Economic Value Added (EVA) And Market Value Added (MVA) As Financial Performance Measurement Tools (Study Of Telecommunication Companies On The IDX 2018-2022)
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Published:
Feb 28, 2024
Keywords:
Economic Value Added, Market Value Added, Financial Performance
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Economy
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Abstract
Economic Value Added (EVA) and Market Value Added (MVA) are important for measuring financial performance based on value. The purpose of this study is to analyze and measure the financial performance of Telecommunication Companies listed on the IDX using the Economic Value Added and Market Value Added methods in 2018- 2022. The results showed that based on the analysis of the company's financial performance with the EVA method, the companies TLKM, ISAT, EXCL, TBIG, TOWR, BALI, LINK and IBST have an average positive value, which means that the company has succeeded in creating economic added value for the company. While the average FREN company shows a negative EVA value which explains that the company cannot provide economic added value to the company. In the analysis of the company's financial performance with MVA, the companies TLKM, ISAT, EXCL, TBIG, TOWR, BALI, LINK, and IBST for the period 2018 – 2022 produce positive values, so the management shows good performance and has been able to create and add wealth for shareholders and the company. Meanwhile, the FREN company during the 2018-2022 period shows a negative value where management is unable to create or increase wealth for shareholders
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How to Cite
Alvioni, O. and Prabawa, S. A. . (2024) “Economic Value Added (EVA) And Market Value Added (MVA) As Financial Performance Measurement Tools (Study Of Telecommunication Companies On The IDX 2018-2022)”, Jurnal Mantik, 7(4), pp. 3235-3242. doi: 10.35335/mantik.v7i4.4544.
References
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Aprillia, C. E. (2023). PENILAIAN KINERJA KEUANGAN MENGGUNAKAN PENDEKATAN ECONOMIC VALUE ADDED (EVA) DAN MARKET VALUE ADDED (MVA) PADA PT WASKITA BETON PRECAST Tbk PERIODE 2017-2021. Ekonomi Dan Bisnis, 2(1), 5–12. http://ejurnal.provisi.ac.id/index.php/JIMEB
BAKAR, A. (2010). Analisis Perbandingan Kinerja Perusahaan Telekomunikasi dengan Menggunakan EVA, REVA, FVA, dan MVA. Jurnal Rekayasa Institut Teknologi Nasional, XIV(1), 19–27.
Bani Zamzami, & Arya Andika Tanadinata. (2023). Analysis of Financial Performance Using Economic Value Added (Eva), Market Value Added (Mva), and Financial Value Added (Fva) Methods in Pt. Mayora Indah, Tbk Period 2019 – 2021. International Journal Management and Economic, 2(1), 46–53. https://doi.org/10.56127/ijme.v2i1.509
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Indah, C. I., & Rahyuda, H. (2017). Pengaruh Der, Roa, Per Dan Eva Terhadap Return Saham Pada Perusahaan Food and Beverage Di Bei. E-Jurnal Akuntansi Universitas Udayana, 5(3), 1429–1456.
J.H.vH. de Wet. (2012). No Title. Southern African Business Review, 16(3), 57–80.
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Krisdiyanti, C., & Sundarta, M. I. (2023). Analysis of Economic Value Added ( EVA ) and Market Value Added ( MVA ) Methods to Assess Financial Performance ( Sub-sector of Food and Beverage Companies Listed on the IDX for the 2017-2021 Period ). 2(1), 37–45.
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Mardiyanto, H. (2013). Analisis Pengaruh Nilai Tambah Ekomoni Dan Nilai Tambah Pasar Terhadap Harga Saham Pada Perusahaan Sektor Ritel Yang Listing Di Bei. Jurnal Ilmu Manajemen, 1(1), 297–306.
Puspita, V., Banaludin, I., & Umrie, R. (2015). Pengaruh Economic Value Added (Eva) Dan Market Value Added (Mva) Terhadap Harga Saham Pada Perusahaan Kelompok LQ-45 Di Bursa Efek Indonesia. Jembatan?: Jurnal Ilmiah Manajemen, 12(2), 97–110.
Rahayu, N. M. P. S., & Dana, I. M. (2016). Pengaruh EVA, MVA dan Likuiditas Terhadap Harga Saham Pada Perusahaan Food and Beverages. E-Jurnal Manajemen Unud, 5(1), 443–469.
