Analisis Kinerja Keuangan Perusahaan Dengan Menggunakan Metode Roi, Eva Dan Mva : Studi Kasus Pada Pt Telkom Indonesia Tbk Periode Tahun 2009-2012  

Oleh:

Malau, Melinda

Jenis: Article from Journal - ilmiah nasional
Dalam koleksi: Jurnal Ekonomi: Analisis ilmiah ekonomi, manajemen, keuangan dan akuntansi vol. 1 no. 23 (May 2013), page 067-083.
Topik: Measuring of Performance; Return OnInvestment; Economic Value Added; Market Value Added
Fulltext: Jurnal_Ekonomi_XXIII_No.1-1_.pdf (2.48MB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ140 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Measuring of performance conducted by company to assess achievement of company’s management as tools to evaluate company performance in the past. Traditional method such asReturn on Investment (ROI) measures company performance based on eturn level for capital output, butthe weakness is not measuring capital. This method is difficult to determine company value. Stern Steward & Codeveloped the new method during 1989 to measure company performance which was known as Economic Value Added (EVA) and Market Value Added (MVA).The concept of EVA method is a measure of a company's financial performance based on the residual wealth calculated by deducting cost of capital from its operating profit. The concept of MVA is a calculation that shows the difference between the market value of a company and the capital contributed by investors. A high MVA indicates the company has created substantial wealth for the shareholders. A negative MVA means that the value of management's actions and investments are less than the value of the capital contributed to the company by the capital market. Input for calculating ROI, EVA and MVA arefinancial eporting, bond market value, interest rate of Central Bank, Beta stock valueand market risk premium. This analysis is used to compare the performance of PT Telkom Indonesia Tbkduring 2009-2012by ROI, EVA and MVA methods. So the company achievement can be assess and influencing factors detectable. ROI, EVA and MVA analysison PT Telkom Indonesia Tbk have different result.This condition because ROI and EVA method are flow measurement, but MVA method is stock measurement. ROI and EVA are measuring of performance based on internal factor and MVA based on internal and external factor.

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