ABSTRAK
Penelitian ini bertujuan untuk melihat relevansi nilai laba, nilai buku, dan investasi pada 81emiten Bursa Efek Indonesia tahun 2007-2012, dengan model Ohlson. Selain itu, dampakmasalah arus kas bebas juga dimasukkan ke dalam model sebagai dummy variabel untukmelihat dampaknya terhadap relevansi nilai tersebut. Hasil menunjukkan secara bersamasama,laba, nilai buku, dan investasi berpengaruh signifikan terhadap harga saham. Secaraparsial, laba, nilai buku, dan investasi secara signifikan mempengaruhi harga saham danberkorelasi positif. Indikasi masalah arus kas bebas menambah relevansi nilai laba dan nilaibuku terhadap harga saham, tetapi justru melemahkan relevansi nilai investasi terhadap hargasaham.

---

ABSTRACT
This study aimed to examine the value relevance of earnings, book value, and investments of81 issuers in Indonesia Stock Exchange from 2007-2012, using the model of Ohlson’s. Theimpact of free cash flow problems are also incorporated into the model as a dummy variableto see its impact on the value relevance. The results show, simultaneously, earnings, bookvalue, and investments have a significant effect on stock prices. Partially, earnings, bookvalue, and investments significantly affect the stock prices and positively correlated.Indications of free cash flow problems add the value relevance of earnings and book value onstock prices, but it weakens the value relevance of the investments on the stock prices.