Tabel II.1 Penelitian Mengenai Tindakan Perataan Laba di Pasar Modal Indonesia

L1 Tabel II.1 Penelitian Mengenai Tindakan Perataan Laba di Pasar Modal Indonesia Peneliti, Tahun Permasalahan Sampel Metodologi Hasil Anna Suzanti Meneliti apakah ada pengaruh 130 perusahaan Teknik analisis berupa Hasil analisis menunjukkan (2001) perataan laba terhadap return yang terdaftar regresi linier sederhana bahwa ada pengaruh perataan saham dan resiko pasar saham di Bursa Efek dan uji z laba atas return saham dan resiko Jakarta pasar saham perusahaan perata laba Ratno Apakah terdapat perbedaan 62 perusahaan Indeks Eckel, teknik Hasil penelitian menunjukkan Agriyanto reaksi pasar dan rata-rata resiko yang terdaftar analisis regresi bahwa tidak terdapat perbedaan (2006) investasi antara perusahaan di Bursa Efek berganda, uji t, dan reaksi pasar dan rata-rata resiko perata laba dan bukan Jakarta pengujian asumsi investasi antara perusahaan perata laba klasik perata laba dan bukan perata laba Syahril Pengaruh dan hubungan 36 perusahaan Modified Jones Model, Hasil penelitian menyatakan bahwa Djaddang perataan laba (net earnings, manufaktur statistik deskriptif, uji hanya variabel discretionary (2006) leverage, total asset, yang terdaftar normalitas, uji asumsi accrual yang tidak mempunyai discretionary accrual) terhadap di Bursa Efek klasik, dan uji hipotesis hubungan positif dengan ekspektasi kinerja masa Jakarta ekspektasi laba masa depan depan perusahaan

L2 Peneliti, Tahun Permasalahan Sampel Metodologi Hasil Yuliana Bagaimana pengaruh perataan 58 perusahaan Indeks Eckel, teknik Hasil penelitian menunjukkan Mawarti laba terhadap reaksi pasar manufaktur analisis data dengan bahwa tindakan perataan laba (2007) yang terdaftar Ordinary Least Square mempunyai pengaruh negatif di Bursa (OLS) terhadap reaksi pasar Efek Jakarta Muhammad Menganalisis tingkat pengaruh 59 perusahaan Estimasi market Hasil penelitian menyebutkan Aulia Rahman tindakan perataan laba terhadap di Bursa Efek model, data dianalisis bahwa reaksi pasar pada (2008) reaksi pasar Indonesia dengan uji distribusi t perusahaan perata laba lebih kecil daripada reaksi pasar perusahaan bukan perata laba

L3 Tabel II.2 Penelitian Mengenai Faktor-Faktor yang Mempengaruhi Tindakan Perataan Laba Peneliti, Tahun Permasalahan Sampel Metodologi Hasil Nani Syahriana Menguji faktor-faktor (besaran 73 perusahaan Indeks Eckel, Sebanyak 15 perusahaan (2006) perusahaan, net profit margin, manufaktur pengujian univariate melakukan perataan laba, operating profit margin,return di Bursa Efek (t-test, Mann- hanya operating profit margin yang on asset) yang mempengaruhi Jakarta Whitneytest), terbukti berpengaruh terhadap praktik perataan laba pengujian praktik perataan laba multivariate (logistic regression) Diefky Menganalisis faktor-faktor 52 perusahaan Indeks Eckel, Hasil penelitian menunjukkan Berryllian (besaran perusahaan, net profit manufaktur pengujian univariate bahwa besaran perusahaan, (2007) margin, operating profit margin, dan keuangan (Mann-Whitney Test net profit margin, operating profit kelompok usaha) yang di Bursa Efek dan Two- margin dan kelompok usaha tidak berhubungan dengan timbulnya Jakarta Independent sample berpengaruh terhadap praktik praktik perataan laba t-test) perataan laba Diastiti Menguji pengaruh jenis usaha, 61 perusahaan Indeks Eckel, Jenis usaha dan ukuran perushaan Okkarisma ukuran perusahaan dan financial manufaktur pengujian hipotesis tidak berpengaruh terhadap praktik Dewi leverage terhadap tindakan dan 42 dengan model perataan laba pada perusahaan (2010) perataan laba perusahaan analisis Ordinary manufaktur dan keuangan. Namun, keuangan di Least Square (OLS) financial leverage hanya Bursa Efek berpengaruh pada tindakan perataan Indonesia laba di perusahaan keuangan

