scholarly journals Gender and Ethnic Diversity, and Economic Value Added: Evidence from Government-Linked Companies

2021 ◽  
Vol 6 (2) ◽  
pp. 113
Author(s):  
Michele Merara ◽  
Jennifer Tunga Janang ◽  
Imbarine Bujang
Keyword(s):  
Firm Size ◽  
Ethnic Diversity ◽  
Economic Value ◽  
Value Added ◽  
Secondary Data ◽  
Business Environment ◽  
Economic Value Added ◽  
Board Diversity ◽  
Units Of Analysis ◽  
Code Of Corporate Governance

Board diversity was further emphasized in the revised Malaysian Code of Corporate Governance (MCCG) 2017, as this can allow for more board effectiveness in constructive debates and better decisions. With this recommended deliverable, the code believes that companies should perform and will be more equipped to face the ever-changing business environment and challenges. This study examines the influence of boardroom diversity on corporate performance using Government-Linked Companies (GLCs) in Malaysia as units of analysis. The study used secondary data of publicly listed GLCs in Malaysia for seven years (2012 to 2018). We used gender and ethnicity to proxy for boardroom diversity while economic value added (EVA) represents the company’s performance. We also used panel data multiple regression to analyze the data. After controlling for firm size and firm age, the empirical results revealed that board ethnicity is negatively and significantly related to firms’ economic performance. Board gender, however, provides insignificant results. We also find the firm size to be significant and positively related to EVA. This preliminary result on board composition requires further research on how Malaysian GLCs can address the MCCG’s recommended governance compliance, particularly on the monitoring roles of the board on firm performance.

scholarly journals Dividend Policy, Economic Value Added, Market β, Firm Size and Stock Return

2020 ◽  
Vol 9 (3) ◽  
pp. 53
Author(s):  
Dwi Asih Surjandari ◽  
Lela Nurlaela Wati
Keyword(s):  
Firm Size ◽  
Stock Return ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Secondary Data ◽  
Economic Value Added ◽  
Negative Effects ◽  
Blue Chip

This study aims to analyze the Effect of Dividend Policy, Economic Value Added (EVA), Market β and Firm Size on Stock Return and the existence of Firm Size in moderating these effects of blue-chip stock category listed in Indonesia Stock Exchange (IDX) during 2015 up to 2019 period. This study is a confirmatory research involving secondary data collected from annual report available at IDX website. The sample used is purposive sampling and research object is Dividend Policy, EVA, Market β and Firm Size as independent variables and Stock Return as dependent variable, and Firm Size as moderates variable. The analysis is performed using E-views 11.0 version. The result shows that Dividend Policy has significant negative effects while EVA and Market β has no effect on Stock Return. In addition, Firm Size moderates the relation between Dividend Policy and Stock Return, while having no moderating effect to the relation between EVA, Market β and Stock Return. The findings of this research imply that, for high stock performance like blue-chip stock, Dividend Policy affects the Stock Return and Firm Size moderates this effect.

How to Evaluate the Economic Value Added of Innovative Interface Technologies in a Booming Cyber Commerce Environment

2011 ◽  
Vol 467-469 ◽  
pp. 1006-1011
Author(s):  
Ming Yuan Hsieh ◽  
Chung Hsing Huang ◽  
Wen Ming Wu
Keyword(s):  
Factor Analysis ◽  
Customer Service ◽  
Economic Value ◽  
Value Added ◽  
Business Environment ◽  
Economic Value Added ◽  
Social Community ◽  
Priority Vector ◽  
Network Process ◽  
Four Levels

