Company which is go public have to make annual report to BEI (Indonesian stock exchange)
and stockholder annually according to the decision of BAPEPAM chairman No. Kep
36/PM/2003, No 1 regulation XK 2 about the obligation of giving periodical financial report,
say that periodic financial report with accountant reporting give to BAPEPAM at least on the
last third month after the date of annual report. The result of company audit have to
announce to public through two Indonesian newspapaer periodically and on time. The …

The on-time publication of financial report is a signal from a company that shows the
existence of useful and new information required by investor in making decision. The
applied variables were examined using double linear regression model (2 steps), and
independent sample T-test. The population of the research was the companies listed in
Jakarta Stock Exchange in the year of 2003, 2004, and 2005 and determined with the
purposive sampling technique. The number of data used as the samples of the research was …