L4 Lampiran 1 Data Net Earnings No. Kode Nama Perusahaan Net Earnings (Million Rupiah) 2006 2007 2008 2009 1 AISA Tiga Pilar Sejahtera Food Tbk 130 15,760 28,686 37,787 2 CEKA Cahaya Kalbar Tbk 15,291 24,676 27,868 49,463 3 DLTA Delta Djakarta Tbk 43,284 47,331 83,754 126,504 4 FAST Fast Food Indonesia Tbk 68,929 102,537 125,268 181,997 5 MLBI Multi Bintang Indonesia Tbk 73,581 84,385 222,307 340,458 6 PTSP Pioneerindo Gourment -1,851 163 4,287 10,949 7 SIPD Sierad Produce Tbk 40,954 21,196 27,254 37,215 8 SMAR PT SMART Tbk 628,005 988,944 1,046,389 748,495 9 TBLA Tunas Baru Lampung Tbk 52,884 97,227 63,337 138,245 10 ULTJ Ultra Jaya Milk Tbk 14,732 30,317 303,712 61,153 11 RMBA Bentoel International Investama 145,510 242,917 239,138 25,165 12 HMSP HM Sampoerna Tbk 3,530,490 3,624,018 3,895,280 5,087,339 13 PBRX Pan Brothers Tex Tbk 9,748 24,638-41,258 33,282 14 RICY Ricky Putra Globalindo Tbk 38,226 41,396-9,375 3,572 15 FASW Fajar Surya Wisesa Tbk 101,728 121,970 36,554 276,729 16 TKIM Pabrik Kertas Tjiwi Kimia Tbk -571,372 94,742 565,965 298,591 17 SAIP Surabaya Agung Industry Pulp 18,260 203,847-434,703 335,564 18 SPMA Suparma Tbk 23,293 27,397-14,302 26,932 19 AKRA AKR Corporindo Tbk 128,084 191,208 210,033 274,719 20 BUDI Budi Acid Jaya Tbk 20,678 46,177 32,981 146,415 21 CLPI Colorpak Indonesia Tbk 7,670 9,758 17,056 30,909 22 LTLS Lautan Luas Tbk 29,677 71,670 145,846 85,925

23 TRST Trias Sentosa Tbk 25,942 17,747 58,025 143,882 24 ALMI Alumindo Light Metal Tbk 83,211 31,726 4,567 26,221 25 JPRS Jaya Pari Steel Tbk 26,796 41,566 49,158 1,917 26 LION Lion Metal Works Tbk 20,642 25,298 37,840 33,613 27 PICO Pelangi Indah Canindo Tbk 1,880 8,525 12,986 12,657 28 KDSI Kedawung Setia Industrial Tbk 1,815 14,500 5,716 10,511 29 ARNA Arwana Citra Mulia Tbk 28,254 43,433 54,290 63,888 30 KBLM Kabelindo Murni Tbk 10,508 5,314 3,988 1,695 31 SCCO SUCACO Tbk 51,643 54,209 11,219 18,467 32 IKBI Sumi Indo Kabel Tbk 44,374 77,467 97,687 28,719 33 VOKS Voksel Electric Tbk 35,597 53,701 5,238 53,563 34 ASGR Astra Graphia Tbk 55,565 72,074 62,487 66,947 35 MTDL Metrodata Electronics Tbk 20,776 28,480 29,956 10,065 36 GDYR Goodyear Indonesia Tbk 25,397 42,399 812 121,086 37 HEXA Hexindo Adiperkasa Tbk 39,428 49,522 255,485 199,285 38 INTA Intraco Penta Tbk 7,066 9,514 22,944 37,473 39 NIPS Nipress Tbk 8,039 6,394 1,551 3,685 40 SMSM Selamat Sempurna Tbk 66,175 80,325 91,472 132,850 41 TURI Tunas Ridean Tbk 22,211 189,816 245,079 310,387 42 DVLA Darya-Varia Laboratoria Tbk 52,509 49,918 70,819 72,272 43 INAF Indofarma Tbk 15,241 11,077 5,032 2,126 44 KAEF Kimia Farma Tbk 43,990 52,189 55,394 62,507 45 SCPI Schering Plough Indonesia Tbk -2,493 2,569 6,621 10,789 46 TSPC Tempo Scan Pacific Tbk 272,584 278,358 320,648 359,964 47 TCID Mandom Indonesia Tbk 100,118 111,232 114,854 124,612 48 MRAT Mustika Ratu Tbk 9,096 11,130 22,290 21,017 L5