Beginning in the 21st century, e-business enterprises need to take vigorous tactics in facing greater challenges in a booming cyber commerce era. In today’s e-business environment, innovative interface technologies change with each passing day, customers’ (users’) satisfaction are more and more discerning, and market demands can fluctuate unpredictably. While facing constant changes in the lower-profit and high customer-service cyber commerce environment, it is important to know how to break through the current Information Technology (IT) industrial situation, maintain the enterprises’ owned advantage and continuously make a profit under a booming transition. In this research, nineteen sub-criteria are categorized into five factors (criteria) by the measurement of factor analysis. Three basic types of innovative business websites (portals, cyber commerce and social community) in an e-business environment are then evaluated by nineteen assessable criteria of five characteristics of innovation interface technology through the use of the Analytical Network Process (ANP) approach. The specific feature of the ANP model is to establish a pairwise comparative matrix and furthermore, to calculate the priority vector weights (eigenvector) of each assessable characteristic, criteria and sub-criteria. The factor analysis can utilize more measure matrix to benefit the deviation of ANP approach due to less data from expert’s opinions. Additionally, in the content, the analytical hierarchical relations are definitely expressed in four levels among each characteristic of innovative interface technology (IIT), criterion and sub-criteria. Moreover, based on the empirical analysis, the enterprises are able to choose the best potential business website with highest economic value added (EVA) through this research in order to maximize financial profits and benefits from an innovative perspective. Finally, some suggestions for managers and researchers are inductively formed to further determine the best development of innovative interface technologies in a thriving cyber commerce environment.

scholarly journals Financial Ratios, Economic Value Added and Market Reaction: A Quantitative Study on Indonesia Stock Exchange

2020 ◽  
Vol 7 (2) ◽  
pp. 82-91
Author(s):  
Indrawan Azis ◽  
Dara Ayu Nianty ◽  
Andi Marlinah
Keyword(s):  
Market Reaction ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Secondary Data ◽  
Partial Least Square ◽  
Least Square ◽  
Economic Value Added ◽  
Manufacturing Companies ◽  
Market Reactions

Reflecting on the phenomenon of stock market movements on the Indonesia Stock Exchange, this study was appointed to examine the effect of the effect of liquidity, solvency, and Economic Value Added (EVA) on market reactions in manufacturing companies listed on the IDX. The research method uses a quantitative approach, and types are categorized in explanatory research. The population in this study is manufacturing companies listed on the Indonesia Stock Exchange in the period 2017-2019. Determination of the sample to be tested in this study using a purposive sampling method and obtained 36 companies. Secondary data were obtained from the Capital Market Information Center (PIPM) the Indonesia Stock Exchange (IDX). The analytical method is Partial Least Square (PLS) with the assistant of SmartPLS 3.0 software. The results of the study showed that all exogenous variables positively and significantly influenced endogenous variable (EVA and Market Reaction). Research findings enrich previous studies on understanding market reactions and their impact on the development of corporate financial strategies in Indonesia.

scholarly journals ANALISIS PERBANDINGAN ANTARA RASIO KEUANGAN DAN METODE ECONOMIC VALUE ADDED SEBAGAI PENGUKUR KINERJA KEUANGAN PERUSAHAAN (STUDI KASUS PADA PERUSAHAAN ROKOK YANG TERDAFTAR DI BEI PERIODE TAHUN 2012 -2014

2016 ◽  
Vol 1 (01) ◽  
Author(s):  
Any Arisanti ◽  
IBK Bayangkara
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Secondary Data ◽  
Financial Ratios ◽  
Economic Value Added ◽  
New Approach ◽  
Financial Situation ◽  
The Past

This study aimed to describe and compare the company's financial performance as measured by the method of Economic Value Added (EVA) is a new approach which assesses the company's financial performance by taking into account the expectations of donors, particularly shareholders and creditors. Financial Ratios and analysis to assess the company's financial situation in the past, present and future. The research object is a cigarette company listed on the Stock Exchange in the period 2012 - 2014, that are PT. Gudang Garam Tbk, PT. HM Sampoerna Tbk, PT. Bentoel Internasional Investama Tbk, and PT. Wismilak Inti Makmur, Tbk. This type of research is comparative descriptive, while the data used is secondary data obtained from the Indonesia Stock Exchange. The Results of financial ratios calculation fluctuated every company each year. In the EVA calculation are the average of 2012 - 2014, PT. HM Sampoerna Tbk has the highest EVA value, then PT. Gudang Garam Tbk, hereinafter PT. Bentoel Internasional Investama Tbk and last PT. Wismilak Inti Makmur, Tbk. EVA is always positive (EVA> 0) in 2012-2014 means that the management company is able to create economic value for shareholders, and of course the company's financial performance is also good.Keywords: financial performance, financial ratios, EVA

