Doctor of Philosophy
Department of Accounting and Finance
Putrasemadhi, Ngurah Arya, Investment decisions and the puzzle of share price movements in capital markets: a case study, Doctor of Philosophy thesis, Department of Accounting and Finance, University of Wollongong, 1997. http://ro.uow.edu.au/theses/1020
Information criteria is critical in the study of users' information needs. Most previous studies concerning the role of information examined the financial statement preparation process and measured the usefulness of information In terms of its adequacy and accuracy as disclosed in financial statements. In this study, the role of information is based on users' perceptions by analyzing public information along some sort of information criteria ie, political economic and soclo-economic, and examining them with regard to users' attitudes in the capital market.
This study argues that in the area of a less mature capital market, most investors rely on political economy information for the reliability of information in making economic decisions in the capital market, This study also supports previous research concerning the role of information. These study show that information disclosed in financial statements prepared in developing countries is relatively less reliable than information contained in financial statements prepared in economically developed countries.