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Journal : International Journal of Economics Development Research (IJEDR)

Economic Analysis of Initial Returns: The Impact of Stock Price, Offering Value, and Firm Age at Bank BCA (2020–2023) Tarigan, Agnes Silvia Br; Barasa, Putriani; Sitepu, Calvin Frenares; Najmi, Hendra; Dewi, Sri Puspa
International Journal of Economics Development Research (IJEDR) Vol. 6 No. 2 (2025): International Journal of Economics Development Research (IJEDR)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ijedr.v6i2.7554

Abstract

Banking stocks have consistently delivered substantial profits for investors, particularly throughout 2023. According to data from the Financial Services Authority (OJK) in 2020, Indonesian banking assets reached IDR 9,333 trillion, equivalent to 59.5% of the country’s Gross Domestic Product (GDP), highlighting the sector's significant role in national economic growth. Furthermore, Kontan (2023) reported that Bank Central Asia (BCA) was among the top-performing banking issuers, achieving a total stock return of 12.60% in 2023. This study aims to analyze the economic and financial factors—specifically the quantity of stock prices, stock offering values, and company age—that influence initial stock returns. Using a multiple linear regression model, the findings reveal that the quantity of stock prices has a significant negative effect on initial returns. In contrast, the stock offering value and the age of the company do not exhibit a significant individual impact. However, collectively, these variables—representing key economic indicators—have a significant joint effect on the initial return of Bank BCA. The study contributes to the broader understanding of how financial metrics and firm characteristics affect investment performance in the banking sector, especially in emerging markets like Indonesia.
Comparative Analysis of Financial Ratio and Economic Value Added (EVA) Methods in Evaluating the Financial Performance and Economic Value of Manufacturing Companies in Indonesia Sitinjak, Carlos Yosef; Siallagan, Frendo; Simanihuruk, Sopia; Dewi, Sri Puspa
International Journal of Economics Development Research (IJEDR) Vol. 6 No. 4 (2025): International Journal of Economics Development Research (IJEDR)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ijedr.v6i4.8354

Abstract

This study presents a comparative analysis between financial ratio methods—including liquidity, leverage, activity, and profitability ratios—and the Economic Value Added (EVA) method in evaluating the financial and economic performance of companies listed on the Indonesia Stock Exchange, specifically PT Indofood Sukses Makmur Tbk, PT Unilever Tbk, and PT Mayora Indah Tbk. The objective is to assess and compare the financial health of these companies using both traditional financial ratios and the EVA approach. The results indicate that the financial ratios for liquidity, leverage, activity, and profitability are positive, reflecting strong financial performance and suggesting that these companies are operating efficiently and sustainably. Meanwhile, the EVA calculations reveal a positive economic value, indicating that each company has successfully generated returns above its cost of capital, although the magnitude of value added varies across periods. Based on these findings, while all three companies demonstrate positive financial and economic value, further improvements in asset and capital management are recommended to enhance sales and profitability over time.