L6 Lampiran 2 Data Total Assets No. Kode Nama Perusahaan Total Assets (Million Rupiah) 2006 2007 2008 2009 1 AISA Tiga Pilar Sejahtera Food Tbk 363,933 515,609 1,016,958 1,347,036 2 CEKA Cahaya Kalbar Tbk 280,807 613,680 604,642 568,363 3 DLTA Delta Djakarta Tbk 577,411 592,359 698,297 760,426 4 FAST Fast Food Indonesia Tbk 483,575 629,491 784,759 1,041,409 5 MLBI Multi Bintang Indonesia Tbk 610,437 621,835 941,389 993,465 6 PTSP Pioneerindo Gourment 75,759 74,009 81,755 90,667 7 SIPD Sierad Produce Tbk 1,113,796 1,294,773 1,384,707 1,641,295 8 SMAR PT SMART Tbk 5,311,931 8,063,169 10,025,916 10,210,595 9 TBLA Tunas Baru Lampung Tbk 2,049,163 2,457,120 2,802,497 2,786,340 10 ULTJ Ultra Jaya Milk Tbk 1,249,080 1,362,830 1,740,646 1,732,702 11 RMBA Bentoel International Investama 2,347,942 3,859,160 4,455,532 4,302,659 12 HMSP HM Sampoerna Tbk 12,659,804 15,680,542 16,133,819 17,716,447 13 PBRX Pan Brothers Tex Tbk 553,846 833,093 952,742 819,565 14 RICY Ricky Putra Globalindo Tbk 516,488 574,677 645,757 599,719 15 FASW Fajar Surya Wisesa Tbk 3,421,892 3,769,588 3,718,548 3,671,235 16 TKIM Pabrik Kertas Tjiwi Kimia Tbk 19,102,295 20,413,709 24,783,879 22,240,916 17 SAIP Surabaya Agung Industry Pulp 2,202,306 2,661,804 2,523,434 2,413,703 18 SPMA Suparma Tbk 1,381,434 1,501,892 1,564,902 1,432,637 19 AKRA AKR Corporindo Tbk 2,377,340 3,497,591 4,874,851 6,059,070 20 BUDI Budi Acid Jaya Tbk 931,614 1,485,651 1,698,750 1,598,824 21 CLPI Colorpak Indonesia Tbk 133,360 167,583 258,898 219,199 22 LTLS Lautan Luas Tbk 1,830,516 2,135,084 3,494,853 3,081,130

