Kinerja Keuangan Konvensional, Economic Value Added, dan Return Saham

Bambang Sudiyatno, Toto Suharmanto

Abstract

Penelitian ini bertujuan untuk menguji pengaruh kinerja keuangan konvensional; Return on Asset (ROA), Return on Equity (ROE), Residual Income (RI), dan kinerja keuangan yang lebih modern; Economic Value Added (EVA) terhadap return saham pada perusahaan-perusahaan dalam industry makanan dan minuman yang terdaftar di Bursa Efek Indonesia. Pengambilan sampel dalam penelitian ini menggunakan metode sensus, karena semua perusahaan dalam industry makanan dan minuman digunakan sebagai sampel. Namun dalam proses samplingnya mengunakan metode purposive sampling, yaitu menggunakan sampel dengan criteria-kriteria tertentu. Hasil penelitian menunjukkan bahwa Return on Asset (ROA) dan Residual Income (RI) berpengaruh positif dan secara statistik signifikan terhadap return saham pada level signifikansi 1%. Sedangkan Return on Equity (ROE) berpengaruh negative dan secara statistik signifikan terhadap return saham pada level signifikansi 10%, dan Economic Value Added (ERA) berpengaruh positif tetapi tidak signifikan terhadap return saham.


This study aims to test the effect of conventional financial performance i.e. Return on Asset (ROA), Return on Equity (ROE), Residual Income (RI), and the more modern financial performance which is Economic Value Added (EVA) toward stock returns on companies in the food and beverage industry listed in Indonesia Stock Exchange. Sampling technique in this study uses the census method, all companies in the food and beverage industry are used as a sample. The process of sampling using purposive sampling method. The result shows that Return On Asset (ROA) and Residual Income (RI) are positive and statistic significant impact on the stock returns at significance level 1%. While the Return on Equity (ROE) is negative and statistic significant impact on the stock returns at significance level 10%, Economic Value Added (EVA) is positive and statistic not significant impact on the stock returns.

Keywords

Return On Asset (ROA); Return On Equity (ROE); Residual Income (RI); Economic value added (EVA); Stock return

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References

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