PENGARUH NILAI TAMBAH EKONOMI DAN RASIO KEUANGAN TERHADAP MARKET VALUE-ADDED PADA PERUSAHAAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX PERIODE 2014-2018

ABSTRAKTujuan dalam penelitian ini yaitu untuk menganalisis nilai tambah yaitu EVA dan rasio keuangan yaitu EPS, ROE dan DER terhadap Market value added pada perusahaan yang terindeks JII selama periode 2014-2018. Metode analisis dalam penelitian ini yaitu regresi data panel dan sampel sejumlah 15 perusahaan. Sumber data berasal dari laporan keuangan perusahaan dan BEI. Hasil penelitian ini menunjukkan bahwa EVA, EPS, ROE dan DER secara simultan berpengaruh signifikan terhadap MVA. Dimana secara parsial EVA dan ROE berpengaruh secara signifikan terhadap MVA. Sedangkan DER dan EPS tidak berpengaruh terhadap MVA. Maka bagi para investor diharapkan untuk mempertimbangkan nilat tambah perusahaan dan melihat rasio keuangan perusahaan dalam memilih investasi.Kata Kunci: Market value added, metode nilai tambah ekonomi, rasio profitabilitas, rasio nilai pasar, rasio solvabilitas ABSTRACTThe purpose of this study is to analyze the added value of EVA and financial ratios namely EPS, ROE and DER oN MVA in companies indexed by the JII during the 2014-2018 period. The method of analysis in this study is panel data regression and a sample of 15 companies. The Source of data comes from the company’s financial statements as well as IDX. The results of this study indicate that EVA, EPS, ROE and DER simultaneously have a significant effect on MVA. Where partially EVA and ROE significantly influence the MVA. While DER and EPS did not affect the MVA in this study. So investors are expected to consider the value-added of the company and see the company’s financial ratios in choosing investments.Keywords: Market value-added, Economic value-added methods, profitability ratio, market value ratio, solvency ratio

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Pengaruh return on equity, earnings per share, economic value added, dan market value added terhadap return saham perusahaan sektor pertanian yang terdaftar di bursa efek indonesia periode 2010-2016

Jurnal Ekonomi ◽

10.24912/je.v23i1.334 ◽

2018 ◽

Vol 23 (1) ◽

Author(s):

Nastasya Cindy Hidajat

Keyword(s):

Stock Return ◽

Stock Exchange ◽

Economic Value ◽

Value Added ◽

Market Value ◽

Economic Value Added ◽

Return On Equity ◽

Panel Data Regression ◽

Data Regression ◽

Market Value Added

The purpose of this research was to test the effect of return on equity, earning per share, economic value added, and market value added to stock return of agriculture firm that listed at Indonesian Stock Exchange in the period of 2010-2016 either partially or simultaneously. This research used 77 samples. The method used is panel data regression analysis using EViews 6. The results showed that return on equity, earning per share economic value added, and market value added partially has positive significant influence on the stock return, and return on equity, earning per share, economic value added, and market value added simultaneously affect the stock return.

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Implementation of Economic Value Added and Market Value Added Analysis as Valuation Tools of Invest Feasibility

Sinergi Jurnal Ilmiah Ilmu Manajemen ◽

10.25139/sng.v7i2.360 ◽

2017 ◽

Vol 7 (2) ◽

Author(s):

Achmad Daengs GS ◽

Moch Rizaldy Rahmansyah

Keyword(s):

Economic Value ◽

Value Added ◽

Market Value ◽

Financial Statements ◽

Financial Statement ◽

Financial Ratios ◽

Economic Value Added ◽

Financial Statement Analysis ◽

Market Value Added ◽

Valuation Tools

For the investors, financial statement is a benchmark of investors in assessing the company's performance. In fact, investors are not always receiving the accurate company's financial statements information and its levels of fairness are in doubt. The financial statement analysis with using financial ratios is not enough. The investors may need to use alternatives financial statement analyses techniques that reflect the actual company's performance. Therefore, both of the investors and the prospective can use Economic Value Added (EVA) and Market Value Added (MVA) analysis. With these technical analyses, the investors may know the company's performance where they are invested or to be used as a place to invest whether it has value added or not. With the results of these analyses, it is the expected for the investors to be more confident in making decision whether to buy, sell or hold the ownership in the company.