23 TRST Trias Sentosa Tbk 2,020,478 2,138,991 2,158,866 1,921,660 24 ALMI Alumindo Light Metal Tbk 1,249,710 1,370,928 1,636,668 1,481,611 25 JPRS Jaya Pari Steel Tbk 189,384 268,790 399,344 353,951 26 LION Lion Metal Works Tbk 187,689 216,130 253,142 271,366 27 PICO Pelangi Indah Canindo Tbk 270,734 452,880 588,564 542,660 28 KDSI Kedawung Setia Industrial Tbk 439,737 542,060 485,722 550,691 29 ARNA Arwana Citra Mulia Tbk 478,778 630,587 736,092 822,687 30 KBLM Kabelindo Murni Tbk 279,438 432,681 459,111 354,781 31 SCCO SUCACO Tbk 673,668 1,293,677 1,126,782 1,042,755 32 IKBI Sumi Indo Kabel Tbk 590,296 589,322 636,409 561,949 33 VOKS Voksel Electric Tbk 471,940 805,074 1,165,128 1,237,958 34 ASGR Astra Graphia Tbk 584,839 624,557 841,054 774,857 35 MTDL Metrodata Electronics Tbk 740,800 1,162,251 1,288,796 1,059,054 36 GDYR Goodyear Indonesia Tbk 454,851 579,661 1,022,329 1,127,630 37 HEXA Hexindo Adiperkasa Tbk 1,204,104 1,383,840 1,838,946 2,025,970 38 INTA Intraco Penta Tbk 831,846 863,818 1,137,218 1,039,511 39 NIPS Nipress Tbk 220,229 288,148 325,008 314,478 40 SMSM Selamat Sempurna Tbk 716,686 830,050 929,753 941,651 41 TURI Tunas Ridean Tbk 2,857,847 3,345,245 3,583,328 1,770,692 42 DVLA Darya-Varia Laboratoria Tbk 557,338 560,931 637,661 783,613 43 INAF Indofarma Tbk 686,937 1,009,438 965,812 728,035 44 KAEF Kimia Farma Tbk 1,261,225 1,386,739 1,445,670 1,562,625 45 SCPI Schering Plough Indonesia Tbk 98,874 128,565 199,526 206,257 46 TSPC Tempo Scan Pacific Tbk 2,479,251 2,773,135 2,967,057 3,263,103 47 TCID Mandom Indonesia Tbk 672,197 725,197 910,790 994,620 48 MRAT Mustika Ratu Tbk 291,769 315,998 354,781 365,636 L7

L8 Lampiran 3 Data Total Sales No. Kode Nama Perusahaan Total Sales (Million Rupiah) 2006 2007 2008 2009 1 AISA Tiga Pilar Sejahtera Food Tbk 333,455 499,870 489,172 533,194 2 CEKA Cahaya Kalbar Tbk 391,062 812,635 1,963,638 1,194,544 3 DLTA Delta Djakarta Tbk 396,733 439,823 673,770 740,681 4 FAST Fast Food Indonesia Tbk 1,276,416 1,589,643 2,022,633 2,454,360 5 MLBI Multi Bintang Indonesia Tbk 891,001 978,600 1,325,661 1,616,264 6 PTSP Pioneerindo Gourment 145,440 163,777 207,324 226,790 7 SIPD Sierad Produce Tbk 1,111,242 1,632,454 2,331,686 3,242,551 8 SMAR PT SMART Tbk 4,708,250 8,079,715 16,094,425 14,201,230 9 TBLA Tunas Baru Lampung Tbk 1,193,999 1,844,207 3,955,846 2,783,573 10 ULTJ Ultra Jaya Milk Tbk 835,230 1,126,800 1,362,607 1,613,928 11 RMBA Bentoel International Investama 2,996,514 4,586,007 5,940,801 6,081,726 12 HMSP HM Sampoerna Tbk 29,545,083 29,787,725 34,680,445 38,972,186 13 PBRX Pan Brothers Tex Tbk 1,426,609 1,623,451 1,758,095 1,593,602 14 RICY Ricky Putra Globalindo Tbk 417,810 425,584 490,783 507,955 15 FASW Fajar Surya Wisesa Tbk 1,693,081 2,655,795 3,027,012 2,733,300 16 TKIM Pabrik Kertas Tjiwi Kimia Tbk 8,633,893 10,877,859 14,878,798 11,075,344 17 SAIP Surabaya Agung Industry Pulp 438,659 673,176 653,101 452,652 18 SPMA Suparma Tbk 688,434 815,410 1,037,542 1,019,726 19 AKRA AKR Corporindo Tbk 3,970,323 5,894,751 9,472,529 8,959,842 20 BUDI Budi Acid Jaya Tbk 1,072,908 1,350,298 1,551,987 1,782,132 21 CLPI Colorpak Indonesia Tbk 291,816 382,264 504,661 447,956 22 LTLS Lautan Luas Tbk 2,413,259 2,712,536 4,458,094 3,746,865

