scholarly journals The Relationship between the Market Value Added of SMEs Listed on AIM Italia and Internal Measures of Value Creation The Role of Corporate Strategic Planning

2017 ◽  
Vol 9 (1) ◽  
pp. 121
Author(s):  
Andrea Quintiliani
Keyword(s):  
Panel Data ◽  
Strategic Planning ◽  
Statistical Tests ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Capital Allocation ◽  
Economic Value Added ◽  
Market Value Added ◽  
The Relationship

Objectives - In saying that measurement of financial performance plays an important role in the capital allocation choices, the aim of this study is to test the relationships between Market Value Added (MVA), stockholders value measures and presence of formal strategic plan.Methodology - The study is among descriptive and correlational researches and using panel data methodology on sample of SMEs listed in AIM Italia. The time under study was from 2010 to 2015. In addition, the hypotheses of the research have been tested using Rahavard Novin software for data collection and SPSS 20.0 for data analysis.Findings - The results indicate that Refined Economic Value Added (REVA) has more correlation with Market Value Added (MVA) than Economic Value Added (EVA); in addition, the results obtained using panel data methodology shows that the use of strategic plans influences the relationship between value performance measures and MVA.Research limits - Data used for this study need to be subjected to more statistical tests in order to establish a more robust validity and reliability. It is necessary to acquire further strengthened data and assume a variety of conditional situations. It is expected that subsequent studies can use larger samples and diversified by sector, a broader geographic base and a multi-faceted analyses.Practical implications - This work offer necessary evidences in order to help capital market participants to make rational decision in investment process.Originality of the study - The originality of this study is the correlation between MVA, financial measures and use of strategic planning for value management.

scholarly journals The Relationship between Economic Value Added (EVA®) and Market Value Added (MVA) With Reported Earnings: An Empirical Research Of 40 Listed Companies In Indonesia Stock Exchange For The Year 2004-2007

2008 ◽  
Vol 1 (1) ◽  
pp. 60-72
Author(s):  
Pratiwi Putri Wibowo ◽  
Ruben Garcia Berasategui
Keyword(s):  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Listed Companies ◽  
Economic Value Added ◽  
Market Value Added ◽  
Reported Earnings ◽  
Relationship Of ◽  
The Relationship

This study was made to examine the relationship between Economic Value Added (EVA®) and Market Value Added (MVA) with the reported earnings. Thus, the purpose is to gain better understanding in the use of EVA and MVA in relation to the reported earnings in certain purposes from different regression models. With the sample of 40 Indonesian listed companies in Indonesia Stock Exchange from year 2004 to 2007, the hypothesis testing is used to find the relationships among variables. The author use formula for calculating EVA and MVA to be use in four models of regression analysis against reported earnings. This study found evidence in the relationships between EVA and MVA with reported earnings, and the highest correlation among the models is relationship within the same year period, which can be used for evaluation purposes. Only the relationship of the EVA in the previous year and reported earnings changes is proved not significant. Still, MVA is more significant in explaining its relationship with reported earnings rather than EVA. The author concludes that in general, Indonesian listed companies still produces negative EVA. On the other hand, while the EVA and MVA are proved to have correlation with reported earnings, the result for EVA is lower than MVA. Therefore, there is still not enough evidence that EVA can be used to explain the reported earnings effectively other than MVA.

scholarly journals The Relationship Between Economic Value Added, Market Value Added And Return On Cost Of Capital In Measuring Corporate Performance

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Suwinto Johan
Keyword(s):  
Cost Of Capital ◽  
Economic Value ◽  
Weighted Average ◽  
Value Added ◽  
Market Value ◽  
Company Performance ◽  
Economic Value Added ◽  
Investment Performance ◽  
Market Value Added ◽  
The Relationship

The aim of the paper is to assess the relationship between Economic Value Added (EVA), Market Value Added (MVA) and the traditional financial ratio in measuring investment performance by a holding company. The sample is PT. Astra International, Tbk in Indonesia. Astra is one of the largest conglomerate in Indonesia with diversify business from automotive, financial service, agro, infrastructure and technology. All of the investments are consolidated under single company, which is PT. Astra International, Tbk. The research assessed the financial performance from 2009 – 2016. The research will use Economic Value Added (EVA), Market Value Added (MVA) and Return on Weighted Average Cost of Capital (ROC) as financial measurement tools. The research found that there was a direct relationship between ROC and EVA. Negative EVA and negative ROC did not reflect the MVA on company performance. Negative EVA and ROC, could have positive Market Value Added (MVA). However negative MVA value will also reflect on negative EVA and ROC.