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Kinerja Keuangan Bank Umum Syariah Di Indonesia Dengan Pendekatan Metode Market Value Added (MVA)

JURNAL ILMIAH EKONOMI ISLAM ◽

10.29040/jiei.v4i03.338 ◽

2018 ◽

Vol 4 (03) ◽

pp. 206

Author(s):

Yudi Siyamto ◽

Sumadi Sumadi

Keyword(s):

Financial Performance ◽

Economic Value ◽

Good Condition ◽

Value Added ◽

Market Value ◽

Financial Statements ◽

Added Value ◽

Financial Reports ◽

Average Value ◽

Market Value Added

This study aims to determine the financial performance of the 2014-2016 Market Value Added (MVA) method in Islamic commercial banks in Indonesia. The sample determination technique used in this study is to use the type of purposive sampling, namely the criteria of having financial reports published and audited in the period 2014 to 2016 and complete financial statements from the period 2014 to 2016 with calculations using the MVA method (Market Value Added. The results show that the financial performance of BUS in this period has a positive average value using EVA and MVA. This situation shows that the positive EVA and MVA values are in good condition and have more economic added value after the company pays all obligations to the funders or creditors according to their expectations, so that the company's profits provide economic value for the company.

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(Setahun) Bali United IPO: Analisis Economic Value Added (EVA) dan Market Value Added (MVA)

MBIA ◽

10.33557/mbia.v19i3.1138 ◽

2020 ◽

Vol 19 (3) ◽

pp. 309-319

Author(s):

Yeni Widyanti ◽

Ryan Al Rachmat ◽

Eka Sevtia Mesta

Keyword(s):

Stock Exchange ◽

Economic Value ◽

Value Added ◽

Market Value ◽

Added Value ◽

Economic Value Added ◽

Financial Reports ◽

Football Club ◽

First Semester ◽

Market Value Added

This study aims to analyze the financial performance of the Bali United Football Club, which is the first football club in Indonesia to be listed on the Indonesia Stock Exchange (IDX) in 2019. The sample used in this study is PT Bali Bintang Sejahtera Tbk which is a company that manages Bali United football club. The type of data used is quantitative data obtained from the IDX website and the club consisting of financial reports 2019. The analysis technique is carried out with a quantitative descriptive method using the Economic Value Added (EVA) and Market Value Added (MVA) methods. The results of the analysis show that 2018 - 2019 has not been able to create added economic value for the company. This is indicated by the negative EVA value for two consecutive years. Whereas in 2020, which can be seen from the semester report per June 2020, the company's EVA value shows positive results, this is a good step for the company considering that the financial statements in the first semester of the company were able to produce a fairly high NOPAT, this also had an influence on the EVA value which positive which means the company has been able to create added value for the company. Abstrak Penelitian ini bertujuan untuk menganalisis kinerja keuangan Klub Sepak Bola Bali United yang merupakan klub sepak bola pertama di Indonesia yang listing di Bursa Efek Indonesia (BEI) pada tahun 2019. Sampel yang digunakan dalam penelitian ini adalah PT Bali Bintang Sejahtera Tbk yang merupakan induk perusahaan yang mengelola klub Bali United. Jenis data yang digunakan adalah data kuantitatif yang diperolah dari situs BEI dan klub yaitu laporan keungan tahun 2019. Tekknik analisis dilakukan dengan metode deskriptif kuantitatif yakni menggunakan metode Evonomic Value Added (EVA) dan Market Value Added (MVA). Hasil analisis menunjukkan tahun 2018 – 2019 belum bisa menciptakan nilai tambah ekonomi bagi perusahaan. Hal ini ditunjukkan dengan nilai EVA yang negatif selamat dua tahun berturut-turut. Sedangkan pada tahun 2020 yang bisa dilihat dari laporan semester per Juni 2020 nilai EVA perusahaan menunjukkan hasil yang positif hal ini merupakan langkah yang baik bagi perusahaan mengingat laporan keuangan pada semester pertama perusahaan mampu menghasilkan NOPAT yang cukup tinggi hal ini juga membawa pengaruh terhadap nilai EVA yang positif yang berarti perusahaan telah mampu menciptakan nilai tambah bagi perusahaan. Kata kunci: Kinerja Keuangan, EVA, MVA