23 TRST Trias Sentosa Tbk 1,207,058 1,496,541 1,810,920 1,571,511 24 ALMI Alumindo Light Metal Tbk 1,969,677 2,321,871 2,376,798 1,754,202 25 JPRS Jaya Pari Steel Tbk 340,210 432,808 732,703 302,868 26 LION Lion Metal Works Tbk 143,272 179,568 229,607 197,508 27 PICO Pelangi Indah Canindo Tbk 249,390 336,161 600,191 607,171 28 KDSI Kedawung Setia Industrial Tbk 173,900 922,557 1,078,023 959,834 29 ARNA Arwana Citra Mulia Tbk 344,868 506,980 647,126 714,062 30 KBLM Kabelindo Murni Tbk 285,472 319,611 539,697 301,331 31 SCCO SUCACO Tbk 1,483,069 2,281,702 2,127,032 1,510,071 32 IKBI Sumi Indo Kabel Tbk 1,914,345 1,590,455 1,645,326 862,112 33 VOKS Voksel Electric Tbk 919,537 1,358,648 2,267,484 1,729,113 34 ASGR Astra Graphia Tbk 619,039 725,581 1,027,738 1,335,237 35 MTDL Metrodata Electronics Tbk 1,636,282 2,712,987 3,422,200 3,396,917 36 GDYR Goodyear Indonesia Tbk 982,428 1,088,862 1,244,519 1,292,819 37 HEXA Hexindo Adiperkasa Tbk 1,395,736 1,825,358 2,792,930 2,158,005 38 INTA Intraco Penta Tbk 608,332 710,996 1,120,472 1,118,952 39 NIPS Nipress Tbk 260,153 405,749 480,458 279,929 40 SMSM Selamat Sempurna Tbk 881,116 1,064,055 1,353,586 1,374,652 41 TURI Tunas Ridean Tbk 3,874,394 4,412,018 5,541,965 4,890,203 42 DVLA Darya-Varia Laboratoria Tbk 576,669 509,498 577,599 869,171 43 INAF Indofarma Tbk 1,026,676 1,273,162 1,478,585 1,125,055 44 KAEF Kimia Farma Tbk 2,189,715 2,365,636 2,704,728 2,854,058 45 SCPI Schering Plough Indonesia Tbk 123,758 170,351 204,012 284,900 46 TSPC Tempo Scan Pacific Tbk 2,729,224 3,124,073 3,633,789 4,497,931 47 TCID Mandom Indonesia Tbk 951,630 1,018,334 1,239,775 1,388,725 48 MRAT Mustika Ratu Tbk 226,387 252,123 307,804 345,576 L9

