scholarly journals ANALISIS PENGARUH FAKTOR DETERMINAN TERHADAP ECONOMIC VALUE ADDED DAN IMPLIKASINYA TERHADAP PERGERAKAN HARGA SAHAM PROPERTI DI BURSA EFEK INDONESIA

2019 ◽  
Author(s):  
Afriyeni Afriyeni ◽  
jhon fernos
Keyword(s):  
Interest Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Economic Value ◽  
Value Added ◽  
Share Price ◽  
Debt Ratio ◽  
Economic Value Added ◽  
Model Framework ◽  
Ceteris Paribus

Property sector companies whose shares are traded on the Indonesia Stock Exchange (IDX) has a period of booming growth dynamics of a property crash period when the economic crisis. Economic Value Added (EVA) valuing the company economically while assessing the company's stock price is the market. Four determinant factors in the EVA model framework: profitability (ROA), capital structure (debt ratio), beta stocks and interest rates; investigated its effect on EVA and its implications for stock price movement. Testing hypotheses through stages: (i) the design of the model-path (path analytical model), (ii) parameter estimation, (iii) analysis of the model, and (iv) model evaluation. Estimation models with SPSS ver ver 10:05 and 8:51 LISREL. The results are: (i) EVA influenced by, from the most dominant, ROA profitability levels, interest rates, debt ratio, and beta stocks (R2 = 95%). ROA has a positive effect, interest rate and debt ratio negatively, whereas no significant effect of beta stocks (balance); (ii) The movement of stock prices are influenced by, from the most dominant, beta stocks, interest rates, ROA, and the debt ratio (R2 = 20%). ROA beta and positive influence, a negative influence interest rates, whereas the effect of debt ratio balance; (iii) If the ROA rose one standard unit, precision EVA rose 0.98 units and the stock price rose 0.20 units, if the interest rates go down one unit, EVA rose by 0.10, the stock price rose 0.25 units; if debt ratio down one unit, EVA rose 0.06 units, but does not cause a change in the stock price; when beta stocks rose one-unit standard, EVA has not changed but the stock price will rise by 0:37 units, ceteris paribus. Single regression analysis model EVA exogenous to the movement of stock prices show that the company's share price movements in the property sector IDX very little influenced by variations in EVA (4.7%), the stock price will rise by 0:22 dipresisikan if EVA unit up one unit, ceteris paribus.

scholarly journals PENGARUH ANALISIS RETURN ON EQUITY, ECONOMIC VALUE ADDED, NET WORKING CAPITAL RATIO TERHADAP HARGA SAHAM INDUSTRI MANUFAKTUR DI BURSA EFEK JAKARTA

2018 ◽  
Vol 10 (3) ◽  
pp. 394-408
Author(s):  
Wimba Respatia
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Economic Value ◽  
Value Added ◽  
Financial Ratios ◽  
Economic Value Added ◽  
Working Capital ◽  
Cross Sectional ◽  
Return On Equity ◽  
The Impact

Real stock price actually is depend on the fundamental condition of the company. Investor make some invest decision with buy some stock, before that they must consider about emiten profit, deviden, growth of sale and asset for the time frame.  Beside that, company prospect in the future must be consider. Stock price influence by EVA and financial ratios. In this research we  combines about the influence of financial ratios and EVA to stock prices for the manufacture industries inIndonesia.This study aims to investigate the impact of economic value added, return on equity and net working capital ratio to the stock price of the manufacture industries in BEJ. We used purposive sampling method, with pooled cross sectional during 2001 until 2003 in 52 companies. Multiple regression model was used to test hypthesis with take 3 free variables.The test hypthesis about return on equity, economic value added and net working capital ratio in BEJ during 2001 until 2003, doesn’t put to a test. It’s identification with one variable wich is doesn’t give the influence to the stock price in manufacture industries, the variable is return on equity ratios and the other variables which are give the influence to the stock price are : economic value added and net working capital ratio.  

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 Derivative Analysis of Value Added to Stock Returns at Jakarta Islamic Index

2020 ◽  
Vol 8 (2) ◽  
pp. 155
Author(s):  
Fuad Hasyim ◽  
Resyta Aulia Ardityasari
Keyword(s):  
Stock Returns ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Return ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Economic Value Added ◽  
Derivative Analysis ◽  
Market Value Added

<p>This study aims to examine the effect of value added derivative such as economic value added (EVA), market value added (MVA) and refined economic value added (REVA) on stock return with stock price as an intervening variable. The object of this study are all Islamic stocks listed in the Jakarta Islamic Index (JII) in the period 2014-2019. This study using purposive sampling method and obtained by 11 companies. Data processing using panel regression with common, fixed and random modelling approach. The results show that economic value added  (EVA) has no effect either on stock prices or stock returns, market value added (MVA) affects the stock price and stock return, while refined economic value added (REVA) has no effect on both. Then, stock prices are only able to mediate the effect of market value added (MVA) on stock return.</p>

scholarly journals PENGARUH ANALISIS RETURN ON EQUITY, ECONOMIC VALUE ADDED, NET WORKING CAPITAL RATIO TERHADAP HARGA SAHAM INDUSTRI MANUFAKTUR DI BURSA EFEK JAKARTA

