PENERAPAN ECONOMIC VALUE ADDED SEBAGAI ALAT UNTUK MENGUKUR KINERJA KEUANGAN PADA PT. BANK CENTRAL ASIA DAN PT. BANK PAN INDONESIA YANG LISTING DI BURSA EFEK JAKARTA

IRWANTO, ANDI (2007) PENERAPAN ECONOMIC VALUE ADDED SEBAGAI ALAT UNTUK MENGUKUR KINERJA KEUANGAN PADA PT. BANK CENTRAL ASIA DAN PT. BANK PAN INDONESIA YANG LISTING DI BURSA EFEK JAKARTA. Other thesis, University of Muhammadiyah Malang.

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Abstract

title "Application of Economic Value Added as a Tool for Measuring Financial Performance in PT. Bank Central Asia and PT. Bank PAN Indonesia, the Jakarta Stock Exchange Listings. " The purpose of this study was to measure the financial performance of companies using EVA analysis and whether it will generate economic added value for the company. Economic Value Added is a financial performance measurement concept put forward by Stern Stewart and Co.. EVA basic formula is the operating profit after tax less the total cost of capital. Benchmark used is when EVA> 0 means that the performance of either company, if EVA = 0 is to show the position of break even and if EVA <0 indicating no economic value-added into the company. Results of analysis using the concept of EVA for PT. Bank Central Asia and PT. Bank PAN Indonesia over the past five years show a different value. To PT. Bank Central Asia - average growth showed a negative value that is equal to -131.32%, while for the PT. Bank PAN Indonesia shows the value of 0.67%. From the results - average growth of EVA for both companies during the five periods in cross section can be known that. Bank PAN Indonesia has a value - average EVA is higher than the PT. Bank Central Asia so that it can be concluded that the PT. Bank PAN Indonesia is a company with the best financial performance. EVA negative results indicate that during the study period the company management failed to provide economic value-added services to businesses and EVA positive result indicates there has been economic value-added process for the company. In addition, although not necessarily profit to grow its EVA will also rise, as this is highly dependent on capital structure and capital cost of each component. Based on the conclusion of the authors to imply that companies should use the concept of Economic Value Added in assessing the company's financial performance because when viewed from the side of profit, provider or party fund - related parties will be fooled, because high profits do not guarantee there added value to the company. In addition, management needs to improve the effectiveness and cost efficiency in order to avoid a negative EVA.

Item Type: Thesis (Other)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Economic > Department of Accounting
Depositing User: Zainul Afandi
Date Deposited: 12 Jun 2012 04:54
Last Modified: 12 Jun 2012 04:54
URI: http://eprints.umm.ac.id/id/eprint/7300

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