L10 Lampiran 4 Data Leverage No. Kode Nama Perusahaan Leverage (X) 2006 2007 2008 2009 1 AISA Tiga Pilar Sejahtera Food Tbk 2.82 3.65 1.60 2.14 2 CEKA Cahaya Kalbar Tbk 0.44 1.80 1.45 0.89 3 DLTA Delta Djakarta Tbk 0.31 0.29 0.34 0.27 4 FAST Fast Food Indonesia Tbk 0.68 0.67 0.63 0.63 5 MLBI Multi Bintang Indonesia Tbk 2.08 2.14 1.73 8.44 6 PTSP Pioneerindo Gourment 832.63 64.47 15.28 4.07 7 SIPD Sierad Produce Tbk 0.13 0.29 0.34 0.39 8 SMAR PT SMART Tbk 1.06 1.29 1.17 1.13 9 TBLA Tunas Baru Lampung Tbk 1.37 1.62 2.15 1.80 10 ULTJ Ultra Jaya Milk Tbk 0.53 0.64 0.53 0.45 11 RMBA Bentoel International Investama 0.97 1.50 1.58 1.45 12 HMSP HM Sampoerna Tbk 1.21 0.94 1.00 0.69 13 PBRX Pan Brothers Tex Tbk 3.73 4.85 8.69 5.23 14 RICY Ricky Putra Globalindo Tbk 0.76 0.71 1.00 0.84 15 FASW Fajar Surya Wisesa Tbk 1.91 1.91 1.84 1.32 16 TKIM Pabrik Kertas Tjiwi Kimia Tbk 2.79 2.81 2.65 2.63 17 SAIP Surabaya Agung Industry Pulp -2.02-4.74-3.20-3.98 18 SPMA Suparma Tbk 2.08 1.22 1.36 1.08 19 AKRA AKR Corporindo Tbk 1.09 1.57 1.81 2.20 20 BUDI Budi Acid Jaya Tbk 2.90 1.31 1.70 1.10 21 CLPI Colorpak Indonesia Tbk 1.05 1.29 1.86 0.90 22 LTLS Lautan Luas Tbk 2.43 2.42 3.18 2.78

23 TRST Trias Sentosa Tbk 1.07 1.18 1.08 0.68 24 ALMI Alumindo Light Metal Tbk 1.74 2.07 2.76 2.21 25 JPRS Jaya Pari Steel Tbk 0.06 0.22 0.48 0.30 26 LION Lion Metal Works Tbk 0.25 0.27 0.26 0.19 27 PICO Pelangi Indah Canindo Tbk 3.70 2.28 2.90 2.32 28 KDSI Kedawung Setia Industrial Tbk 1.82 1.44 1.13 1.31 29 ARNA Arwana Citra Mulia Tbk 1.50 1.68 1.58 1.38 30 KBLM Kabelindo Murni Tbk 0.82 0.97 1.06 0.59 31 SCCO SUCACO Tbk 1.15 2.67 2.15 1.77 32 IKBI Sumi Indo Kabel Tbk 0.58 0.34 0.25 0.14 33 VOKS Voksel Electric Tbk 0.82 1.61 2.70 2.30 34 ASGR Astra Graphia Tbk 0.98 0.99 1.53 1.03 35 MTDL Metrodata Electronics Tbk 1.73 2.88 2.74 2.04 36 GDYR Goodyear Indonesia Tbk 0.62 0.94 2.45 1.71 37 HEXA Hexindo Adiperkasa Tbk 2.48 2.63 2.00 1.50 38 INTA Intraco Penta Tbk 1.68 1.70 2.46 1.91 39 NIPS Nipress Tbk 1.41 2.02 1.64 1.48 40 SMSM Selamat Sempurna Tbk 0.53 0.66 0.63 0.80 41 TURI Tunas Ridean Tbk 3.24 2.91 2.50 0.77 42 DVLA Darya-Varia Laboratoria Tbk 0.35 0.21 0.26 0.41 43 INAF Indofarma Tbk 1.45 2.46 2.26 1.44 44 KAEF Kimia Farma Tbk 0.45 0.53 0.53 0.57 45 SCPI Schering Plough Indonesia Tbk -68.98 70.47 22.90 9.49 46 TSPC Tempo Scan Pacific Tbk 0.23 0.26 0.29 0.34 47 TCID Mandom Indonesia Tbk 0.11 0.08 0.12 0.13 48 MRAT Mustika Ratu Tbk 0.10 0.13 0.17 0.16 L11

