PENILAIAN KINERJA KEUANGAN PERUSAHAAN DENGAN METODE ECONOMIC VALUE ADDED(Studi pada Perusahaan Otomotif dan Komponennya yang Tercatat pada Bursa Efek Indonesia)

Achmad, Taufik (2010) PENILAIAN KINERJA KEUANGAN PERUSAHAAN DENGAN METODE ECONOMIC VALUE ADDED(Studi pada Perusahaan Otomotif dan Komponennya yang Tercatat pada Bursa Efek Indonesia). Other thesis, University of Muhammadiyah Malang.

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Abstract

This research is the nature of research on the company's case study Automotive and components with the title "Company Financial Performance Appraisal Methods With Economic Value Added (Study in Automotive Company and its components are recorded on the Indonesia Stock Exchange)". The company's financial performance assessment can be made from the financial reports presented by the company, one of the methods that can be used with the method of Economic Value Added (EVA). EVA method has many advantages compared with other methods can be applied among all divisions in a company and taking into account the cost of capital in the assessment. The purpose of this research is to determine whether the Company's financial performance Automotive and components listed in the Exchange can provide a healthy and economic added value, and which companies have the best financial performance in terms of Economic Value Added (EVA). This research is done by evaluating the company's financial statements in the year 2006-2008 derived from the corner of the Indonesia Stock Exchange (IDX) Muhammadiyah University of Malang. In this study, the sample companies were chosen based on the consideration and automotive components company whose shares are actively traded on the Stock Exchange and has the most complete financial statements for the years 2006 to 2008. The calculation of EVA is conceptually operating profit after tax minus the cost of capital. If the result of positive EVA calculation reflects the income level higher than the level of capital costs incurred, this means that management can create value-added companies. EVA is negative while the level of income reflects the lower than the level of capital costs incurred, this means not going value added company. From the analysis had been done by using EVA, obtained that Tbk PT Astra Otoparts in 2006 for producing EVA -Rp.158.822.729.769,00; in the year 2007 for Rp.117.704.694.168,00; and 2008 registration -Rp.54.557.397.933,00. PT Goodyear Indonesia Tbk in the year of 2006 to produce EVA -Rp.7.636.131.597,00; year 2007 registration -Rp.82.196.571.643,00; year 2008 registration -Rp.272.521.591.145,00. PT Tbk Indospring year of 2006 to produce EVA -Rp.27.070.995.587,00; year 2007 registration-Rp.28.628.358.985, 00; and 2008 registration -Rp.157.388.354.934,00. From the analysis, it can be concluded that the three financial performance and its components Automotive Company in 2006 and 2008 are not healthy, it can be seen from the values of negative EVA means that companies can not add value to investors. In 2007 there was one of three companies which have a positive EVA of PT Astra Otoparts Tbk, which means the company can be said to be healthy and provide added value for investors. In 2006, PT Goodyear Indonesia Tbk EVA has the best value from two other companies, although its value is still negative. In 2007, PT Astra Otoparts EVA Tbk has the best value from the two companies and has a positive EVA values. In the year 2008, PT Astra Otoparts EVA Tbk has the best value, although the negative value.

Item Type: Thesis (Other)
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Economic > Department of Management
Depositing User: Rayi Tegar Pamungkas
Date Deposited: 02 Apr 2012 03:22
Last Modified: 02 Apr 2012 03:22
URI: http://eprints.umm.ac.id/id/eprint/1529

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