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Evaluasi Economic Value Added (EVA), Financial Value Added (FVA) dan Market Value Added (MVA) dengan Time Series Approach Sebagai Alat Penilaian Kinerja Keuangan. ( Pada PT. Garuda Indonesia Tbk Periode 2015-2019)

MANAJERIAL ◽

10.30587/manajerial.v8i03.2717 ◽

2021 ◽

Vol 8 (03) ◽

pp. 294

Author(s):

Diyanti Rifal Agustin ◽

Ni Nyoman Putu Martini ◽

Tatit Diansari Riskiputri

Keyword(s):

Time Series ◽

Financial Performance ◽

Economic Value ◽

Value Added ◽

Market Value ◽

Added Value ◽

Economic Value Added ◽

Literature Study ◽

Time Series Approach ◽

Market Value Added

Background – Financial performance is a company's work performance that has been achieved in a certain period and can be seen in the financial statements of the company concerned. Financial statement analysis using conventional methods is often used by companies to measure their financial performance, namely financial ratio analysis. PT Garuda Indonesia Tbk, must have the option to create value added or large profits and create or add value to the capital that has been donated to meet the assumptions for financial backers (financial backers or investors). Purpose – Measure financial performance with Economic Value Added (EVA), Financial Value Added (FVA) and Market Value Added (MVA). Design/ Methodology/ Approach – This is a descriptive research with a quantitative approach. Sources of data in this study using external secondary data sources obtained through literature study which is arranged in the form of documents in the form of financial reports. The analysis technique in this study uses Time Series Analysis. Results and Discussion - EVA measurement with a time series approach from 2015-2019 the average EVA is -25,291,800.85, this indicates that the company has not been able to provide added value to shareholders because EVA is negative (EVA<0) so it is said to perform Not Good. Measurement of FVA with a time series approach from 2015-2019 the average FVA is 21,359,193.35, this indicates that the company is able to provide added financial value for companies and investors because the FVA value is Positive (FVA> 0) so it is said to be performing well . MVA measurement with a time series approach from 2015-2019 the average MVA is 9,019.927,024,116, this indicates that the company is able to provide added value because the MVA value is Positive (MVA> 0) so it is said to be performing well. Conclusion – EVA, FVA, and MVA values in 2015 were positive, in 2016 EVA and FVA were negative while MVA was positive, in 2017 EVA was negative while FVA and MVA were positive, in 2018 EVA was negative, FVA and MVA were positive, in 2018 2019 EVA, FVA, and MVA are positive. Research Implications - The research results in this study can be considered by the management of PT Garuda Indonesia in assessing and evaluating the company's financial performance.

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Pengaruh Rasio Keuangan, Economic Value Added, Dan Market Value Added Terhadap Harga Saham Perusahaan Terindeks Pefindo 25

Kajian Bisnis STIE Widya Wiwaha ◽

10.32477/jkb.v26i1.263 ◽

2018 ◽

Vol 26 (1) ◽

pp. 29-47

Author(s):

Dheni Indra Kusuma

Keyword(s):

