ANALISIS PENGARUH LABA, NILAI BUKU EKUITAS, ARUS KAS, DAN ECONOMIC VALUE ADDED (EVA) TERHADAP MARKET VALUE ADDED (MVA) PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI
Daftar Isi:
- This research purposed to examine the effect of earning, book of value equity, cash flow, and EVA towards MVA. This research is important because the concept of MVA is the benchmark of cumulative performance of a company that reflected the estimation of capital market about NPV’s projects of a company, that happened in the past or in the future. MVA reflected how far the new investment success in the future (Endri, 2005). This research hypothesis are: First, earning; book of value equity; cash flow; and EVA have positive effects and significant toward MVA. Second, value relevance of earning; book of value equity; and cash flow toward MVA are higher than the relevance of EVA towards MVA. This research used manufactur’s company as sample (company in the same industry)in BEI with period research is years 2004-2006. The result of this research are: First, earning; book of value equity; and cash flowhave positively effects towards MVA, meanwhile EVA have negatively effects toward MVA. Statistically, the effects of earning, book of value equity, cash flow and EVA towards MVA not significant (reject Ha1). Second, value relevance of earning; cash flow; and book of value equity towards MVA is lower than the relevanceof EVA towards MVA not significant (reject Ha2).