PENGARUH MODAL INTELEKTUAL DAN MANAJEMEN LABA RIIL TERHADAP FUTURE STOCK RETURN
Keywords:Intellectual Capital, Real Earnings Management, Future Stock Return
In assessing the ability and performance of a company before making investment decisions, investors need information on future stock returns. One of the disclosures that is useful in assessing the returns obtained by investors is earnings information and company intellectual disclosures. However, in reality the disclosure of intellectual capital in Indonesia is still low even though it has been stipulated in PSAK No. 19 (Revised 2010). This is due to the low awareness of Indonesian companies on the importance of intellectual capital in creating and maintaining competitive advantage. This research to examine the effect of Intellectual Capital and Real Earnings Management on Future Stock Returns. The population of this research is 182 manufacturing companies listed on the Indonesia Stock Exchange during the 2017-2019 period. Based on the purposive sampling method, the total of research sample is 44 companies. Hypothesis testing used in the research used multiple linear regression analysis with the help of SPSS software version 25.The results showed that Intellectual Capital has an effect on Future Stock Return with the significance level of intellectual capital 0.048, (2) Real Earnings Management has an effect on Future Stock Return with the significance level value of real earnings management 0.011.