The Effect of Income Smoothing and Company Size on the Earnings Response (Market Reaction) of Food and Beverage Companies on the Indonesia Stock Exchange Surabaya

This research intends to understand the effect of (1) Profit Equalization on
Market Reaction in Food and Beverage companies listed on the Indonesia Stock
Exchange Surabaya in 2020-2023, (2) Company Size on Market Reaction in Food
and Beverage companies listed on the Indonesia Stock Exchange Surabaya in 2020-
2023, (3) Profit Equalization, and Company Size simultaneously (simultaneously)
on Market Reaction in Food and Beverage companies listed on the Indonesia Stock
Exchange in 2020-2023. The observation in this research is that there are 84 Food
and Beverage companies listed on the Indonesia Stock Exchange Surabaya in 2020-
2023. Sampling uses the purposive sampling method and samples are taken from 8
companies. The data accumulation technique is done through documentation
studies. The data elaboration method used multiple linear regression analysis with
Eviews 12. The data elaboration technique uses descriptive statistical analysis,
normality test, autocorrelation test, heteroscedasticity test, T-test, and F test.
Observation results show: (1) Profit Equalization has no effect on Market Reaction,
(2) Company Size has no influence on Market Reaction, (3) Profit Equalization and
Company Size simultaneously have no effect on Market Reaction.