scholarly journals ANALISIS ECONOMIC VALUE ADDED (EVA) DAN MARKET VALUE ADDED (MVA) SEBAGAI ALAT UKUR KINERJA KEUANGAN PT GARUDA INDONESIA TBK TAHUN 2017 -2019

2020 ◽  
Vol 2 (1) ◽  
pp. 31-45
Author(s):  
Ferry Irawan ◽  
Nico Yudha Manurung
Keyword(s):  
Financial Performance ◽  
Stock Price ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
The State ◽  
Economic Value Added ◽  
Public Company ◽  
Market Value Added

PT Garuda Indonesia Tbk was one of the state-owned corporation that have go public on Bursa Efek Indonesia (BEI). As a public company, PT Garuda Indonesia should create a good financial performance to attract financier (investor or creditor). The purpose of this study were to measure the financial performance by Economic Value Added (EVA) and Market Value Added (MVA). The result of this study is the company get a negative EVA in 2017 until 2019 which mean the company was not able to create value added for financier. In 2017 and 2018, MVA get a negative value which mean the company was not able to create value added for investor. In 2019, MVA get a positive value because the company’s stock price increased 73% from previous year.PT Garuda Indonesia Tbk merupakan salah satu Badan Usaha Milik Negara (BUMN) yang telah go public di Bursa Efek Indonesia (BEI). Sebagai perusahaan terbuka, PT Garuda Indonesia Tbk harus menciptakan kinerja keuangan yang baik untuk menarik pemodal (investor atau kreditur). Tujuan dari penelitian ini adalah untuk mengukur kinerja keuangan dengan Economic Value Added (EVA) dan Market Value Added (MVA). Hasil penelitian ini adalah perusahaan memperoleh nilai EVA yang negatif pada 2017-2019 yang berarti perusahaan tidak berhasil menciptakan nilai tambah bagi para pemodal. Pada 2017 dan 2018, MVA memperoleh nilai yang negatif yang berarti perusahaan gagal menciptakan nilai tambah pagi para investor. Pada 2019, MVA memperoleh nilai yang positif karena harga saham perusahaan yang meningkat sebesar 73% dari tahun sebelumnya.

Analisis Pengaruh Economic Value Added, Profitabilitas dan Market Value Added Terhadap Harga Saham Perusahaan

2022 ◽  
Vol 4 (3) ◽  
pp. 867-879
Author(s):  
Risal Rinofah ◽  
Pristin Prima Sari ◽  
Heni   Nur Amrina
Keyword(s):  
Regression Analysis ◽  
Multiple Regression Analysis ◽  
Stock Price ◽  
Sampling Method ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Economic Value Added ◽  
Negative Effect ◽  
Market Value Added

The purpose of this study is to find out whether the effect of Market Value Added, Profitability, and Market Value Added on stock price. Sampling in this study is a purposive sampling method. Then the data is tested using multiple regression analysis. The results of the t test showed that the Economic Value Added has a signification value of 0,018 which means smaller than 0,05 and the calculated value of -2.441<t tablel 2.00758 then H1 is accepted. Profitability has a signification value of 0,034 greater than 0,05 and a calculated value of 2.182>t table 2.00758 then H2 is accepted, Market Value Added has significant  value of 0,223 greater than 0,05 and the value of t calculated -1.235<t table 2.00758 then H3 is rejected. The results of the F test showed that Economic Value Added, Profitability, Market Value Added have a calculated F value of 2,933 and sig. 0,042. Because the value F calculated 2.933>F table 2.773 and sig. value 0,042<0,05. It can be concluded that partially Economic Value Added has a significant negative effect on stock price, Profitability has a significant effect on stock price, Market Value Added has no significant effect on stock price and simultaneously Economic Value Added, Profitability, Market Value Added has a significant effect on stock price Keywords: Economic Value Added, Profitabilitas, Market Value Added, Stock Price

scholarly journals 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 ◽  
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.

scholarly journals Analisis Kinerja Keuangan Dengan Metode Economic Value Added (EVA), Market Value Added (MVA), dan Financial Value Added (FVA)

2019 ◽  
Vol 20 (2) ◽  
pp. 200-210 ◽  
Author(s):  
Rahmah Arafati Masyiyan
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Sampling Technique ◽  
Economic Value Added ◽  
Analysis Techniques ◽  
Operating Profit ◽  
Market Value Added

