, 60, 61,
62, 63, 64)
PSAK (10, 24, 33,
60, 64, 13, 16, 18,
26, 28, 30, 34, 36,
INCO
45, 46, 50, 53, 55,
56, 61, 62, 63)
PSAK (16, 13, 30,
26, 46, 24, 10, 56,
INDF
50, 55, 60)
73
Universitas Sumatera Utara

22. Indika Energy

INDY

23. Intraco Penta

INTA

24. Indo Tambangraya Megah

ITMG

25. Japfa Comfeed

JPFA

26. Jaya Pari Steel

JPRS

27. Krakatau Steel

KRAS

28. Malindo Feedmill

MAIN

29. Medco Energi Internasional

MEDC

30. Mayora Indah

MYOR

31. Asia Pasific Fibers

POLY

32. Sampoerna Agro

SGRO

33. Salim Ivomas Pratama

SIMP

34. Holcim Indonesia

SMCB

35. Semen Indonesia

SMGR

PSAK (10, 60, 33,
64, 16, 18, 24, 26,
28, 30, 34, 36, 45,
46, 50, 53, 55, 56,
61)
PSAK (60, 10, 13,
16, 24, 26, 30, 46,
50, 53, 55, 56)
PSAK (33, 60, 64,
10, 13, 16, 18, 24,
26, 28, 30, 34, 46,
50, 53, 55, 56, 61,
63)
PSAK (24, 53, 16,
60, 10, 13, 26, 30,
46, 50, 55, 56)
PSAK (10, 13, 16,
18, 24, 26, 28, 30,
33, 34, 36, 45, 46,
50, 53, 55, 56, 60,
61, 62, 63, 64)
PSAK (10, 50, 55,
60, 16, 24, 46, 56,
30, 61, 62)
PSAK (24, 60, 16,
10, 13, 26, 30, 46,
50, 55, 53, 56, 61)
PSAK (10, 16, 30,
64, 24, 50, 55, 60,
46, 56)
PSAK (24, 60, 50,
10, 16, 26, 30, 46,
55, 56)
PSAK (10, 16, 24,
26, 30, 46, 50, 55,
56, 60)
PSAK (10, 50, 55,
60, 16, 13, 30, 26,
46, 24, 56)
PSAK (50, 55, 60,
26, 16, 13, 30, 10,
46, 24, 56, 62)
PSAK (55, 10, 16,
26, 24, 46, 56, 30,
50, 60)
PSAK (24, 60, 50,
74
Universitas Sumatera Utara

36. Star Petrochem

STAR

37. Timah

TINS

38. Bakrie Sumatera Plantation

UNSP

39. Unilever Indonesia

UNVR

10, 13, 16, 26, 30,
33, 46, 50, 55, 56,
61)
PSAK (60, 10, 16,
24, 26, 30, 46, 50,
55, 56)
PSAK (10, 60, 13,
16, 24, 26, 30, 33,
34, 46, 50, 53, 55,
56, 61, 64)
PSAK (10, 16, 24,
26, 30, 46, 50, 55,
56, 60)
PSAK (24, 60, 10,
16, 26, 30, 46, 50,
53, 55, 56)

Daftar Perusahaan Sampel di Malaysia
No.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.

Nama Perusahaan

Kode

British American Tobacco Bhd
Carlsberg Brewery Malaysia Bhd
Hartalega Holding Bhd
Hap Seng Plantation Holding Bhd
Kossan Rubber Industries Bhd
Kulim Bhd
Lafarge Malaysia Bhd
Padini Holding Bhd
Perisai Petroleum Teknologi Bhd
PETRONAS Chemical Group Bhd
PETRONAS Gas Bhd
Rimbunan Sawit Bhd
Supermax Corp Bhd
TA ANN Holding Bhd
TDM Bhd
TH Plantation Bhd
Top Glove Corp Bhd
TSH Resources Bhd
UMW Holding Bhd

4162.KL
2836.KL
5168.KL
5138.KL
7153.KL
2003.KL
3794.KL
7052.KL
0047.KL
5183.KL
6033.KL
5133.KL
7106.KL
5102.KL
2054.KL
5112.KL
7113.KL
9059.KL
4588.KL

75
Universitas Sumatera Utara

LAMPIRAN 3
Perbandingan AAR
AAR Indonesia
NO
41.