Saladin, H., Lilianti, E., Kurbani, A., & Tritama, E. Y. (2023). Analisis Komparatif Kinerja Keuangan Dengan Menggunakan Metode Economic Value Added (EVA) Dan Metode Market Value Added (MVA) Pada Perusahaan Subsektor Batu Bara Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Media Wahana Ekonomika, 20(2), 269–284. https://doi.org/10.31851/jmwe.v20i2.12719
Saputra, W. E., Sukoco, A., Suyono, J., Ratnasahara, D., Narotama, U., Tinggi, S., Ekonomi, I., & Manajemen, D. (2019). Analisis Nilai Tambah Ekonomi dan Nilai Tambah Pasar Mengukur Kinerja Keuangan pada Perusahaan Pulp dan Kertas. 77–85.
Sartono, A. (2015). Manajemen Keuangan Teori Dan Aplikasi (Ke-4). Yogyakarta, BPFE Yogyakarta
Silvia, R., & Wangka, N. (2022). Economic Value Added and Market Value Added as A Measuring Tool for Financial Performance. International Journal of Social Science and Business, 6(1), 135–141. https://doi.org/10.23887/ijssb.v6i1.30371
Siregar, S. Y., Nengsih, T. A., Siregar, E. S., Islam, U., Sultan, N., Saifuddin, T., Islam, U., Sultan, N., Saifuddin, T., Islam, U., Sultan, N., & Saifuddin, T. (2022). 1) , 2) , 3). 2, 28–38.
Siska Ardiani, & Sriwardany. (2021). Analisis Perbandingan Economic Value Added dan Market Value Added dalam Penilaian Kinerja Keuangan pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia. Jurnal Multidisiplin Madani, 1(1), 31–40. https://doi.org/10.54259/mudima.v1i1.85
Sugiyono. (2018). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung: Afabeta.
SUNDARI, A., ROZI, A. F., BILGIES, A. F., & MUHAJIR, A. (2023). Financial Performance Analysis Using Economic Value Added and Market Value Added Methods. Journal of Tourism Economics and Policy, 3(1), 42–48. https://doi.org/10.38142/jtep.v3i1.546
Tarumidi, A., & Mirosea, N. (2023). an Empirical Analysis of Construction Companies Using Time Seriesapproach: Do Eva and Mva Indicate Financial Performance? Jurnal Ekonomi, 12(02), 119–129.
Yulyawati, S., Nurhayati, I., & Yudhawati, D. (2020). Analisis Economic Value Added (Eva) Dan Market Value Added (Mva Dalam Menilai Kinerja Keuangan Perusahaan Perusahaanasuransi Yang Go Public. Manager?: Jurnal Ilmu Manajemen, 3(3), 433. https://doi.org/10.32832/manager.v3i3.3912
Www.idx.com (Accessed on November 14, 2023
Ambarwati, J., & Suswardji, E. (2021). Analysis of Company Financial Perfomance With Economic Value Added (EVA) and Market Value Added (MVA) Methods. Audit Dan Sistem Informasi Akuntansi), 5(2), 245–252.
Aprillia, C. E. (2023). PENILAIAN KINERJA KEUANGAN MENGGUNAKAN PENDEKATAN ECONOMIC VALUE ADDED (EVA) DAN MARKET VALUE ADDED (MVA) PADA PT WASKITA BETON PRECAST Tbk PERIODE 2017-2021. Ekonomi Dan Bisnis, 2(1), 5–12. http://ejurnal.provisi.ac.id/index.php/JIMEB
BAKAR, A. (2010). Analisis Perbandingan Kinerja Perusahaan Telekomunikasi dengan Menggunakan EVA, REVA, FVA, dan MVA. Jurnal Rekayasa Institut Teknologi Nasional, XIV(1), 19–27.
Bani Zamzami, & Arya Andika Tanadinata. (2023). Analysis of Financial Performance Using Economic Value Added (Eva), Market Value Added (Mva), and Financial Value Added (Fva) Methods in Pt. Mayora Indah, Tbk Period 2019 – 2021. International Journal Management and Economic, 2(1), 46–53. https://doi.org/10.56127/ijme.v2i1.509
Crysdayanti, M. E. (2019). Analisis kinerja keuangan menggunakan metode economic value added (eva) dan market value added (mva) pada pt. Telekomunikasi indonesia (persero) tbk dan pt. Indosat tbk periode 2013-2017. Journal of Business & Banking, 7(2). https://doi.org/10.14414/jbb.v7i2.1272
E. Retno Maninggarjat, Ratna Wulaningrum, I. A. (2022). No Title. Jurnal Akuntansi, Keuangan Dan Perbankan, 1, 49–64.
Indah, C. I., & Rahyuda, H. (2017). Pengaruh Der, Roa, Per Dan Eva Terhadap Return Saham Pada Perusahaan Food and Beverage Di Bei. E-Jurnal Akuntansi Universitas Udayana, 5(3), 1429–1456.