Pengaruh Pengungkapan Corporate Social Responsibility (CSR) Pada Nilai Perusahaan

2011 ◽  
Vol 3 (2) ◽  
pp. 1-19
Author(s):  
Chermian Eforis ◽  
Rosita Suryaningsih
Keyword(s):  
Corporate Social Responsibility ◽  
Annual Report ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Economic Value Added ◽  
Market Value Added ◽  
Csr Disclosure ◽  
Corporate Social ◽  
Simple Regression

This study aims to determine the influence of the level of CSR disclosure in annual report to corporate values that proxies with Economic Value Added (EVA) and Market Value Added (MVA).   The objects of this study are companies that were included in Kompas 100 Edition of the second review in 2010.The chosen model of this research is simple regression which can be defined as a model that used the normal probability plot  for data normality test, DurbinWatson test for autocorrelation, graph plots to test heteroscedasticity, and saw the value of tolerance and VIF for multicollinearity test. Hypothesis is analyzed using simple regression method  The results showed that the level of CSR disclosure contained in the annual report has a significant influence on the EVA. The same results were also found on the MVA, where the level of CSR disclosure contained in the annual report has a significant influence on the MVA. Key words: Corporate Social Responsibility, Economic Value Added, Market Value Added

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

Систематизация научных подходов к управлению конкурентоспособностью в сфере услуг: экономическая сущность, критерии

2020 ◽  
Vol 91 (2) ◽  
pp. 29-37
Author(s):  
Ирина Викторовна Жуковская ◽  
Keyword(s):  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Economic Value Added ◽  
Market Value Added

В научной статье систематизированы научные подходы к управлению конкурентоспособностью в сфере услуг, в рамках которых выявлены классификационные признаки критериев управления конкурентоспособностью; уточнены понятия конкурентоспособности и конкуренции в сфере услуг. На основе обоснования применения метода добавленной стоимости акционерного капитала (share holder's value added - SVA); метода экономической добавленной стоимости Стюарта (economic value added - EVA), метода добавленной рыночной стоимости (market value added - MVA) составлена рейтинговая оценка индекса конкурентоспособности GCI на примере Центрального и Приволжского Федерального округов.

scholarly journals The Influence of Economic Value Added and Return on Assets on Created Shareholders Value: A Comparative Study in Jordanian Public Industrial Firms

2017 ◽  
Vol 9 (4) ◽  
pp. 63 ◽  
Author(s):  
Sliman S. Alsoboa
Keyword(s):  
Economic Value ◽  
Value Added ◽  
Economic Value Added ◽  
Return On Assets ◽  
Industrial Firms ◽  
Value Added Model ◽  
Market Value Added ◽  
And Performance ◽  
The Relationship ◽  
Financial Measure

This study has two main objectives. The first one is to address the relationship between Economic Value Added (EVA) and Created Shareholders Value (CSV) in Jordanian public industrial firms (JPIF), comparing to the Return on Assets (ROA) over the period 2011-2015. The second objective is to address the possible superiority of EVA to ROA by explaining the changes in CSV for JPIF. In this study, CSV is measured using two models; Fernandez model and market value added model. Multiple and simple regressions were used in the study. These analyses have shown, generally, that the superiority of EVA in predicting and evaluating the CSV could be put into a conclusive and positive light compared to ROA. However, the results suggested that one financial measure cannot be enough to measure neither CSV nor firms’ performance. Therefore, this study highly recommends that JPIF use a combination of different measure in assessing and evaluating their value and performance, especially modern indicators.

scholarly journals ANALISIS KINERJA KEUANGAN PT WIJAYA KARYA Tbk PRA-PASCA BUYBACK SAHAM PADA TAHUN 2020

2021 ◽  
Vol 2 (2) ◽  
pp. 34-45
Author(s):  
Maretha Primarini ◽  
Ambang Aries Yudanto2
Keyword(s):  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Economic Value Added ◽  
Market Value Added

