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Analisis Kinerja Keuangan Perusahaan dengan Menggunakan Pendekatan Economic Value Added (EVA) dan Market Value Added (MVA) pada Perusahaan Farmasi yang Go Public di Bursa Efek Indonesia Tahun 2008-2011 Weny Mey Eskasari; Harlen dro
Jurnal Ilmiah Mahasiswa FEB Vol 1, No 2: Semester Genap 2012/2013
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1007.521 KB)

Abstract

Better economic growth gives opportunity for business people to increase their profits. At the other side, it is also increase tight rivalry between businesses.  Good performance  management  is needed  in order  to  achieve  the company's goals  and to maximalize investor’s prosperity. This study uses descriptive quantitative method, which aims to determine the  company's financial performance  using  analysis tools  Economic Value Added  (EVA)  and Market  Value Added  (MVA)  in  pharmaceutical  companies,  namely  PT. Darya Varia Laboratories Tbk, PT. Kalbe Farma Tbk, PT. Merck Tbk, PT. Pyridam Farma Tbk,  and  PT.  Tempo  Scan  Pacific  Tbk.  The data used  in this study  is a  secondary data obtained from Pojok BEI Faculty of Economics and Business Universitas Brawijaya Malang. The result shows that during the four (4) years of the study, five pharmaceutical companies are producing positive EVA value. It means that management has succeeded in creating added value for its investors because it met the investors’s expectations to earn returns over the issuance of capital. While the MVA value shows diverse results. Positive result of MVA indicates that the management has been able to increase the wealth of its investors, while a negative value indicates that the MVA management has demolished the wealth of its investors. Keywords :  Financial Performance, Economic Value Added  (EVA), Market Value Added (MVA)
Analisis Kinerja Keuangan Perusahaan dengan Menggunakan Pendekatan Economic Value Added (EVA) dan Market Value Added (MVA) pada Perusahaan Farmasi yang Go Public di Bursa Efek Indonesia Tahun 2008-2011 Weny Mey Eskasari; Harlen dro
Jurnal Ilmiah Mahasiswa FEB Vol 1, No 2: Semester Genap 2012/2013
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1007.521 KB)

Abstract

Better economic growth gives opportunity for business people to increase their profits. At the other side, it is also increase tight rivalry between businesses.  Good performance  management  is needed  in order  to  achieve  the company's goals  and to maximalize investor’s prosperity. This study uses descriptive quantitative method, which aims to determine the  company's financial performance  using  analysis tools  Economic Value Added  (EVA)  and Market  Value Added  (MVA)  in  pharmaceutical  companies,  namely  PT. Darya Varia Laboratories Tbk, PT. Kalbe Farma Tbk, PT. Merck Tbk, PT. Pyridam Farma Tbk,  and  PT.  Tempo  Scan  Pacific  Tbk.  The data used  in this study  is a  secondary data obtained from Pojok BEI Faculty of Economics and Business Universitas Brawijaya Malang. The result shows that during the four (4) years of the study, five pharmaceutical companies are producing positive EVA value. It means that management has succeeded in creating added value for its investors because it met the investors’s expectations to earn returns over the issuance of capital. While the MVA value shows diverse results. Positive result of MVA indicates that the management has been able to increase the wealth of its investors, while a negative value indicates that the MVA management has demolished the wealth of its investors. Keywords :  Financial Performance, Economic Value Added  (EVA), Market Value Added (MVA)
PENGUMUMAN STOCK SPLIT TERHADAP TRADING VOLUME ACTIVITY DAN ABNORMAL RETURN ( STUDI PADA PERUSAHAAN REAL ESTATE DAN PROPERTI YANG LISTING DI BEI) Ferina Rusteliana; Harlen dro
Jurnal Ilmiah Mahasiswa FEB Vol 2, No 1: Semester Ganjil 2013/2014