2017 ◽  
Vol 10 (3) ◽  
pp. 394
Author(s):  
Wimba Respatia
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Economic Value ◽  
Value Added ◽  
Financial Ratios ◽  
Economic Value Added ◽  
Working Capital ◽  
Cross Sectional ◽  
Return On Equity ◽  
The Impact

Real stock price actually is depend on the fundamental condition of the company. Investor make some invest decision with buy some stock, before that they must consider about emiten profit, deviden, growth of sale and asset for the time frame.  Beside that, company prospect in the future must be consider. Stock price influence by EVA and financial ratios. In this research we  combines about the influence of financial ratios and EVA to stock prices for the manufacture industries in Indonesia.This study aims to investigate the impact of economic value added, return on equity and net working capital ratio to the stock price of the manufacture industries in BEJ. We used purposive sampling method, with pooled cross sectional during 2001 until 2003 in 52 companies. Multiple regression model was used to test hypthesis with take 3 free variables.The test hypthesis about return on equity, economic value added and net working capital ratio in BEJ during 2001 until 2003, doesn’t put to a test. It’s identification with one variable wich is doesn’t give the influence to the stock price in manufacture industries, the variable is return on equity ratios and the other variables which are give the influence to the stock price are : economic value added and net working capital ratio.  

scholarly journals PENGARUH ECONOMIC VALUE ADDED (EVA) DAN RASIO PROFITABILITAS TERHADAP HARGA SAHAM

2018 ◽  
Vol 2 (2) ◽  
pp. 290-303
Author(s):  
Venni Agnatia ◽  
Diah Amalia
Keyword(s):  
Coal Mining ◽  
Stock Price ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Economic Value ◽  
Value Added ◽  
Economic Value Added ◽  
Return On Equity ◽  
Total Data ◽  
Profitability Ratios

The purpose of this research is to analyze the effect of Economic Value Added (EVA) and profitability ratios partially and simultaneously to the coal mining company’s stock price. The profitability ratios used in this research as independent variable are Return on Asset (ROA), Return on Equity (ROE), Return on Investment (ROI) and Net Profit Margin (NPM) although the stock price as the dependent variable. The samples used were 14 companies from 25 coal mining companies listed in Indonesia Stock Exchange during the period 2011-2017 so total data processed is 98 samples. This research used linear regression analysis with Eviews version 9. The result indicated that partially the variable ROA and ROI has significant positive effect on stock price. EVA, ROE and NPM does not affect the stock price. All variables simultaneously affect to the stock price.   Keyword: EVA, ROA, ROE, ROI, NPM, Stock Price

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 Analisis Kinerja Keuangan Perusahaan dengan Metode Economic Value Added (EVA) (Studi Kasus Perusahaan Otomotif Go Publik)

2016 ◽  
Vol 1 (2) ◽  
pp. 106
Author(s):  
Rahman Mubarok ◽  
Farida Ratna Dewi
Keyword(s):  
Capital Structure ◽  
Stock Price ◽  
Cost Of Capital ◽  
Corporate Performance ◽  
Economic Value ◽  
Value Added ◽  
Economic Value Added ◽  
Stock Indexes ◽  
Global Economics ◽  
A Performance

<p><em>Global economics crisis causes the fall of world stock. This is causes weakens it share in BEI, including sector otomotif.  BEI has some stock indexes as movement indicator of stock price, one of them is index Kompas 100.  This Index represents of  about 70-80 percent market capitalization value total of share  in BEI.  However, that can be different with other index, so that be necessary to measure of each corporate performance with using Economic Value Added (EVA) method.    EVA is used to measure of corporate performance based of the value.  value added will be create, if the retained earning more than cost of capital.  From two company analized during the 2007 to 2008 period,  there is only one of corporate have a performance increase at 2008, that is PT Multistrada Arah Sarana Tbk, this is mean the corporate has been investor expectation filled.  Differ from PT Multistrada, PT Gajah Tunggal at 2008 have a performance decrease. At 2007 it have positive value of EVA, but at 2008 value of EVA get down to negative. This is happen cause of dead loss in consequence of global economics crisis. For the companies that give the negative value, it  better find out more strategies so it  can make their profit rise and also to push the capital cost with choosing the lowest capital structure. Beside that, the companies also should erase the activities that can caused the value of the company becoming less.</em><strong></strong></p>

scholarly journals Pengaruh Economic Value Added Dan Free Cash Flow Terhadap Stock Price

