PENGARUH ECONOMIC VALUE ADDED (EVA) DAN RETURN ON INVESTMENT (ROI) TERHADAP RETURN SAHAM PADA PERUSAHAAN FARMASI YANG GO PUBLIC DI BURSA EFEK JAKARTA

YENI PRIMAHAPSARI

Abstract


As for research type used by research kuantitatif type having the character of eksplanatory that is research type relying on data which is ranked among by a effort explain relation usher hypothesis examination variable is so that obtained interpretation from result test the hypothesis. This research take a title with : ??The Influence Economic Value Added (EVA) dan Return On Investment (ROI) To Stock Return At Pharmacy Company Which Go Public In Jakarta Stock Exchange??. Period which used in this research take on 1999 ? 2002.
Intention of this research is to test influence of among EVA and ROI to stock return and to know significansy influence EVA to stock return than ROI. Based on the background of this research and the theory, the writer take two hypothesis, there are : EVA and ROI have an influence to stock return and EVA has a dominan influence to stock return than ROI. Analysis technique used is calculate EVA, ROI and stock return and also test classic assumption, while its hypothesis examination done with F test and t test.
Result of research which have been done to be expressed that EVA obtained by a pharmacy company in the year 1999 - 2002, mean own value which are positive which is the possibility of because of some factor, like investor knowledge, economic condition, social and political and also circumstance capital market of itself which start goodness. While result ROI obtained by a mean pharmacy company tend to positive caused by the increasing of company ability in managing existing asset to yield profit. Result from classic assumption test indicate that not there are autokorelasi, heterokedastisitas and also multikolinieritas, while result analyse correlation indicate that among independent variable ( EVA And ROI) with dependent variable (stock return) there are relation. As for value of coefficient determinasi ( R2) is equal to 0,409 meaning the level of influence of among EVA and ROI to stock return is equal to 40,90% and the rest of equal to 50,10% explained by other dissimilar variable which is not studied in this research. Pursuant to result of examination by stimultan with F test seen that EVA and ROI have an effect on to stock return by Faccount( 10,026) > Ftable ( 3,32). If tested by parsial with t test seen that having an effect on by parsial is variable of EVA because taccount ( 4,106) > ttable ( 1,697) and to result of t test of variable ROI, obtained by taccount (- 1,445) < ttable ( 1,697) meaning ROI do not have an effect on signifikan by parsial to stock return.
Based on the result of this research can taked by implication are to investor, the result of this research can be indication to doing investment by seeing the result of company performance based on EVA and ROI, but its not close the possibility to view the other variable like circumstance capital market, kurs fluctuation, and so on, cause R2 have more small up to 50%.
Keyword : Economic Value Added (EVA), Return On Investment (ROI), Return Saham, Faccount, Ftable, taccount, t table.

 

Keyword : RETURN SAHAM

 

Link Terkait : http://skripsi.umm.ac.id/files/disk1/31/jiptummpp-gdl-s1-2004-yeniprimah-1532-Pendahul-n.pdf


Keywords


RETURN SAHAM