ECONOMIC VALUE ADDED AND MARKET VALUE ADDED ON STOCK PRICE

Authors

  • Desy Astrid Anindya Medan University Area
  • Muhammad Habibie Medan University Area

Keywords:

Economic Value Added; Market Value Added; Price Share

Abstract

This study aims to determine the effect of economic value added and market value added on stock prices. This study uses secondary data, with the research object of mining sector companies listed on the Indonesia Stock Exchange for the 2018-2020 period. The sample of the observations in this study amounted to 60 which was carried out using a purposive sampling method and processed by multiple linear regression analysis. The results of this study indicate that economic value added has a positive and significant effect on stock prices and market value added has a positive and significant effect on stock prices.

Downloads

Download data is not yet available.

References

Alam, AB, HW (2017). Effect of Economic Value Added, Market Value Added, Return On Equity, and Total Asset Turn Over on Food and Beverage Stock Prices. Journal of Management Science and Research, 06(06).

Akerlof, G. (1970). The Market for Lemons: Quality Uncertainty and the Market Mechanism. Quarterly Journal of Economics, 84(03).

Alamsyah, N. (2017). Analysis of the Use of Economic Value Added Method to Assess Financial Performance at PT. Perkebunan Nusantara XIV Takalar Sugar Factory.

Alwi, Z. Iskandar. (2008). Capital Market Theory and Application. Jakarta: Foundation. Pancur Siwah

Anoraga, Pandji and Piji Pakarti. (2008). Introduction to Capital Markets. Jakarta: Rineka Cipta

Andika, WL, & Witiastuti, RS (2017). Analysis of Economic Value Added and Market Value Added as a measuring tool for company performance and their effect on stock prices. Management Analysis Journal, Vol. 6 No (3), 246-253.

Arenggaraya, K., & Djuwarsa, T. (2020). The Influence of Internal and External Factors on Stock Prices of Mining Sector Companies at ISSI. Journal of Applied Islamic Economics and Finance, 1(1), 200-213.

Central Bureau of Statistics (2021) Realization of State Revenue (Billion Rupiah), 2019-2021. Jakarta

Brigham and Gapenski. (1999). Intermediate Financial Management. New York: The Dryden Press

Brigham, Eugene F., and Joel F. Houston. (2001). Financial Management, 8th Edition. Jakarta: Erlangga

Brigham, FE and Houston, FJ (2006). Fundamentals of Financial Management (Translation of Ali Akbar Yulianto) tenth edition. Jakarta: Four Salemba.

Brigham and Houston. (2014). Fundamentals of Financial Management. Jakarta: Four Salemba.

Budiman, Raymond. (2018). Investing is Easy: Stock Investment Analysis Techniques and Strategies for Beginners. Jakarta: PT Gramedia.

Indonesia stock exchange. (2020). IDX Annual Statistics 2020. www.idx.co.id (accessed February 14, 2022)

Indonesia stock exchange. (2019). IDX Annual Statistics 2019. www.idx.co.id (accessed February 14, 2022)

Indonesia stock exchange. (2018). IDX Annual Statistics 2018. www.idx.co.id (accessed February 14, 2022)

Darmajdi, Tjiptono and Hendy MF (2012). Capital Market in Indonesia (Question and Answer Approach). Jakarta: Four Salemba.

Goddess, Mutia. (2017). Company Financial Performance Assessment Using EVA (Economic Value Added) Method (Case Study at PT. Krakatau Steel Tbk Period 2012-2016). Journal of Management and Finance, Vol. 6, No. 1: SamudraEko University, Didik, P. Z, and LA(2020). The difference in Share Price before and after Distribution

Dividends on Property and Real Estate Sector Companies listed on the Indonesia Stock Exchange for the Period 2014-20219. Interdisciplinary Journal on Law, Social Sciences and Humanities. Vol 1 (02): University of Jember

Fahmi, Irham. (2015). Financial Statement Analysis. Bandung: Alphabeta

Farah, Margaretha. (2007). Financial Management for the Service Industry. Jakarta: Gramedia Widiasarana Indonesia.

Gerald, Edsel Yermia Egam, Ilat Ventje, and Sonny Pangerapan. (2017). "The Influence of Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), and Earning Per Share (EPS) on the Share Prices of Companies Included in the LQ45 Index on the Indonesia Stock Exchange for the Period 2013-2015." EMBA Journal: Journal of Economic Research, Management, Business, And Accounting.

Ghozali, Imam. (2018). " Multivariate Analysis Application with IBM SPSS 25". Semarang: Diponegoro University Publishing Agency.

Gulo, W. Amonio & Ermawati W. Juwita. (2011). Analysis of Economic Value Added (EVA) and Market Value Added (MVA) as a Measuring Tool for PT SA's Financial Performance. Journal of Management and Organization Vol 2 (2): Bogor Agricultural University

Hanafi, Mamduh M. (2014). Financial Management (1st Edition). Yogyakarta, Indonesia: BPFE.

Hanafi, Mamduh and Abdul Halim. (2005). “Financial Report Analysis”, Yogyakarta

Handono, Mardiyano. (2009). Financial Management Digest. Jakarta: Gramedia Pustaka Utama

Hansen and Mowen. (2009). Managerial Accounting. Book 1 edition 8. Jakarta: Salemba Empat

Hartono, Jogiyanto. (2014) . " Business Research Methods". 6th Edition. Yogyakarta: Gadjah Mada University

Hermuningsih, S. (2013). Effect of Profitability, Growth Opportunity, Capital Structure on Firm Value in Public Companies in Indonesia. Journal of Bulletin of Monetary, Economics and Banking Vol 16 (2)

Harry. (2015). Financial Statement Analysis. Edition 1. Yogyakarta: Center For Academic Publishing Services

Husnan and Pudjiastuti. (2012). Fundamentals of Financial Management (6th ed ). Yogyakarta: UPP STIM YPKN

Hutapea, Albertha W. Ivonne S. Saerang. Joy E. Tulung. (2017). The Effect of Return On Assets, Net Profit Margin, Debt To Equity Ratio, and Total Assets Turnover on Stock Prices of the Automotive Industry and Components Listed on the Indonesia Stock Exchange. EMBA Journal. Vol 5

Indah Mustikowati, R. (2011). The Effect of Market Value Added on Stock Prices in Manufacturing Companies. Journal of Modernization Economics, Vol 7(1): https://ejournal.unikama.ac.id/index.php/JEKO/article/view/47

Irawan, F. and Manurung, NY (2020) "Analysis of Economic Value Added (Eva) and Market Value Added (MVA) as a Measuring Tool for Pt Garuda Indonesia Tbk's Financial Performance in 2017-2019", Journal of Taxes and State Finance (PKN), Vol 2(1)

Jogiyanto. (2008). Portfolio Theory and Investment Analysis. Fifth Edition. Jakarta: BPFE.

Kamaruddin, Ahmad. (2004). Fundamentals of Investment and Portfolio Management. Jakarta: PT Rineka Cipta.

Downloads

Published

2022-11-12

How to Cite

Desy Astrid Anindya, & Muhammad Habibie. (2022). ECONOMIC VALUE ADDED AND MARKET VALUE ADDED ON STOCK PRICE. Jurnal Ekonomi, 11(03), 376–383. Retrieved from https://www.ejournal.seaninstitute.or.id/index.php/Ekonomi/article/view/689