Pengaruh economic value added (EVA) terhadap market value added (MVA)

ERYANNAWANTI, Sumiyana, Drs.,M.Si.

2010 | Skripsi | S1 Extention - Accounting

Penelitian ini bertujuan untuk menguji kekuatan hubungan Economic Value Added (EVA) dengan Market Value Added (MVA). EVA merupakan pengukur kinerja keuangan yang dapat menciptakan kekayaan bagi pemegang saham. Sedangkan MVA atau nilai tambah pasar merupakan kekayaan pemegang saham yang dapat diciptakan oleh perusahaan. Menurut teori keuangan, terdapat ekuivalensi antara EVA dan MVA.

Populasi penelitian meliputi semua perusahaan yang terdaftar di Bursa Efek Indonesia. Sampel penelitian adalah perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia antara periode 2005 sampai dengan 2007. Metode pemilihan sampel dengan menggunakan purposive sampling. Pengujian statistik menggunakan uji F dan uji t dengan analisis regresi linear berganda.

Hasil pengujian mendukung bahwa Economic Value Added (EVA) berpengaruh positif terhadap Market Value Added (MVA). Hasil penelitian sesuai dengan teori keuangan yang menyatakan bahwa EVA merupakan pengukur kinerja keuangan terbaik yang dapat menciptakan kekayaan bagi pemegang saham.

The objective of this research is to examine the strength of the relationship between Economic Value Added (EVA) and Market Value Added (MVA). EVA is financial performance measure which is able to create the wealth for shareholder. MVA is shareholder's wealth which is created by company. Based on financial theory, there is equivalency between EVA and MVA.

The populations of this research are all companies which are listed in the Indonesia Stock Exchange, while the sample of this research is non financial company which is listed in the Indonesia Stock Exchange for 2005-2007 periods. The method's of selection samples by using purposive sampling. Statistic test are using F test and t test with multiple regression analysis.

The result of this test support that Economic Value Added (EVA) has positive relation with Market Value Added (MVA). This result appropriates with the financial theory state that EVA is the best financial measure performance company which is create the wealth for shareholder.

Kata Kunci : Economic Value Added, Market Value Added, performance, kinerja