Stock Prices ◽

Stock Exchange ◽

Small And Medium Enterprises ◽

Economic Value ◽

Market Price ◽

Value Added ◽

Market Value ◽

Financial Ratios ◽

Economic Value Added ◽

Market Value Added

The capital market has been progressing very rapidly. The annual financial statements of companies listed on the Indonesia Stock Exchange have become one of the investor analysis tools to take a business action. The decision of the investor will affect the value of the company reflected through the stock market price of the company. Financial ratios are still trusted by investors as the basis for analysis in decision making. Methods of Economic Value Added, and Market Value Added emerged as an alternative complement information for investors to analyze and make decisions.This study aims to examine the influence of financial ratios, Economic Value Added, and Market Value Added on stock prices. The sample to be observed are companies that are included in the index PEFINDO 25. The growing of beginner investors and Small and Medium Enterprises that entered the Indonesia Stock Exchange became the basis of interest researchers to conduct this research. Hypothesis testing was performed by using crosssectional regression for each year observation from 2010-2015 and all pooled regression years. This study uses observational company data selected by purposive sampling year 2010-2015 from all companies listed in Indonesia Stock Exchange included in index PEFINDO 25. The results shows that variables of DER, PER, EVA, and MVA affects in the companies. Keywords: Financial Ratios, Economic Value Added, Market Value Added

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Economic Value Added and Profitability on Created Shareholders Value in Manufacturing Sectors

SHS Web of Conferences ◽

10.1051/shsconf/20207601051 ◽

2020 ◽

Vol 76 ◽

pp. 01051

Author(s):

Sautma Ronni Basana ◽

Ricky Julio ◽

Christina Soehono

Keyword(s):

Stock Exchange ◽

Economic Value ◽

Value Added ◽

Market Value ◽

Economic Value Added ◽

Manufacturing Companies ◽

Panel Data Regression ◽

Value Added Model ◽

Market Value Added ◽

Year 2013

This study aimed to investigate the effect of economic value added and profitability on created shareholders value Fernandez model and market value added model in manufacturing companies listed on the Indonesia Stock Exchange period year 2013 to 2018. The samples are fifty Manufacturing companies enterprises listed on the IDX period year 2013 to 2018. Methods of data analysis were performed using panel data regression with pooled OLS model. The results of this analysis showed profitability has a significant effect on created shareholders value Fernandez model and market value-added model in manufacturing companies listed on the IDX period 2013 to 2018.

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Economic Value Added Dan Market Value Added Serta Perilaku Harga Saham Perusahaan Yang Listing Di Jakarta Islamic Index (Periode 2010-2014)

Jurnal Ekonomi Syariah Teori dan Terapan ◽

10.20473/vol3iss20166pp444-459 ◽

2017 ◽

Vol 3 (6) ◽

pp. 444

Author(s):

Khairuriza Khairuriza ◽

Leo Herlambang

Keyword(s):

Stock Price ◽

Linear Regression Analysis ◽

Economic Value ◽

Value Added ◽

Secondary Data ◽

Market Value ◽

Multiple Linear Regression Analysis ◽

Added Value ◽

Economic Value Added ◽

Market Value Added

Stern Stewart & Co. introduced new methods of measuring financial performance based on the added value produced by the company, these methods being Economic Value Added (EVA) and Market Value Added (MVA). The purpose of this research is to analyze the effect of EVA and MVA toward the stock price of companies listed in Jakarta Islamic Index (JII) for the year period 2010-2014.The data used in this research are secondary data comprising of yearly data for the period 2010-2014. The analysis employed in this research is through using multiple linear regression analysis with α of 0.05.The research suggest that EVA and MVA partially and simultaneously have significance effect towards the stock price of the company enlisted in JII. With α of 0.162 or 16.2%, this shows that 16, 2% of stock price in JII is affected by EVA and MVA, whereas 83, 8% is affected by other variables.