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Stock split merupakan suatu aksi emiten dimana dilakukan pemecahan nilai nominal saham menjadi nilai nominal yang lebih kecil. Tujuan penelitian ini adalah mengetahui apakah terdapat reaksi pasar yang signifikan pada harga saham, abnormal return, dan trading volume activity antara periode seputar peristiwa stock split yaitu pada periode sebelum, saat, setelah stock split pada perusahaan real estate tahun 2010-2012. Penelitian ini merupakan suatu penelitian yang masuk ke dalam jenis penelitian event study. Event study adalah penelitian yang mempelajari reaksi pasar terhadap suatu peristiwa (event) yang informasinya dipublikasikan sebagai pengumuman. Reaksi pasar ini dapat dilihat dari harga saham dan trading volume activity Penelitian ini menggunakan sample sebanyak 5 perusahaan real estate yang melakukan kebijakan stock split pada tahun 2010-2012. Pengambilan sample menggunakan teknik purposive sampling sehingga sampel yang digunakan harus memenuhi kriteria-kriteria yang ditentukan. Uji hipotesis dalam penelitian ini menggunakan uji beda yaitu uji two tail test pada variabel harga saham, abnormal return dan trading volume activity Hasil penelitian ini menunjukkan bahwa secara mayoritas pasar tidak merespon adanya stock split, hal ini ditunjukkan oleh tidak adanya perbedaan yang signifikan pada harga saham, sedangkan pada abnormal return dan trading volume activity stock split memberikan reaksi.   Kata Kunci : Pengumuman, stock split, harga saham, abnormal return, dan trading volume activity
Analisis Kinerja Keuangan Perusahaan dengan Menggunakan Pendekatan Economic Value Added (EVA) dan Market Value Added (MVA) pada Perusahaan Farmasi yang Go Public di Bursa Efek Indonesia Tahun 2008-2011 Weny Mey Eskasari; Harlen dro
Jurnal Ilmiah Mahasiswa FEB Vol 1, No 2: Semester Genap 2012/2013
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1007.521 KB)

Abstract

Better economic growth gives opportunity for business people to increase their profits. At the other side, it is also increase tight rivalry between businesses.  Good performance  management  is needed  in order  to  achieve  the company's goals  and to maximalize investor’s prosperity. This study uses descriptive quantitative method, which aims to determine the  company's financial performance  using  analysis tools  Economic Value Added  (EVA)  and Market  Value Added  (MVA)  in  pharmaceutical  companies,  namely  PT. Darya Varia Laboratories Tbk, PT. Kalbe Farma Tbk, PT. Merck Tbk, PT. Pyridam Farma Tbk,  and  PT.  Tempo  Scan  Pacific  Tbk.  The data used  in this study  is a  secondary data obtained from Pojok BEI Faculty of Economics and Business Universitas Brawijaya Malang. The result shows that during the four (4) years of the study, five pharmaceutical companies are producing positive EVA value. It means that management has succeeded in creating added value for its investors because it met the investors’s expectations to earn returns over the issuance of capital. While the MVA value shows diverse results. Positive result of MVA indicates that the management has been able to increase the wealth of its investors, while a negative value indicates that the MVA management has demolished the wealth of its investors. Keywords :  Financial Performance, Economic Value Added  (EVA), Market Value Added (MVA)
Analisis Pengaruh Struktur Kepemilikan, Ukuran Perusahaan, Dan Keputusan Hutang Terhadap Kebijakan Dividen (Studi Pada Perusahaan Manufaktur yang Terdaftar Di BEI Periode 2009-2013) Ajeng Bintari Dwi Cahya Wati; Harlen dro
Jurnal Ilmiah Mahasiswa FEB Vol 3, No 2: Semester Genap 2014/2015
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh struktur kepemilikan, ukuran perusahaan serta keputusan hutang yang terhadap kebijakan dividen yang diukur menggunakan Dividend payout ratio (DPR). Penelitian ini menggunakan 55 sampel observasi dari populasi perusahaan yang tergolong perusahaan manufaktur dan terdaftar di BEI periode 2009 sampai 2013. Pengambilan sampel pada penelitian ini menggunakan teknik purposive sampling. Metode analisis menggunakan analisis regresi linier berganda. Penelitian ini menunjukkan bahwa struktur kepemilikan manajerial dan ukuran perusahaan memiliki pengaruh yang signifikan positif terhadap rasio pembayaran dividen. Penelitian ini juga menemukan bahwa kepemilikan institusional tidak berpengaruh signifikan terhadap rasio pembayaran dividen. Selain itu ditemukan pula bahwa keputusan hutang memiliki pengaruh yang signifikan negatif terhadap rasio pembayaran dividen. Kata Kunci: Kebijakan Dividen, Dividen Payout Ratio, Struktur Kepemilikan, Ukuran Perusahaan, Keputusan Hutang.