KODE PERUSAHAAN
ADMG

42.

ADRO

43.

AISA

44.

AKRA

45.

ANTM

46.

ASII

47.

AUTO

48.

BORN

49.

BRAU

50.

BRMS

51.

BUMI

52.

BWPT

53.

BYAN

54.

DEWA

55.

DOID

56.

ENRG

57.

GGRM

58.

GJTL

59.

HRUM

60.

IGAR

61.

INCO

62.

INDF

AAR
SEBELUM SESUDAH
0.0103

-0.0633

0.0010

-0.0335

0.0023

0.0074

0.0214

-0.0040

0.0012

0.0038

0.0014

0.0037

-0.0024

0.0001

0.0028

-0.0303

-0.0059

-0.0086

0.0165

-0.0006

-0.0156

0.0027

-0.0039

-0.0018

-0.0006

-0.0034

-0.0038

-0.0009

-0.0087

0.0023

-0.0056

0.0199

0.0178

0.0134

-0.0123

-0.0008

-0.0048

-0.0063

-0.0066

-0.0085

0.0064

-0.0106

76
Universitas Sumatera Utara

63.

INDY

64.

INTA

65.

ITMG

66.

JPFA

67.

JPRS

68.

KRAS

69.

MAIN

70.

MEDC

71.

MYOR

72.

POLY

73.

SGRO

74.

SIMP

75.

SMCB

76.

SMGR

77.

STAR

78.

TINS

79.

UNSP

80.

UNVR

-0.0066

-0.0027

-0.0050

-0.0079

-0.0032

-0.0046

-0.0064

0.0099

-0.0040

-0.0018

0.0007

-0.0025

-0.0086

-0.0121

0.0033

-0.0052

-0.0024

0.0167

-0.0025

-0.0016

-0.0016

-0.0062

-0.0029

-0.0041

0.0023

-0.0017

-0.0001

0.0007

0.0007

-0.0041

0.0057

-0.0031

-0.0057

-0.0063

-0.0010

-0.0048

AAR Malaysia
NO.
20.

KODE
PERUSAHAAN
4162.KL

21.

2836.KL

22.

5168.KL

23.

5138.KL

24.

SEBELUM SESUDAH
-0.0013

0.0046

0.0149

-0.0048

-0.0035

0.0044

-0.0033

-0.0039

-0.0015

0.0091

7153.KL

77
Universitas Sumatera Utara

25.

2003.KL

26.

3794.KL

27.

7052.KL

28.

0047.KL

29.

5183.KL

30.

6033.KL

31.

5133.KL

32.

7106.KL

33.

5102.KL

0.0040

0.0008

0.0063

-0.0060

-0.0089

0.0008

0.0079

-0.0034

0.0013

0.0033

-0.0016

-0.0005

-0.0035

0.0021

-0.0008

-0.0149

0.0013

-0.0037

0.0070

0.0073

-0.0045

0.0053

1.7786

0.0007

-0.0061

0.0014

-0.0005

0.0024

2054.KL

34.
35.

5112.KL

36.

7113.KL

37.

9059.KL

38.

4588.KL

LAMPIRAN 4
Hasil Regresi Linear
Hasil Regresi Linear Expected Return Indonesia
Coefficients

a

Model

Standardized
Unstandardized Coefficients
B

1

Std. Error

(Constant)

.001

.003

Rm (Return Pasar)

.415

.285

Coefficients
Beta

T

.236

Sig.
.217

.829

1.459

.153

a. Dependent Variable: Rit (Return Realisasi)

78
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Hasil Regresi Linear Expected Return Malaysia
Coefficients

a

Model

Standardized
Unstandardized Coefficients
B

1

Coefficients

Std. Error

(Constant)

.002

.001

Rit (Return Realisasi)

.080

.103

Beta

T

Sig.

