摘要：Pro Forma Disclosures And Investor Decision: Signaling Theoiy Empirical Test and Efficient Market Theory In Indonesia Stock Exchange (BEl). The o bjective ofresearch is to examine the signaling theory and effucient market theory whether the “quality”firms marketed theirfirm using pro forma disclosure and not mislead the investors. The pro forma dis-closure of inside information is made to remote the investors from the effect of adverse selectiorL The research approach is quantitative wilh multiple regression analysis. Research sample includes 113 firm years from 2001 to 2008. The research indicates mixed result. The fmding of research does not support the signaling theory that the “quality” firms give a signal to market through pro forma disclosure. Other impor-tant fmding shows that the simultaneous test empower the effucient market theory b y confuming that the market response to the day when the information is published.
其他摘要：Pengungkapan Pro Forma Dan Keputusan Investor: Uji EmpirisTeori Signaling Dan Teori Pasar Efisien Di Bursa Efek Indonesia (BEI). Penelitian ini bertujuan untuk menguji signaling theory and efflcient market theory apakah “kualitas ” perusahaan dalam memasa
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