ANALISA KINERJA PADA PERBANKAN SWASTA YANG LISTING DI BEI (periode penelitian 2008-2012) Nadia Balqis Haidaroh; Harlen dro
Jurnal Ilmiah Mahasiswa FEB Vol 1, No 2: Semester Genap 2012/2013
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Penelitian ini merupakan penelitian deskriptif yang bertujuan untuk menggambarkan tingkat kesehatan Bank Umum Swasta Nasional (BUSN) Devisa yang terdaftar di Bursa Efek Indonesia (BEI) periode 2008-2012 dengan menggunakan metode CAMEL yang meliputi faktor permodalan (capital), kualitas aktiva (asset quality), manajemen (management), rentabilitas (earning), dan likuiditas (liquidity). Populasi dalam penelitian ini terdapat 32 (tiga puluh dua) BUSN Devisa, dimana bank devisa merupakan bank yang dalam kegiatan usahanya dapat melakukan transaksi dalam valuta asing. Berdasarkan kriteria yang telah dibuat terpilihlah 10 (sepuluh) bank yang menjadi sampel dalam penelitian ini, yaitu : PT. Bank Artha Graha, (Tbk), PT. Bank Bukopin, (Tbk), PT. Bank Central Asia, (Tbk), PT. Bank CIMB Niaga, (Tbk), PT. Bank Danamon, (Tbk), PT. Bank International Indonesia, (Tbk), PT. Bank Mega, (Tbk), PT. Bank PAN Indonesia, (Tbk), PT. Bank Permata, (Tbk), PT. Bank Tabungan Pensiunan Nasional, (Tbk). Rasio CAMEL yang digunakan untuk menganalisis tingkat kesehatan bank umum swasta terdiri dari 9 (Sembilan) rasio : capital adequacy ratio (CAR), kualitas aktiva produktif (KAP), non performing loan (NPL), net profit margin (NPM), return on asset (ROA), return on equity (ROE), rasio beban operasional terhadap pendapatan operasional (BOPO), net interest margin (NIM), dan loan to deposit ratio (LDR). Jenis data yang digunakan adalah data kuantitatif yang berupa laporan keuangan bank selama periode 2008-2012 yang terdiri atas : neraca, laporan laba-rugi, laporan kualitas aktiva produktif, dan laporan kecukupan pemenuhan modal minimum (KPMM). Berdasarkan hasil analisis deskriptif terhadap tingkat kesehatan bank dengan menggunakan 9 (Sembilan) rasio CAMEL, menunjukkan bahwa 10 (sepuluh) BUSN Devisa selama periode penelitian 2008-2012 secara umum memiliki tingkat kesehatan yang baik. Kata Kunci : Kesehatan BUSN Devisa, CAMEL, CAR, KAP, NPL, NPM, ROA, ROE, BOPO, NIM, LDR.
Analisa Rasio Keuangan untuk Menilai Kinerja Perusahaan Sektor Pertambangan yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2008-2011 Eka Cahya Rizki; Harlen dro
Jurnal Ilmiah Mahasiswa FEB Vol 1, No 2: Semester Genap 2012/2013
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Industry is one of sector that has an important role in the growth of a country. The development of an industry can not be separated from the industrial competition. Including the mining industry. Moreover, the mining industry is still an excellent source of income of the Indonesian. This study aims to investigate the performance of mining companies listed on the Indonesia Stock Exchange in the period 2008-2011 using financial ratio analysis and to find out which company has the better performance. Financial ratios used are liquidity ratio (CR & QR), leverage ratio (DER, LTDtER, LTDtAR, LTDtFAR, TIE), profitability ratios (ROA and ROE), and the ratio of growth (Sales & Net Income). The results showed that PT Mitra Investindo Tbk has liquidity, profitability, and growth better than Citatah Tbk PT. While in terms of leverage, Citatah Tbk PT has a better performance compared Tbk PT Mitra Investindo.   Keyword : Financial Ratio, Company Performance, Liquidity Ratio, Leverage Ratio, Profitability Ratio, Growth Ratio.