2021 ◽  
Vol 3 (2) ◽  
pp. 481
Author(s):  
Stefany Tantri ◽  
Yusbardini Yusbardini
Keyword(s):  
Cash Flow ◽  
Stock Price ◽  
Sampling Method ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Economic Value ◽  
Value Added ◽  
Free Cash Flow ◽  
Economic Value Added ◽  
Purposive Sampling

The purpose of this study is to examine the effect of economic value added and free cash flow in manufacturing sector consumer industry in Indonesian Stock Exchange on period 2015-2019. The sample of this study are 31 company with purposive sampling method. Data were collected by official website of Indonesian Stock Exchange. The data will be analysis by using Eviews9 application. The result found that economic value added have significant effect to stock price, free cash flow have significant effect to stock price and economic value added and free cash flow simultaneously have significant effect to stock price. Tujuan dari penelitian ini adalah untuk mengetahui pengaruh nilai tambah ekonomis dan arus kas bebas pada perusahaan manufaktur sektor industri barang konsumsi di Bursa Efek Indonesia periode 2015-2019. Sampel dari penelitian ini adalah 31 perusahaan dengan metode purposive sampling. Data perusahaan diperoleh dari website resmi Bursa Efek Indonesia. Data dianalisis menggunakan aplikasi Eviews9. Hasil penelitian ini menemukan bahwa nilai tambah ekonomis mempunyai pengaruh yang signifikan terhadap harga saham, arus kas bebas mempunyai pengaruh yang signifikan terhadap harga saham, dan nilai tambah ekonomis dan arus kas bebas secara simultan mempunyai pengaruh yang signifikan terhadap harga saham.

scholarly journals ECONOMIC VALUE ADDED (EVA) SEBAGAI PENGUKURAN KINERJA KEUANGAN PADA INDUSTRI TELEKOMUNIKASI SUATU ANALISIS EMPIRIK

2018 ◽  
Vol 1 (1) ◽  
pp. 101-119
Author(s):  
Trinik Susmonowati
Keyword(s):  
Financial Performance ◽  
Stock Price ◽  
Cost Of Capital ◽  
Economic Value ◽  
Value Added ◽  
Financial Statements ◽  
Capital Cost ◽  
Economic Value Added ◽  
The Impact ◽  
A Company

The company's performance has always been measured based on financial ratios for a certain period. Measurement based on financial ratios is very dependent on the accounting treatment used in the preparation of corporate financial statements. The purpose of a company that is only oriented to the achievement of profits as big as when it is no longer relevant today. Therefore the responsibility of the company not only to the shareholders, but to all stakeholders. Performance appraisal of a company is very important that the assessment process must be in line with the effectiveness and efficiency in achieving competitive advantage in the business world. Since the last ten years has developed a new approach in assessing the financial performance of companies known as Economic Value Added (EVA). EVA model comes from the concept of capital cost (cost of capital), which is the risk faced by the company in making investments. The concept of Economic Value Added (EVA) as an alternative to performance measurement based on the value (EVA) is an approach in assessing the performance of the company by paying fair attention to the expectations of funders or investors. EVA is the profit left behind after deducting the capital cost (cost of capital) invested to generate the profit. Positive EVA values can be interpreted that the company's management has created value (creating value). Conversely, if the value of negative EVA means that there is no economic value added into the company. The goal to be achieved by the authors in this study is To determine the financial performance of Telecommunications Company in review of Economic Value Edded (EVA). And To know Which Telecommunication Company that provides better economic value.This research used qualitative analysis. The qualitative analysis method is used to interpret and analyze the result of EVA calculation, that is to measure the added value of the company by calculating all capital cost, either the capital contribution from the shareholder or from the loan, or the risk faced by the company in making the investment. To measure the company's performance required financial report data in the form of income statement and balance sheet, JCI, stock price and SBI rate data. Data Collection Procedure is the data of financial statements of companies from the telecommunications industry listed on the Indonesia Stock Exchange in the period 2005-2009, obtained from www.idx.co.id. Monthly monthly stock price index (IHSG) monthly from 2005-2009, interest rate of 12 month time deposit from 2005-2009 and stock price data used since 2005.The results show that only PT Telekomunikasi Indonesia Tbk alone can generate positive EVA, while PT Indosat Tbk and PT Bakrie Telecom Tbk generate negative EVA. Negative EVA values are caused by several factors, among others: because of the significant increase in fuel prices, followed by inflation and rising interest rates affecting people's purchasing power, rising capital costs and operational costs of both companies, the impact of the 2008 global financial crisis that affected on declining stock value and the impact of tariff war between telecommunication companies where telephone tariffs are lower and the decline in long distance call rates affects the telecommunication company's operating revenues.

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