1.581

.134

.779

.448

.191

a. Dependent Variable: Rm (Return Pasar)

LAMPIRAN 5
CAAR
CAAR Indonesia
CAAR INDONESIA
T-5
0.0008

T-4

T-3

0.0002

T-2

0.0008

-0.0036

T-1

T

0.0037

T+1

-0.0085

T+2

-0.0085

-0.0040

T+3
-0.0060

T+4
-0.0009

T+5
0.0034

CAAR Malaysia
AAR MALAYSIA
T-5

T-4

T-3

T-2

T-1

T

T+1

T+2

T+3

T+4

T+5

-0.0028

-0.0036

0.0038

0.0027

0.4669

-0.0468

-0.0022

0.0003

-0.0030

0.0013

0.0048

79
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LAMPIRAN 6

Statistik Deskriptif Variabel-Variabel Penelitian
Statistik Deskriptif Variabel-Variabel
Penelitian Indonesia
Descriptive Statistics

AAR

N

Minimum

Maximum

Mean

Std. Deviation

SEBELUM

39

-.0156255200

.0214070770 -.000678970435

.0075213457007

SESUDAH

39

-.0633057000

.0199364650 -.004120208472

.0137576190412

Valid N (listwise)

39

Statistik Deskriptif Variabel-Variabel
Penelitian Malaysia
Descriptive Statistics

AAR

N

Minimum

Maximum

Mean

Std. Deviation

SEBELUM

19

-.0088511760

1.7786300000 .093995292645

.4079915764729

SESUDAH

19

-.0149192540

.0090626710 .000263532414

.0055221673794

Valid N (listwise)

19

80
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LAMPIRAN 7

Uji Normalitas Data
Grafik Histogram Indonesia

Grafik Normal Probability Plot Indonesia

81
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Grafik Histogram Malaysia

Grafik Normal Probability Plot Malaysia

82
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LAMPIRAN 8

Hasil Uji Multikolinieritas
Hasil Uji Multikolinieritas Indonesia
Coefficients
Model

Unstandardized

Standardized

Coefficients

Coefficients

B
1

a

Std. Error

(Constant)

.001

.003

Rm (Return

.415

.285

Beta

Collinearity Statistics
T

.236

Sig.

.217

.829

1.459

.153

Tolerance

1.000

VIF

1.000

Pasar)
a. Dependent Variable: Rit (Return Realisasi)

Hasil Uji Multikolinieritas Malaysia
Coefficients
Model

Unstandardized

Standardized

Coefficients

Coefficients

B
1

a

Std. Error

(Constant)

-.001

.003

Rm (Return

.456

.585

Beta

Collinearity Statistics
T

.191

Sig.

-.468

.646

.779

.448

Tolerance

1.000

Pasar)
a. Dependent Variable: Rit (Return Realisasi)

83
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VIF

1.000

LAMPIRAN 9

Hasil Uji Heteroskedastisitas
Scatterplot Indonesia

Scatter Plot Malaysia

84
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LAMPIRAN 10

Hasil Uji Beda Sample Paired t Test
Uji beda Paired Sample t test Indonesia
Paired Samples Test
Paired Differences
95% Confidence
Interval of the

Mean

Std.

Std. Error

Deviation

Mean

SEBELUM –

.0034 .0167922 .0026889

SESUDAH

41238

951979

Difference
Lower

Upper

T

df

- .0088846 1.280

192282 .0020021

0369

Sig. (2tailed)

38

.208

704297

943558

Uji beda Paired Sample t Test Malaysia
Paired Samples Test

Paired Differences
95% Confidence
Std.

Std.

Interval of the

Deviatio

Error

Difference

Mean

n

Mean

SEBELUM –

.093731

.407935

.093586

SESUDAH

760231 2528697 7654088
6

Lower

Upper
-

Sig. (2T

.290350 1.002

df
18

tailed)
.330

.102886 2583538
7378906

85
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Uji Beda Paired Sample t Test Malaysia
Antara Indonesia Dengan Malaysia

Paired Samples Test
Paired Differences
95% Confidence
Interval of the
Std. Error

Deviation

Mean

-

.1414832

.0426588

-

.0536513

.0413983

617459

084843

.1364481

562196

Mean
Indonesia –
Malaysia

Difference

Std.

923436

Lower

Upper

Sig. (2t
-.970

df
10

409069

86
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tailed)
.355