PENGARUH ECONOMIC VALUE ADDED (EVA) DAN KOMPONEN-KOMPONEN EVA TERHADAP IMBAL HASIL SAHAM PADA INDUSTRI BARANG KONSUMSI DI BURSA EFEK INDONESIA - Yusbardini, Yusbardini (Lembaga Penelitian dan Pengabdian Kepada Masyarakat, Universitas Tarumanagara, 2018)
This study aims to prove whether EVA components can explain stock returns both partially and simultaneously. Research was conducted on consumer goods industry at Indonesia Stock Exchanges in Jakarta and through the internet to retrieve research data. The time period of research object taken is from the 2005-2009 financial year. Sampling method is purposive sampling. This study uses regression that is tested with a statistical approach, namely overall (f-Statistics), partial test (t-Statistic) and Beta or Standardized Coefficient testing. The results of the analysis of the EVA components, namely Cost of Capital (CC), After Tax Interest (ATI), Accrual (ACC), Accounting Adjudication (AccAdj) and Cash Flow Operation (CFO) together (multivariate) can be significant, while partially, only ACC significantly affects stock returns. EVA partially does not affect stock returns. Keywords: EVA, stock returns, EVA components, Cost of Capital, After Tax Interest, Accounting Adjustment Penelitian ini bertujuan untuk membuktikan apakah komponen-komponen EVA dapat menjelaskan imbal hasil saham baik secara parsial maupun simultan.Penelitian dilakukan pada industri barang konsumsi di Bursa Effek Indonesia di Jakarta dan melalui internet untuk mengambil data penelitian.Kurun waktu dari obyek penelitian yang diambil adalah tahun buku 2005-2009. Penarikan sampel bersifat purposif sampling.Penelitian ini menggunakan regresi yang diuji dengan pendekatan statistic yaitu keseluruhan (f-Statistic), uji parsial (t-Statistic) dan pengujian Beta atau Standardized Coefficient. Hasil analisis terhadap komponen EVA yaitu Capital Carge ( CC), After Tax Interest (ATI), Accrual (ACC), Accounting Adjusment (AccAdj) dan Arus Cash Operasi (CFO) secara bersama (multivariate) dapat signifikan Sedangkan secara parsial hanya ACC yang signifikan mempengaruhi imbal hasil saham. EVA secara parsial tidak berpengaruh terhadap imbal hasil saham.Kata kunci: EVA, imbal hasil saham, komponen EVA