L12 Lampiran 5 Data Operating Profit Margin No. Kode Nama Perusahaan Operating Profit Margin (%) 2006 2007 2008 2009 1 AISA Tiga Pilar Sejahtera Food Tbk 8.18 11.18 23.1 19.78 2 CEKA Cahaya Kalbar Tbk 2.16 5.26 4.47 7.82 3 DLTA Delta Djakarta Tbk 13.03 13.78 14.85 21.69 4 FAST Fast Food Indonesia Tbk 7.04 8.47 6.96 9.17 5 MLBI Multi Bintang Indonesia Tbk 14.71 13.61 21.6 31.76 6 PTSP Pioneerindo Gourment -2.26 3.02 6.62 7.27 7 SIPD Sierad Produce Tbk 6.14 3 3.19 2.24 8 SMAR PT SMART Tbk 13.11 20.59 13.3 7.82 9 TBLA Tunas Baru Lampung Tbk 11.29 13.69 9.31 10.11 10 ULTJ Ultra Jaya Milk Tbk 7.91 6.54-4.92 7.87 11 RMBA Bentoel International Investama 5.56 7.49 6.9 4.37 12 HMSP HM Sampoerna Tbk 17.52 18.72 17.95 18.73 13 PBRX Pan Brothers Tex Tbk 1.4 3.05 3.35 2.83 14 RICY Ricky Putra Globalindo Tbk 15.19 14.98 5.61 1.55 15 FASW Fajar Surya Wisesa Tbk 7.86 15.58 12.86 15.53 16 TKIM Pabrik Kertas Tjiwi Kimia Tbk 1.52 3.6 6.32 10.21 17 SAIP Surabaya Agung Industry Pulp -28.69-13.17-16.96-10.98 18 SPMA Suparma Tbk 9.95 13.84 9.44 6.29 19 AKRA AKR Corporindo Tbk 5.07 6.67 6.54 6.03 20 BUDI Budi Acid Jaya Tbk 6.54 10.88 8.73 8.63 21 CLPI Colorpak Indonesia Tbk 5.14 4.79 7.06 10.18 22 LTLS Lautan Luas Tbk 3.65 6.94 11.69 3.66

23 TRST Trias Sentosa Tbk 3.79 5.42 7.99 10.35 24 ALMI Alumindo Light Metal Tbk 5.06 3.03 4.84 0.38 25 JPRS Jaya Pari Steel Tbk 11.68 12.82 13.42 6.7 26 LION Lion Metal Works Tbk 18.06 17 22.21 22.33 27 PICO Pelangi Indah Canindo Tbk 8.93 9.92 8.12 8.95 28 KDSI Kedawung Setia Industrial Tbk 2.39 3.62 3.37 3.4 29 ARNA Arwana Citra Mulia Tbk 17.79 18.87 17.71 17.66 30 KBLM Kabelindo Murni Tbk 9.11 4.23 1.46 2.8 31 SCCO SUCACO Tbk 5.3 3.72 3.06 1.86 32 IKBI Sumi Indo Kabel Tbk 4.45 7.28 9.03 9.69 33 VOKS Voksel Electric Tbk 4.23 7 6.2 4.77 34 ASGR Astra Graphia Tbk 12.4 13.1 10.31 8.45 35 MTDL Metrodata Electronics Tbk 3.23 4.09 7.44 3.77 36 GDYR Goodyear Indonesia Tbk 3.61 5.38 3.49 9.91 37 HEXA Hexindo Adiperkasa Tbk 4.17 7.48 14.43 12.92 38 INTA Intraco Penta Tbk 6.31 5.74 7.91 9.54 39 NIPS Nipress Tbk 7.09 6.84 6.75 2.59 40 SMSM Selamat Sempurna Tbk 13.1 14.1 15.73 13.81 41 TURI Tunas Ridean Tbk 1.4 4.29 4.7 2.42 42 DVLA Darya-Varia Laboratoria Tbk 13.62 13.28 13.53 13.73 43 INAF Indofarma Tbk 6.06 3.51 4.26 4.08 44 KAEF Kimia Farma Tbk 2.77 3.28 3.96 3.92 45 SCPI Schering Plough Indonesia Tbk 7.83 10.45 14.82 12.54 46 TSPC Tempo Scan Pacific Tbk 11.51 10.26 10 9.91 47 TCID Mandom Indonesia Tbk 14.59 14.89 14.14 13.32 48 MRAT Mustika Ratu Tbk 7.98 7.31 8.22 12.02 L13

