Hubungan antara economic value added (EVA) dan return on Asset (ROA) dengan return saham: studi pada perusahaan yang termasuk dalam peringkat 100 perusahaan penghasil EVA terbaik (SWA 100) periode 2002-2005 versi majalah SWA
Wibowo, Tomi (Pemb : Taufikur Rahman, SE.,MBA.,Ak), Taufikur Rahman, SE.,MBA.,Ak
2013 | Skripsi | S1 Accounting-
The purpose of this research is to compare the correlation between Economic Value Added (EVA) and Return On Asset (ROA) to stock return. EVA is a new method to asses company's performance. EVA is out of measure of company performance that used by considering the cost of capital invested. EVA is expected to imply an important information for the investor.
This research is using multiple linear regression to analyze data sample on 44 companies included the best 100 value creators (SWA100) period 2002¬2005 SWA magazine version. The method of determination sample used by purposive sampling. Data in this research collected from SWA magazine, Indonesian Capital Market Directory (ICMD), and Indonesian Securities Market Database (ISMD).
The result shows that the ROA measure has a better relationship with the stock return compared to EVA. EVA was also found statistically not significant in explaining the rate of stock return with p value 0,894. While the correlation between ROA and stock return is significant with p value 0,01. The result of multiple regression shows negative correlation between EVA and stock return, which is not consistent with theory.
Kata Kunci : Economic Value Added, return on asset, stock return, cost of capital