Analisis Kinerja Keuangan Perusahaan dengan Menggunakan Pendekatan Economic Value Added (EVA) dan Market Value Added (MVA) pada Perusahaan Farmasi yang Go Public di Bursa Efek Indonesia Tahun 2008-2011 Eskasari, Weny Mey; dro, Harlen
Jurnal Ilmiah Mahasiswa FEB Vol. 1 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Better economic growth gives opportunity for business people to increase their profits. At the other side, it is also increase tight rivalry between businesses.  Good performance  management  is needed  in order  to  achieve  the company's goals  and to maximalize investor’s prosperity. This study uses descriptive quantitative method, which aims to determine the  company's financial performance  using  analysis tools  Economic Value Added  (EVA)  and Market  Value Added  (MVA)  in  pharmaceutical  companies,  namely  PT. Darya Varia Laboratories Tbk, PT. Kalbe Farma Tbk, PT. Merck Tbk, PT. Pyridam Farma Tbk,  and  PT.  Tempo  Scan  Pacific  Tbk.  The data used  in this study  is a  secondary data obtained from Pojok BEI Faculty of Economics and Business Universitas Brawijaya Malang. The result shows that during the four (4) years of the study, five pharmaceutical companies are producing positive EVA value. It means that management has succeeded in creating added value for its investors because it met the investors’s expectations to earn returns over the issuance of capital. While the MVA value shows diverse results. Positive result of MVA indicates that the management has been able to increase the wealth of its investors, while a negative value indicates that the MVA management has demolished the wealth of its investors. Keywords :  Financial Performance, Economic Value Added  (EVA), Market Value Added (MVA)
Analisis Kinerja Keuangan Perusahaan dengan Menggunakan Pendekatan Economic Value Added (EVA) dan Market Value Added (MVA) pada Perusahaan Farmasi yang Go Public di Bursa Efek Indonesia Tahun 2008-2011 Eskasari, Weny Mey; dro, Harlen
Jurnal Ilmiah Mahasiswa FEB Vol. 1 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Better economic growth gives opportunity for business people to increase their profits. At the other side, it is also increase tight rivalry between businesses.  Good performance  management  is needed  in order  to  achieve  the company's goals  and to maximalize investor’s prosperity. This study uses descriptive quantitative method, which aims to determine the  company's financial performance  using  analysis tools  Economic Value Added  (EVA)  and Market  Value Added  (MVA)  in  pharmaceutical  companies,  namely  PT. Darya Varia Laboratories Tbk, PT. Kalbe Farma Tbk, PT. Merck Tbk, PT. Pyridam Farma Tbk,  and  PT.  Tempo  Scan  Pacific  Tbk.  The data used  in this study  is a  secondary data obtained from Pojok BEI Faculty of Economics and Business Universitas Brawijaya Malang. The result shows that during the four (4) years of the study, five pharmaceutical companies are producing positive EVA value. It means that management has succeeded in creating added value for its investors because it met the investors’s expectations to earn returns over the issuance of capital. While the MVA value shows diverse results. Positive result of MVA indicates that the management has been able to increase the wealth of its investors, while a negative value indicates that the MVA management has demolished the wealth of its investors. Keywords :  Financial Performance, Economic Value Added  (EVA), Market Value Added (MVA)
Analisis Kinerja Keuangan Perusahaan dengan Menggunakan Pendekatan Economic Value Added (EVA) dan Market Value Added (MVA) pada Perusahaan Farmasi yang Go Public di Bursa Efek Indonesia Tahun 2008-2011 Eskasari, Weny Mey; dro, Harlen
Jurnal Ilmiah Mahasiswa FEB Vol. 1 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Better economic growth gives opportunity for business people to increase their profits. At the other side, it is also increase tight rivalry between businesses.  Good performance  management  is needed  in order  to  achieve  the company's goals  and to maximalize investor’s prosperity. This study uses descriptive quantitative method, which aims to determine the  company's financial performance  using  analysis tools  Economic Value Added  (EVA)  and Market  Value Added  (MVA)  in  pharmaceutical  companies,  namely  PT. Darya Varia Laboratories Tbk, PT. Kalbe Farma Tbk, PT. Merck Tbk, PT. Pyridam Farma Tbk,  and  PT.  Tempo  Scan  Pacific  Tbk.  The data used  in this study  is a  secondary data obtained from Pojok BEI Faculty of Economics and Business Universitas Brawijaya Malang. The result shows that during the four (4) years of the study, five pharmaceutical companies are producing positive EVA value. It means that management has succeeded in creating added value for its investors because it met the investors’s expectations to earn returns over the issuance of capital. While the MVA value shows diverse results. Positive result of MVA indicates that the management has been able to increase the wealth of its investors, while a negative value indicates that the MVA management has demolished the wealth of its investors. Keywords :  Financial Performance, Economic Value Added  (EVA), Market Value Added (MVA)