L14 Lampiran 6 Data Return No. Kode Nama Perusahaan Return (%) 2007 2008 2009 2010 1 AISA Tiga Pilar Sejahtera Food Tbk 0-1.44 0-2.89 2 CEKA Cahaya Kalbar Tbk -8 5.63-6.66-8.33 3 DLTA Delta Djakarta Tbk 27.27 0 9.72 0.68 4 FAST Fast Food Indonesia Tbk 0-12.08 0 0 5 MLBI Multi Bintang Indonesia Tbk 0 0-0.75-0.6 6 PTSP Pioneerindo Gourment 0-6.25 0-1.81 7 SIPD Sierad Produce Tbk -5.88 0 0 0 8 SMAR PT SMART Tbk -1.36-13.75-8.48 0 9 TBLA Tunas Baru Lampung Tbk 3.17-4.34 0-2.22 10 ULTJ Ultra Jaya Milk Tbk -8.23 8.47-5.33 0 11 RMBA Bentoel International Investama 1.66-4.44 2.22 0 12 HMSP HM Sampoerna Tbk 0.76-1.88 2.85-0.71 13 PBRX Pan Brothers Tex Tbk 5.17 2 2.08 35.13 14 RICY Ricky Putra Globalindo Tbk 0 0 5.26 0 15 FASW Fajar Surya Wisesa Tbk -5.3 0 0 0 16 TKIM Pabrik Kertas Tjiwi Kimia Tbk -2.91-1.66 0 2.7 17 SAIP Surabaya Agung Industry Pulp -1.25 0 0-8.9 18 SPMA Suparma Tbk -2.08-2.32 5.4 0 19 AKRA AKR Corporindo Tbk 1.81-2.14 0-2.1 20 BUDI Budi Acid Jaya Tbk 0.54 0 0 4.34 21 CLPI Colorpak Indonesia Tbk 0 0.63 0-2 22 LTLS Lautan Luas Tbk 0 2.43 2.66-5.88

23 TRST Trias Sentosa Tbk 0-1.16 2.42 2.43 24 ALMI Alumindo Light Metal Tbk 9.3-8.19-4.16 3.63 25 JPRS Jaya Pari Steel Tbk 0-5.35 0-1.78 26 LION Lion Metal Works Tbk 0 1.09 10.41-5 27 PICO Pelangi Indah Canindo Tbk 15.78-2.22 11.11 14.81 28 KDSI Kedawung Setia Industrial Tbk 4.76-6.25 2.22 34.37 29 ARNA Arwana Citra Mulia Tbk 4.25-10.95 0 12.56 30 KBLM Kabelindo Murni Tbk 1.2 7.05 0 0 31 SCCO SUCACO Tbk 0 0.98 0 0 32 IKBI Sumi Indo Kabel Tbk 1.28-14.73 8.33 0 33 VOKS Voksel Electric Tbk 0 0 12 25 34 ASGR Astra Graphia Tbk 0-3.4 2-2.63 35 MTDL Metrodata Electronics Tbk 1.26-2.25 5.97 6.02 36 GDYR Goodyear Indonesia Tbk 4.37 0-9.09 5.78 37 HEXA Hexindo Adiperkasa Tbk 3.19-3.27 4.39-1.85 38 INTA Intraco Penta Tbk 3.15-33.33 5 0 39 NIPS Nipress Tbk -4.34 21 23.33 0 40 SMSM Selamat Sempurna Tbk 0 0 0-0.76 41 TURI Tunas Ridean Tbk 2.98 0-8.08-1.15 42 DVLA Darya-Varia Laboratoria Tbk 0.7 2.27 0 0 43 INAF Indofarma Tbk -0.64 27.05 0 0 44 KAEF Kimia Farma Tbk 2.39-7.02 2.52-0.76 45 SCPI Schering Plough Indonesia Tbk -1.09 0 42.85 18.18 46 TSPC Tempo Scan Pacific Tbk -3.48 0 0-2.66 47 TCID Mandom Indonesia Tbk 2.7 0 0 0 48 MRAT Mustika Ratu Tbk 3.63 2.38 1.7 0 L15

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