BANGUN, SWASTAWAN VERNANDO (2012) ANALISA PENGARUH LEVERAGE, ROE DAN EVA TERHADAP RETURN SAHAM LQ45. S2 thesis, Universitas Mercu Buana Jakarta-Menteng.
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Abstract
This research have objectives to determine the influence of Leverage Ratio which represent by Debt to Equity Ratio, Return on Equity and Economic Value Added to stock return. With using population of LQ 45 index and the observation period from 2006 – 2010 which excluded financial sector this research have 150 numbers of sample. Analysis technique used to test the hypothesis is Moderated Regression Analysis. The result of research shows, that only Economic Value Added (EVA) variable has a significant influence to stock return in statistically while Debt to Equity Ratio (DER) and Return on Equity (ROE) has not have significant influence. The result explained that EVA measures the company’s value added generated (value creation) by subtracting the cost of capital arising from investment, and prove that the value of positive EVA illustrates that management has succeeded in creating added value for the shareholders, which generated returns that exceed the rate of cost of capital on the investment made. Key words: Debt to Equity Ratio (DER), Return on Equity (ROE), Economic Value Added (EVA), value creation, cost of capital, stock return. Penelitian ini bertujuan untuk mengkaji pengaruh dari rasio pengungkit (leverage ratio) yang diwakili oleh Debt to Equity Ratio (DER), Return on Equity (ROE) dan Economic Value Added (EVA) terhadap return saham. Menggunakan populasi dari indeks LQ45 dan periode tahun pengamatan 2006 – 2010 tidak termasuk sektor perbankan/lembaga keuangan, penelitian ini memiliki 150 sampel pengamatan. Teknik analisa yang digunakan dalam menguji hipotesis adalah Moderated Regression Analysis. Hasil penelitian menunjukkan, bahwa secara statistik variabel Economic Value Added (EVA) mempunyai pengaruh yang signifikan terhadap return saham sementara Debt to Equity Ratio (DER) dan Return on Equity (ROE) tidak mempunyai pengaruh yang signifikan. Lebih jauh hasil penelitian ini telah menjelaskan bahwa EVA mengukur nilai tambah yang dihasilkan perusahaan (penciptaan nilai) dengan mengurangkan biaya modal dari investasi, dan membuktikan bahwa nilai EVA yang positif adalah menggambarkan keberhasilan manajemen dalam menciptakan nilai tambah bagi para pemegang saham, dengan menghasilkan tingkat pengembalian yang melebebihi dari biaya modal dalam investasinya. Kata kunci: Debt to Equity Ratio (DER), Return on Equity (ROE), Economic Value Added (EVA), penciptaan nilai, biaya modal, return saham.
| Item Type: | Thesis (S2) |
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| Call Number CD: | CDT-551-12-001 |
| NIM/NIDN Creators: | 55110110008 |
| Uncontrolled Keywords: | Debt to Equity Ratio (DER), Return on Equity (ROE), Economic Value Added (EVA), value creation, cost of capital, stock return, Debt to Equity Ratio (DER), Return on Equity (ROE), Economic Value Added (EVA), penciptaan nilai, biaya modal, return saham. mku, manajemen keuangan |
| Subjects: | 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 658 General Management/Manajemen Umum |
| Divisions: | Pascasarjana > Magister Manajemen |
| Depositing User: | ORYZA LUVITA |
| Date Deposited: | 28 Apr 2022 02:40 |
| Last Modified: | 12 Jul 2022 02:22 |
| URI: | http://repository.mercubuana.ac.id/id/eprint/60599 |
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