Pengaruh Penilaian Kinerja dengan ROI dan EVA terhadap Return Saham pada Perusahaan yang Tergabung dalam Indeks LQ 45 di Bursa Efek Indonesia
Abstract: There have been many
investors who invest funds in certain companies. The purpose of the investment
is to obtain the expected stock return. Investors, in investing certainly needs
to look at whether the company will be turned into investment activity to
perform well or not, because only companies that have good performance that can
provide the expected stock return.
This research aims to determine the effect of performance appraisal with
the ROI and EVA on stock returns. Sampling using purposive sampling techniques,
the sample used is a company incorporated in the LQ 45 index with period of
August 2008 - January 2009 and not
included in the banking sector. This research uses secondary data, secondary
data is financial statements in 2006-2007 of companies that were visited in
this research. Analytical model used to test the hypothesis is Moderated
Regression Analysis. Analysis conducted with the help of SPSS program. The
results showed in partial ROI and EVA no effect on stock returns.
Simultaneously, ROI and EVA variables also have no effect on stock returns.
This is because stock prices are influenced by other factors beyond the
company's performance measurement, among other factors of global economic
conditions.
Key words: Stock return, ROI,
EVA, and Performance Measurement
Penulis: Harjono Sunardi
Kode Jurnal: jpakuntansidd1000099