scholarly journals ANALISIS VALUASI SAHAM BUMN MENGGUNAKAN METODE DIVIDEND DISCOUNTED MODEL DAN ECONOMIC VALUE ADDED

2021 ◽  
Vol 17 (2) ◽  
pp. 115-128
Author(s):  
Irvan Liunardi Senjaya
Keyword(s):  
Intrinsic Value ◽  
Economic Value ◽  
Value Added ◽  
Secondary Data ◽  
Financial Statements ◽  
Financial Statement ◽  
Economic Value Added ◽  
Financial Statement Analysis ◽  
Book Value ◽  
Value Added Model

This research is aimed at analyzing the valuation of BUMN shares with the dividend discounted model and economic value added model. This study is also aimed to teach early or novice investors about financial statement analysis, which contains information about companies' finances and companies' actions in the following years. Financial statement analysis is not limited to the Price-to-Earnings Ratio (P/E Ratio) and Price-to-Book Value (PBV). There are various analyses that can be used, such as the dividend discounted model aiming to find the company's intrinsic value and economic value added aiming to find economic value that will benefit investors. For this research, the researchers need 12 state-owned-enterprises (SOEs) to be used as samples and secondary data. The data used for this research are financial statements (2015-2019 period) and dividends per share (2015-2019 period). The data used were obtained before the event of CoVID-19. The results show that from the dividend discounted model and economic value added, 7 out of 12 SOEs are undervalued and have economic value for investors.             

scholarly journals PENGARUH FIRM SIZE, LEVERAGE DAN PROFITABILITY TERHADAP ECONOMIC VALUE ADDED (EVA) PADA EMITEN MANUFAKTUR DI BURSA EFEK INDONESIA

2019 ◽  
Vol 7 (2) ◽  
pp. 33-46
Author(s):  
Maharani Rahma
Keyword(s):  
Panel Data ◽  
Firm Size ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Generalized Least Squares ◽  
Total Asset ◽  
Economic Value Added ◽  
Return On Equity ◽  
Independent Variables

The purpose of this research is to analyze the effect of the Firm Size, Leverage and Profitability Tto Economic Value Added on emiten manufactur in Indonesia Stock Exchange. The selected independent variables in this study are Total Asset, Debt to Equity Ratio (DER) and Return on Equity (ROE) and the dependent varable is Economic Value Added (EVA). This research was conducted on manufactur listed issuers in Indonesia Stock Exchange in 2010-2014 period. Research carried out by using 59 sampels based on stratefied random sampling method. Panel Data Regression Models with Generalized Least Squares (GLS) method is used to data analysis and hipothesis testing. The results of this research and hypothesis testing indicate that: (1) Partially,Total Assets,ROE have a possitively relationships with significantly affect to the EVA and DER have a possitvely relationships with not significantly affect to the EVA.(2) Total Asset, DER and Profitability simultaneously have possitively relationship with  significantly affect to the EVA. (3) model in this study showed a weak pattern relationships between the dependent variable with the independent variables. Keywords : Firm Size, Leverage, Profitability, Economic Value Added, panel data

scholarly journals Application of EVA concept in business "SBB" limited liability company Belgrade

2020 ◽  
Vol 8 (2) ◽  
pp. 70-77
Author(s):  
Dragana Bešlić-Obradović ◽  
Ivana Bešlić-Rupić
Keyword(s):  
Economic Value ◽  
Limited Liability ◽  
Value Added ◽  
Business Environment ◽  
Company Performance ◽  
Economic Value Added ◽  
Limited Liability Company ◽  
Total Cost ◽  
New Concepts ◽  
A Company