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Analisis Kinerja Keuangan Perusahaan Dengan Menggunakan Metode Economic Value Added (EVA) Dan Market Value Added (MVA) Pada Perusahaan Rokok Yang Terdaftar Di BEI Tahun 2012-2016

JIMEK : Jurnal Ilmiah Mahasiswa Ekonomi ◽

10.30737/jimek.v1i1.282 ◽

2019 ◽

Vol 1 (1) ◽

Author(s):

Ina Riawati ◽

Kartika Yuliari ◽

Dwi Joewarni

Keyword(s):

Stock Exchange ◽

Economic Value ◽

Value Added ◽

Secondary Data ◽

Market Value ◽

Added Value ◽

Economic Value Added ◽

Share Prices ◽

Descriptive Research ◽

Market Value Added

This study aims to measure and analyze financial performance using the method of Economic Value Added (EVA) and Market Value Added (MVA) in cigarette companies namely PT HM Sampoerna Tbk, PT Gudang Garam Tbk and PT Wismilak Inti Makmur Tbk. This type of research is descriptive research with a quantitative approach. This study uses secondary data in the form of financial statements of PT HM Sampoerna Tbk, PT Gudang Garam Tbk and PT Wismilak Inti Makmur Tbk for the period 2012-2016 which are published on the Indonesia Stock Exchange and share prices on Okesaham. The research results of cigarette companies that are sampled generally show positive EVA and MVA values, meaning that these companies have been able to create added value or the resulting profits have been able to meet expectations for the company's shareholders (investors) and are able to create or increase capital values has been invested by funders. Except for MVA calculations at PT. Wismilak Inti Makmur Tbk., Although in the years 20012 - 2014 had a positive MVA value, but in 2015-1016 the company suffered a loss and had a negative MVA value. Penelitian ini bertujuan mengukur dan menganalisis kinerja keuangan dengan menggunakan metode Economic Value Added (EVA) dan Market Value Added (MVA) pada perusahaan rokok yakni PT HM Sampoerna Tbk, PT Gudang Garam Tbk dan PT Wismilak Inti Makmur Tbk. “Jenis penelitian ini adalah penelitian deskriptif dengan pendekatan kuantitatif. Penelitian ini menggunakan data sekunder berupa laporan keuangan PT HM Sampoerna Tbk, PT Gudang Garam Tbk dan PT Wismilak Inti Makmur Tbk periode 2012-2016 yang terpublikasi di Bursa Efek Indonesia” serta harga-harga saham pada Okesaham. “Hasil penelitian perusahaan rokok yang dijadikan sampel pada umumnya menunjukan nilai EVA dan MVA yang positif, artinya perusahaan – perusahaan tersebut telah mampu menciptakan nilai tambah atau laba yang dihasilkan telah mampu memenuhi harapan bagi pemegang saham perusahaan (investor) dan mampu menciptakan atau meningkatkan nilai modal yang telah diinvestasikan oleh penyandang dana”. Kecuali untuk perhitungan MVA pada PT. Wismilak Inti Makmur Tbk., meskipun pada tahun 20012 – 2014 memiliki nilai MVA yang positif, tetapi pada tahun 2015-1016 perusahaan tersebut mengalami kerugian dan memiliki nilai MVA yang negatif.

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Decisions for Stock Investment among University Students

SHS Web of Conferences ◽

10.1051/shsconf/20207601005 ◽

2020 ◽

Vol 76 ◽

pp. 01005

Author(s):

Dewi Pertiwi ◽

Sautma Ronni Basana ◽

Marcella Grace Yasinta

Keyword(s):

Stock Exchange ◽

Economic Value ◽

Value Added ◽

Market Value ◽

Manufacturing Companies ◽

Stock Investment ◽

Panel Data Regression ◽

Value Added Model ◽

Market Value Added ◽

Year 2013

This study aimed to investigate the effect of economic value added and profitability on created shareholders value Fernandez model and market value added model in manufacturing companies listed on the Indonesia Stock Exchange period year 2013 to 2018. The samples are fifty Manufacturing companies enterprises listed on the IDX period year 2013 to 2018. Methods of data analysis was performed using panel data regression with pooled OLS model. The results of this analysis showed profitability have a significant effect on created shareholders value Fernandez model and market value added model in manufacturing companies listed on the IDX period 2013 to 2018.

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