PENGUKURAN KINERJA KEUANGAN DENGAN MENGGUNAKAN ANALISIS ECONOMIC VALUE ADDED (EVA)PADA PERUSAHAAN TELEKOMUNIKASI YANG LISTING DI BEJ

Rahmawati, Nur Aida (2008) PENGUKURAN KINERJA KEUANGAN DENGAN MENGGUNAKAN ANALISIS ECONOMIC VALUE ADDED (EVA)PADA PERUSAHAAN TELEKOMUNIKASI YANG LISTING DI BEJ. Other thesis, University of Muhammadiyah Malang.

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Abstract

This is a descriptive qualitative research which is described a condition of a sample based on the amount inside. This research aims to know the financial performance of Telecommunication Company listed in Jakarta Stock Exchange on 2002-2006 by using Economic Value Added (EVA) analysis. Economic Value Added is a concept of measuring financial performance from Stern and Stewart. The basis formula of EVA is earning after tax minus cost of capital. If EVA>0 it means good performance, EVA=0 means equal, and EVA<0 means there was no value added of the company. This research shows that there were two Telecommunication Company listed in Jakarta Stock Exchange along 2002-2006 have negative EVA, they were PT. Indonesia Satelit Corporation and PT. Infosia Teknologi Global, whereas PT. Telekomunikasi Indonesia always has positive EVA (EVA>0) in five years. Based on cross section, PT. Telekomunikasi Indonesia has EVA more than average of industries; it means that PT. Telekomunikasi Indonesia is a company with good financial performance. The EVA negative caused companies had to paid high cost of capital which is higher than earning after tax or NOPAT. It means that companies had not able yet to complete the expectation of the Funding such as; getting paid of their infestations. The conclusion of this research shows that a company with earning in its financial statement did not mean they have positive EVA. It means that the earning have not enough yet to complete the cost of capital.

Item Type: Thesis (Other)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Economic > Department of Accounting
Depositing User: Anggit Aldila
Date Deposited: 13 Jun 2012 03:17
Last Modified: 13 Jun 2012 03:17
URI: http://eprints.umm.ac.id/id/eprint/7504

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