EVA, MVA, and FVA analysis techniques are used to see better and more efficient financial performance of the company. This study aims to determine financial performance based on EVA (Economic Value Added) method, Market Value Added, and Financial Value Added in coal mining sub-sector companies listed on the Indonesia Stock Exchange. This study uses a descriptive quantitative method, with a purposive sampling technique in the coal subsector mining companies listed on the Stock Exchange and posting operating profit for the period 2014-2018.EVA results in this study are 6 companies with stock codes BYAN, DOID, ITMG, PTBA, SMMT, and TOBA which have positive EVA values over a period of 5 years. Then from this study there are MVA results that tend to be negative. There are 3 companies with stock codes DOID, ITMG, and PTRO that have negative MVA values each year for a period of 5 years. Then for the FVA value generated in this study, there are 3 companies that have negative FVA values each year during the study period, those companies are companies with stock codes DOID, KKGI, and PTRO.

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 Analisis Economic Value Added (EVA) dan Market Value Added (MVA) sebagai Alat Pengukur Kinerja Keuangan PT SA

2016 ◽  
Vol 2 (2) ◽  
pp. 123 ◽  
Author(s):  
Wilmar Amonio Gulo ◽  
Wita Juwita Ermawati
Keyword(s):  
Financial Performance ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Share Price ◽  
Economic Value Added ◽  
Investor Confidence ◽  
Market Value Added

<em>The company should demonstrate good financial performance to attract investors by financial performance based on value-added and market value. The objectives of this study at PT SA limited were: (1) To analyze the financial performance by Economic Value Added (EVA) method, (2) To analyze the financial performance by Market Value Added (MVA) method. The results showed the company was not able to add economic value to the company, which proved by EVA in 2008 was higher than in 2009. It is concluded that the company can not afford to pay obligations to investors as expected. However, different result showed by MVA, which indicates the company succes to managed the investor confidence over a given capital by increasing the value of capital invested. MVA showed results in 2008, the value of MVA was positive, and in 2009, the company's MVA achieved a significant increase in the amount of 379.42% from the previous year. The share price continued to increase making the MVA values continue to rise.</em>

Investigation the Impact of Financial performance indicators on Dividend Policy

2016 ◽  
Vol 6 (1) ◽  
pp. 02
Author(s):  
Ali Maghool
Keyword(s):  
Financial Performance ◽  
Performance Indicators ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Economic Value Added ◽  
Return On Assets ◽  
Market Value Added

AbstractThis paper aims to study the effect of Financial performance indicators on the dividend policy among companies listed on the Tehran Stock Exchange. The statistical sample includes 91 companies between 2008 and 2012. Dividend policy was considered a dependent variable, independent variables were economic value added, market value added, return on assets, and market to book value ratio, and control variables included company size and systematic risk. In the theoretical principles part, data were gathered through library method, and in the part of hypothesis tests, data were collected from financial statements and the Tehran Stock Exchange Website. Data were then examined in a multiple regression analysis and a correlation test. Results showed that Financial performance indicators indicators are direct and significant effects on dividend policy.Keywords: Dividend Policy, Financial performance indicators, Economic Value Added, Market Value Added, Return on Assets

scholarly journals ANALISIS EVA DAN MVA PADA PERUSAHAAN JAKARTA ISLAMIC INDEKS

2016 ◽  
Vol 6 (1) ◽  
Author(s):  
Ghazali - Syamni
Keyword(s):  
Financial Performance ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
The Other ◽  
Economic Value Added ◽  
Other Hand ◽  
Performance Tradition ◽  
The Future ◽  
Market Value Added