The contemporary business environment has imposed the need to continuously find and define new concepts and tools that support the strategic management of a company. Among them, Economic Value Added - EVA is considered as the essential principle for the evaluation of company performance in terms of shareholder return. EVA is taxable profit less the total cost of capital (borrowed and owned). The contribution of the EVA concept is reflected by looking at economic rather than accounting profits. This concept was adopted by many companies in Serbia, among which is also "SBB" limited liability company - Belgrade.

scholarly journals ANALISIS KINERJA KEUANGAN BERDASARKAN ECONOMIC VALUE ADDED (EVA) DAN FINANCIAL VALUE ADDED (FVA) (STUDI KASUS PADA PT. NIPPON INDOSARI CORPINDO TBK. TAHUN 2014-2018)

2020 ◽  
Vol 7 (2) ◽  
pp. 103
Author(s):  
Nangsi Mohamad ◽  
Lanto Miriatin Amali ◽  
Meriyana Franssisca Dungga
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Secondary Data ◽  
Research Data ◽  
State University ◽  
Economic Value Added ◽  
Average Value ◽  
Quantitative Descriptive

Analysis of Financial Performance based on Economic Value Added (EVA) and Financial Value Added (FVA) (Case Study at PT. Nippon Indosari Corpindo Tbk in 2014-2018). Bachelor’s Degree Program in Management, Faculty of Economics, State University of Gorontalo. The principal sepervisior is Lanto Miriatin Amali, S. Sos., M.Si., and the co-supervisor is Meriyana Frsansissca Dungga, SE, MM. The research objective was to find out the financial performance of company based on analysis Economic Value Added (EVA) and Financial Value Added (FVA) from 2014 to 2018 at PT. Nippon Indosari Corpindo Tbk. The research data were obtained through financial statement in Indonesia Stock Exchange in form of company’s annual statement. The research data were secondary data. The research method used quantitative descriptive. The research sample focused on PT. Nippon Indosari Corpindo Tbk at Indonesia Stock Exchange (IDX). The research finding indicated that the result of calculation from economic value added (EVA) and Financial Value Added (FVA) at PT. Nippon Indosari Corindo Tbk listed in Indonesia Stock Exchange (IDX) fluctuated or limit of economic value added and limit of financial value added were dynamic expriencing movement although the condition of value was dynamic (up-down). Yet the average value of both was > 0 (positive) so that it was assumed to have been able to create economic value added and financial value added.

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

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.

scholarly journals AnalisisKinerja Keuangan Perusahaan Sektor Pertambangan yang Terdaftar di Jakarta Islamic Index dengan Menggunakan Economic Value Added

2019 ◽  
Vol 7 (2) ◽  
pp. 1493
Author(s):  
Halkadri Fitra ◽  
Henri Agustin ◽  
Salma Taqwa ◽  
Erly Mulyani
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Economic Value ◽  
Weighted Average ◽  
Value Added ◽  
Secondary Data ◽  
Added Value ◽  
Economic Value Added ◽  
Mining Sector ◽  
Capital Costs

This study aims to determine the financial performance of mining sector companies listed on the Jakarta Islamic Index based on EVA (Economic Value Added) analysis. The research conducted is a descriptive study with a quantitative approach using secondary data from 2014 to 2018 obtained from the Indonesia Stock Exchange and companies that are the object of research. The study population is all mining sector companies listed on the Jakarta Islamic Index while the sample uses a purposive sampling method with the sample taken is the mining sector companies listed on the Jakarta Islamic Index in the June-November 2019 period. Data analysis starts from the calculation of net operating profit after taxes, weighted average capital costs, invested capital, costs of capital and finally calculating EVA values from 2014 to 2018. The results show that the financial performance of mining companies listed on the Jakarta Islamic Index is well indicated by positive EVA values so it can be concluded that the management of the company has been able to provide added value to shareholders and investors.Keywords:Cost of Capital, EVA, Weighted Average Cost Of Capital

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