ANALISIS PENGARUH ECONOMIC VALUE ADDED DAN PENERAPAN GOOD CORPORATE GOVERNANCE TERHADAP RETURN SAHAM PADA PERUSAHAAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX (JII)

INAYAH, INAYAH (2008) ANALISIS PENGARUH ECONOMIC VALUE ADDED DAN PENERAPAN GOOD CORPORATE GOVERNANCE TERHADAP RETURN SAHAM PADA PERUSAHAAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX (JII). Skripsi thesis, Universitas Muhammadiyah Surakarta.

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Abstract

Aim of investor who makes investment in stock exchange is to maximize return or profit level, so main goal of a company is to maximize stockholders wealth. Increased wealth of stockholders is directed to making of company’s value that can be measured by the increase of stock exchange value. A company should understand activities that can create value continuously so that it will maximize wealth of stockholders. In order to achieve the goal, various management concepts and techniques are applied in managing a company. Economic Value Added and Good Corporate Governance are very suitable to evaluate economic operational performance of a company and to pay attention to creditor and stockholder hopes. Purpose of the research is to analysis effect of EVA (X1t) and application of GCG that measured by using Corporate Governance Index/CGI (X2t) on stock return (Yt) and to know which measurement is having significant effect on stock return of companies registered in JII of 2005-2007. Quantitative data of the research is secondary data that obtained from sample of 10 companies. The research uses analysis instruments that consist of multiple linear regression, ttest, F-test, determination coefficient, and classic assumption test. Result of data analysis indicated that: (1) tcalculation of EVA variable value (2,770) was greater than ttable (2,045). It means alternative hypothesis of the research is accepted, so partially EVA has positive influence on stock return. While, tcalculation of CGI variable (-2,734) was lower than ttable (-2,045), so partially CGI has negative influence on stock return. (2) Fcalculation value of EVA and CGI (5,670) > Ftable (3,32) with significance value of 0,009 < 0,05, so it means EVA and CGI had significant influence to the stock return simultaneously. (3) Determination coefficient (R2) was 0,296 (29,6%), it means effect that EVA and CGI to the stock return is 29,6%, whereas the rest of 70,4% is affected by other variables than that of the research model.

Item Type: Thesis (Skripsi)
Uncontrolled Keywords: Economic Value Added, Good Corporate Governance, and stock return
Subjects: H Social Sciences > HJ Public Finance
Divisions: Fakultas Ekonomi dan Bisnis > Manajemen
Depositing User: Ari Fatmawati
Date Deposited: 23 Dec 2009 03:13
Last Modified: 15 Nov 2010 20:50
URI: http://eprints.ums.ac.id/id/eprint/5437

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