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

Gulo, Wilmar Amonio; Ermawati, Wita Juwita

doi:10.29244/jmo.v2i2.14202

Cited by 12 publications

(11 citation statements)

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“…Dalam menarik perhatian para investor ini perusahan harus dapat menunjukkan kinerja keuangan perusahaan yang baik, dikarenakan investor hanya akan tertarik berinvestasi atau membeli saham pada perusahaan dengan kinerja keuangan yang bagus [2]. Sebelum melakukan investasi para investor akan terlebih dahulu melakukan analisis untuk mempertimbangkan apakah sebuah perusahaan memiliki kinerja keuangan yang baik atau tidak, sehingga memastikan apakah modal yang diinvestasikan akan cukup aman dan mendapatkan tingkat pengembalian (rate of return) yang menguntungkan dan sesuai harapan para investor [3].…”

Section: Pendahuluanunclassified

Analisis Kinerja Laporan Keuangan Menggunakan Metode Economic Value Added Pada Perusahaan Go Public

Safhira

Darwis²

2022

JIMASIA

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In attracting the attention of these investors, the company must be able to show good company financial performance, because investors will only be interested in investing or buying shares in companies with good financial performance. The part that is most analyzed by investors to find out the condition of a company is through financial statements, because financial statements can describe the condition of a company whether or not the company's finances are good or not. Economic Value Added (EVA) is a measure to measure the performance of financial statements that best describes the company's Economic Profit when compared to other measures. In addition, Economic Value Added (EVA) is a measure that is closely related to the prosperity of shareholders over time. The application of Economic Value Added (EVA) in a company can also focus more on creating company value, this is one of the advantages of Economic Value Added (EVA). By using this approach, shareholders or investors can see how much added value the company achieves each year. The test results from this design process can be concluded that the web-based system of Financial Statement Performance Analysis Using the Economic Value Added Method in Go Public Companies can be used to analyze the company's financial condition in the positive (0), negative (0) or break-even (=0) categories. ) as a decision-making material for potential investors before investing in a company.

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Section: Pendahuluanunclassified

Analisis Kinerja Laporan Keuangan Menggunakan Metode Economic Value Added Pada Perusahaan Go Public

Safhira

Darwis²

2022

JIMASIA

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“…Market Value Added (MVA) adalah perbedaan antara nilai pasar ekuitas perusahaan pada periode tertentu dengan nilai ekuitas yang dipasok para inventory (Warsono, 2003:47). Metode ini dapat menggambarkan seberapa besar kemampuan perusahaan atas modal yang dimiliki investor karena melibatkan harga saham sebagai komponen utamanya (Gulo, 2011). Beberapa komponen yang diperlukan dalam menghitung nilai MVA antara lain adalah nilai pasar saham (kapitalisasi pasar), jumlah saham yang beredar, dan nilai buku ekuitas pemegang saham (stockholders' equity).…”

Section: Analisis Dan Perhitungan Market Value Added (Mva)unclassified

Analisis Economic Value Added (Eva) Dan Market Value Added (Mva) Sebagai Alat Ukur Kinerja Keuangan Pt Garuda Indonesia TBK Tahun 2017 -2019

Irawan

Manurung

2020

Jurnal Pajak dan Keuangan Negara

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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.

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“…If you pay attention, MVA calculation itself is more influenced by stakeholders related to the capital market (shareholders). MVA is the cumulative result of company performance generated by various investments that have been made or will be carried out (Gulo and Ermawati, 2011). However, what needs to be noted is that capital markets related to stakeholders have perceptions that are very dependent on the level of conformity of the company's activities with noncapital market stakeholders.…”

Section: Csr and Mva Relationshipmentioning

confidence: 99%

The reciprocal and nonlinearity relationship between corporate social responsibility and market value added: case study in Indonesia

Agustinus¹

2020

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PurposeThis study aims to examine the relationship between corporate social responsibility (CSR) and market value added (MVA) through a more comprehensive analysis of the relationship between the two variables.Design/methodology/approachThe population used in this study is all companies listed on the IDX. Sample selection is done by purposive sampling method where the criteria chosen in this research are: listed on the IDX during 2010–2016 and published its annual financial statements completely. The analysis tools using panel parametric regression are based on the reciprocal relationship (MVA related to CSR, and CSR related to MVA). This model should be linearity, based on RESET test. On the other hand, an alternative model is based on a nonlinearity relationship (the linearity of parametric regression is not fulfilled), the modified panel nonparametric regression (accommodates the reciprocal and nonlinearity relationship).FindingsSocial responsibility or CSR shows a positive relationship with MVA, also the MVA has a positive relationship with CSR. This means that when CSR value increases, then MVA also increases, vice versa. When the company discloses CSR, the company maintains good relationships not only with its shareholders but also with other stakeholders including the community and its environment. Therefore, it can enhance the company's perception and reputation to shareholders that the company is a responsible company, in the sense of being responsible not only to shareholders but also to other stakeholders. This then makes shareholders interested to invest their capital in companies with good CSR. Increased capital by shareholders in the form of stock purchases can affect the high or low stock price of a company; if the company price is high, then the higher the value of its MVA because the stock price is an element of MVA.Originality/valueBased on the aforementioned phenomenon, the relationship has the reciprocal characteristics, which means that CSR has a relationship with MVA; on the other hand, MVA also has a relationship with CSR (with a different time lag). Also, this study detects the nonlinearity relationship between variables shown in Fernandes and Fresly (2017). This part as the originality of this paper focused on the reciprocal and nonlinearity relationship between CSR and MVA.

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

Cited by 12 publications

References 0 publications

Analisis Kinerja Laporan Keuangan Menggunakan Metode Economic Value Added Pada Perusahaan Go Public

Analisis Kinerja Laporan Keuangan Menggunakan Metode Economic Value Added Pada Perusahaan Go Public

Analisis Economic Value Added (Eva) Dan Market Value Added (Mva) Sebagai Alat Ukur Kinerja Keuangan Pt Garuda Indonesia TBK Tahun 2017 -2019

The reciprocal and nonlinearity relationship between corporate social responsibility and market value added: case study in Indonesia

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