Penelitian ini bertujuan untuk mengetahui kinerja keuangan PT Wijaya Karya Tbk pra dan pasca melaksanakan buyback saham tanpa RUPS (Rapat Umum Pemegang Saham). Alat yang digunakan untuk mengukur kinerja keuangan tersebut menggunakan metode berbasis value added, yaitu Economic Value Added (EVA) dan Market Value Added (MVA). Nilai EVA diperoleh dari pengurangan NOPAT dengan biaya modal perusahaan, sedangkan nilai MVA diperoleh dari nilai pasar ekuitas dikurangi dengan modal ekuitas yang diinvestasikan investor. Bahan analisis yang digunakan adalah laporan keuangan PT Wijaya Karya Tbk kuartal ke-II 2020 untuk periode pra buyback, dan laporan keuangan tahunan tahun 2020 untuk periode pasca buyback. Hasil dari analisis ini adalah terdapat peningkatan nilai EVA dan MVA untuk periode pasca buyback. Namun nilai EVA yang dihasilkan, baik pra-pasca buyback tetap negatif. Sedangkan nilai MVA pra-buyback bernilai negatif, berhasil mencapai nilai positif pasca buyback.

scholarly journals PENGARUH ECONOMIC VALUE ADDED (EVA) DAN MARKET VALUE ADDED (MVA) TERHADAP RETURN SAHAM PERUSAHAAN OTOMOTIF DI INDONESIA TAHUN 2007–2010

El Dinar ◽  
2014 ◽  
Vol 1 (02) ◽  
Author(s):  
Putri Kurnia Widiati
Keyword(s):  
Stock Return ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Stock Exchanges ◽  
Good Prediction ◽  
Economic Value Added ◽  
Market Value Added ◽  
Important Position

<p>This study analyzed the effect of Economic Value Added (EVA), Market Value Added (MVA) of otomotif companies Stock return listed on stock exchanges Indonesia, because otomotif companies have an important position on Indonesian Economics.Population of this research are otomotif company that listed on the Stock Exchange of Indonesia from 2007–2010 with sensus sampling method and multiple regresion analysis to analyzed. For the parsial side Market Value Added (MVA) has an influence to stock return of Otomotif Company that listed on the Stock Exchange. To get the trust from investor, otomotif company should have good performance with a good value of Market Value Added, because Market Value Added has significant effect to stock return; and have a good prediction about another factor that influence the stock return wich used histories data for the indicator.</p><p> </p>

scholarly journals ANALISIS METODE ECONOMIC VALUE ADDED (EVA) DAN MARKET VALUE ADDED (MVA) UNTUK MENGUKUR KINERJA KEUANGAN

2020 ◽  
Vol 3 (1) ◽  
pp. 123
Author(s):  
Dini Ramadhanty ◽  
Supramono Supramono ◽  
Diah Yudhawati
Keyword(s):  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Economic Value Added ◽  
Market Value Added

Penelitian dengan judul Analisis Metode Economic Value Added (EVA) Dan Market Value Added (MVA) Untuk Mengukur Kinerja Keuangan Pada Sektor Pertanian Sub Sektor Tanaman Pangan Tahun 2014-2018 bertujuan untuk mengetahui kinerja keuangan perusahaan jika diukur dengan menggunakan metode Economic Value Added (EVA) dan menggunakan metode Market Value Added (MVA) pada PT Bisi International Tbk, periode 2014-2018. Metode yang digunakan dalam penelitian ini adalah penelitian deskriptif. Populasi sekaligus sampel dalam penelitian adalah perusahaan PT Bisi international Tbk dikarenakan hanya ada satu emiten untuk sub sektor tanaman pangan yang terdaftar dalam Bursa Efek Indonesia. Hasil penelitian ini menunjukan bahwa PT Bisi International Tbk, sudah mampu menghasilkan nilai tambah ekonomis bagi perusahaan dilihat dari nilai EVA positif selama 5 periode 2014-2018. PT Bisi International Tbk, mampu menghasilkan nilai MVA yang positif sehingga perusahaan PT Bisi International Tbk, dapat memberikan nilai tambah pasar pada perusahaan serta memberikan kekayaan bagi investor.

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