PENGARUH KINERJA KEUANGAN PERUSAHAAN TERHADAP HARGA SAHAM PADA PERUSAHAAN TEKSTIL YANG TERDAFTAR DI BEJ

DARMAWATI, RINI (2007) PENGARUH KINERJA KEUANGAN PERUSAHAAN TERHADAP HARGA SAHAM PADA PERUSAHAAN TEKSTIL YANG TERDAFTAR DI BEJ. Other thesis, University of Muhammadiyah Malang.

[img]
Preview
Text
PENGARUH_KINERJA_KEUANGAN_PERUSAHAANTERHADAP_HARGA_SAHAM_PADA_PERUSAHAAN_TEKSTILYANG_TERDAFTAR_DI_BEJ.pdf

Download (66kB) | Preview

Abstract

One of the tools to measure the financial performance of companies that are commonly used for this is the ratio of financial liquidity ratios, activity ratios and profitability ratios. Along with the development of capital markets, for the management of financial ratio analysis is not sufficient to determine the added value companies, while the donors (creditors and shareholders) do not have a belief whether the capital already invested in the future will provide the level of the expected results. To complete the analysis using financial ratios over the years, then developed the concept of Economic Value Added (EVA). EVA is a financial analysis tool to assess a reasonable level of profitability of the company's operations. EVA fairly consider the expectations of the capital cost funding through a weighted average of the company's capital structure. This study aims to determine if the company's financial performance is measured by using the concept of EVA, and the effect on stock prices. The study was conducted using a sample of textile companies listed on the JSE during the period 2003-2005. The results showed that the textile company's financial performance in the Jakarta Stock Exchange as measured by using the concept of Economic Value Added average decreased due to operating income can not cover the cost of capital and tax on the charge on the company, so that profits can not meet accepted hope funders. Regression analysis showed that EVA positive effect on stock prices, this is indicated by the value t count compared ttable value 2.00). The (6.323 indicates thatsignificant effect of EVA on stock prices investors are now using the information or the concept of value added EVA as a tool in decision-making, especially in investing in stocks. Direction indicates the higher the positive effect of the company is able to create value for shareholders , will make the company's stock price in the capital market so that demand will cause an increase on the price of these shares.

Item Type: Thesis (Other)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Economic > Department of Accounting
Depositing User: Zainul Afandi
Date Deposited: 08 May 2012 07:37
Last Modified: 08 May 2012 07:37
URI: http://eprints.umm.ac.id/id/eprint/4738

Actions (login required)

View Item View Item