AbstrakTujuan penelitian ini adalah menganalisis kinerja keuangan berdasarkan economic value added (EVA) dan market value added (MVA) pada saham yang termasuk di Jakarta Islamic Indeks. Penggunaan analisis ini dikarenakan kinerja perusahaan dengan menggunakan kinerja tradisi belum mencermin nilai ekonomi dari perusahaan. Di masa yang akan datang.  Hasil penelitian menemukan bahwa nilai Economic Value Added pada tahun 2011 sampai dengan 2013 tertinggi dimiliki oleh perusahaan United Tractor Tbk. Sementara Market Value Added tertinggi oleh perusahaan Indocement Tunggal Prakarsa Tbk. Pada tahun 2012 PT Charoen Pokhpand Tbk sedangkan pada tahun 2013 kembali pada perusahaan Indocement Tunggal Prakarsa Tbk. Di sisi lain nilai terendah untuk Economic Value Added pada tahun 2011 sampai dengan 2013 adalah Kalbe Farma Tbk,  perusahaan Telekomunikasi Indonesia Tbk, dan Kalbe Farma Tbk. Sementara Market Value Added nilai terendah pada tahun 2011 sampai 2013 adalah PT . London Sumatera Plantation Tbk Katakunci: kinerja, keuangan, EVA , MVA AbstractThe purpose of this study was to analyze financial performance based on economic value added (EVA) and market value added (MVA) in shares included in the Jakarta Islamic Index. The use of this analysis due to the company's performance using the performance tradition not reflect the economic value of the company. In the future. The results found that the value of Economic Value Added in 2011 to 2013 the highest owned by United Tractor Tbk. While the highest Market Value Added by company Indocement Tbk. In 2012 PT Charoen Pokhpand Tbk whereas in 2013 returned to the company Indocement Tbk. On the other hand the lowest value for Economic Value Added in 2011 to 2013 is Kalbe Farma Tbk, the company Telekomunikasi Indonesia Tbk, and Kalbe Farma Tbk. While the Market Value Added lowest value in 2011 until 2013 were PT. London Sumatra Plantation Tbk Katakunci: performance, Financial, EVA , MVA

scholarly journals VALUE BASED DAN MARKET BASED SEBAGAI PREDIKTOR HARGA SAHAM PADA PERUSAHAAN LQ45

2017 ◽  
Vol 7 (1) ◽  
pp. 977
Author(s):  
Arna Suryani
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Economic Value ◽  
Predictor Variable ◽  
Value Added ◽  
Secondary Data ◽  
Market Value ◽  
Economic Value Added ◽  
Market Value Added

This study aims to obtain empirical evidence whether value added and market value is predictorof stock prices. The value based concepts is measured by economic value added and marketbased concepts measured by market value added. The object of study is index LQ45 companieslisted in Indonesian Stock Exchange period 2012-2016. The selection of samples based on purposive sampling with certain criteria and selected as many as 18 companies index LQ45. The dataused in this research is secondary data using quantitative approach. Further testing will bedone by classical assumptions against the data collected using regression analysis and testhypothesis F and t.The results of this study prove empirically that together Economic Value Added and MarketValue Added is positive and significant predictor of the company’s stock price because the significant is 0.000 smaller than 0.05. Partially significant level of 0.05 EVA has a negative effectof 0.14 on stock prices, it can be concluded that the EVA is a predictor variable has a negativeeffect that is not significant to stock prices at index LQ45. Significant level of MVA that is equalto 0.000 smaller than the significant level of 0.05. MVA positive influence of 0.599 to stock price.It can be concluded that the partial variable MVA positive effect is a significant predictorvariable to stock prices at index LQ45.Keyword:economic value added, market value added, financial performance, stock price

scholarly journals Analysis of Economic Value Added and Market Value Added to Measure Financial Performance in Pulp and Paper Companies

2019 ◽  
Vol 3 (1) ◽  
pp. 77-85
Author(s):  
Wahab Edi Saputra ◽  
Agus Sukoco ◽  
Joko Suyono ◽  
Damasari Ratnasahara Elisabeth
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Paper Industry ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Pulp And Paper ◽  
Economic Value Added ◽  
Market Value Added ◽  
Practical Implications

Purpose:  The purpose of this study was to determine the company's financial performance in the pulp and paper industry which was measured using the concept of Economic Value Added (EVA) and Market Value Added (MVA) during the period 2017 and 2018. Design/methodology/approach:   Research data is obtained through related websites and literature review. Findings: The results of the measurement of EVA and MVA for the period 2017 and 2018 show only  PT.Alkindo Naratama, Tbk. which adds to the economic value of the company and market value added (> 0).     Research limitations/implications: The population in this study consisted of all pulp and paper companies that had go public and be listed on the Indonesia Stock Exchange (IDX), which is as many as nine companies, then do the purposive sampling selection which obtained a sample of  four companies.    Practical implications: While three companies, namely PT. Kedawung Setia Industrial, Tbk. PT.Suparma, Tbk. and PT. Kertas Basuki Rachmat, Tbk. experience instability in EVA and MVA.   Originality/value:  

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