PENGARUH EFEKTIVITAS PRAKTIK PENGUNGKAPAN RISIKO TERHADAP VOLATILITAS RETURN SAHAM DAN NILAI PERUSAHAAN (STUDI EMPIRIS PADA PERUSAHAAN ASURANSI YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015 – 2017)

*Antania Fortuneysa  -  Departemen Akuntansi Fakultas Ekonomika dan Bisnis Universitas Diponegoro
Andrian Budi Prasetyo  -  Departemen Akuntansi Fakultas Ekonomika dan Bisnis Universitas Diponegoro
Received: 14 Nov 2019; Published: 15 Nov 2019.
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Abstract
This study investigates the association between the effectiveness of risk disclosure practices, stock return volatility, and firm value. The independent variables is the effectiveness of risk disclosure practices, measured using a risk disclosure index for insurers. Stock return volatility, and firm value are the dependent variables of this study. The result shows that corporate risk disclosure has a negative effect in the stock return volatility and financial crisis has not significant in moderating the relationship between risk disclosure and stock return volatility. Then, corporate risk disclosure has a positive effect on firm value.
Keywords: risk disclosure, stock return volatility, financial crisis, and firm value.

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