J.H.vH. de Wet. (2012). No Title. Southern African Business Review, 16(3), 57–80.
Jayaprawira, A. R., Sulistyandari, & Alum Kusumah. (2022). Jakarta Islamic Index (JII) Financial Performance Analysis Using EVA and MVA Methods. International Journal of Islamic Business and Management Review, 2(1), 128–134. https://doi.org/10.54099/ijibmr.v2i1.153
Krisdiyanti, C., & Sundarta, M. I. (2023). Analysis of Economic Value Added ( EVA ) and Market Value Added ( MVA ) Methods to Assess Financial Performance ( Sub-sector of Food and Beverage Companies Listed on the IDX for the 2017-2021 Period ). 2(1), 37–45.
Longdong, N. G. F., & Tawas, H. N. (2021). N . G . F . Longdong ., H . N . Tawas . SEBAGAI ALAT PENGUKUR KINERJA KEUANGAN PADA PT INDOFOOD SUKSES MAKMUR TBK ANALYSIS OF ECONOMIC VALUE ADDED ( EVA ) AND MARKET VALUE ADDED ( MVA ) AS FINANCIAL PERFORMANCE MEASURING TOOLS ON PT INDOFOOD SUKSES MAKMUR. Jurnal EMBA, 9(4), 1153–1164.
Mardiyanto, H. (2013). Analisis Pengaruh Nilai Tambah Ekomoni Dan Nilai Tambah Pasar Terhadap Harga Saham Pada Perusahaan Sektor Ritel Yang Listing Di Bei. Jurnal Ilmu Manajemen, 1(1), 297–306.
Puspita, V., Banaludin, I., & Umrie, R. (2015). Pengaruh Economic Value Added (Eva) Dan Market Value Added (Mva) Terhadap Harga Saham Pada Perusahaan Kelompok LQ-45 Di Bursa Efek Indonesia. Jembatan?: Jurnal Ilmiah Manajemen, 12(2), 97–110.
Rahayu, N. M. P. S., & Dana, I. M. (2016). Pengaruh EVA, MVA dan Likuiditas Terhadap Harga Saham Pada Perusahaan Food and Beverages. E-Jurnal Manajemen Unud, 5(1), 443–469.
Saladin, H., Lilianti, E., Kurbani, A., & Tritama, E. Y. (2023). Analisis Komparatif Kinerja Keuangan Dengan Menggunakan Metode Economic Value Added (EVA) Dan Metode Market Value Added (MVA) Pada Perusahaan Subsektor Batu Bara Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Media Wahana Ekonomika, 20(2), 269–284. https://doi.org/10.31851/jmwe.v20i2.12719
Saputra, W. E., Sukoco, A., Suyono, J., Ratnasahara, D., Narotama, U., Tinggi, S., Ekonomi, I., & Manajemen, D. (2019). Analisis Nilai Tambah Ekonomi dan Nilai Tambah Pasar Mengukur Kinerja Keuangan pada Perusahaan Pulp dan Kertas. 77–85.
Sartono, A. (2015). Manajemen Keuangan Teori Dan Aplikasi (Ke-4). Yogyakarta, BPFE Yogyakarta
Silvia, R., & Wangka, N. (2022). Economic Value Added and Market Value Added as A Measuring Tool for Financial Performance. International Journal of Social Science and Business, 6(1), 135–141. https://doi.org/10.23887/ijssb.v6i1.30371
Siregar, S. Y., Nengsih, T. A., Siregar, E. S., Islam, U., Sultan, N., Saifuddin, T., Islam, U., Sultan, N., Saifuddin, T., Islam, U., Sultan, N., & Saifuddin, T. (2022). 1) , 2) , 3). 2, 28–38.
Siska Ardiani, & Sriwardany. (2021). Analisis Perbandingan Economic Value Added dan Market Value Added dalam Penilaian Kinerja Keuangan pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia. Jurnal Multidisiplin Madani, 1(1), 31–40. https://doi.org/10.54259/mudima.v1i1.85
Sugiyono. (2018). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung: Afabeta.
SUNDARI, A., ROZI, A. F., BILGIES, A. F., & MUHAJIR, A. (2023). Financial Performance Analysis Using Economic Value Added and Market Value Added Methods. Journal of Tourism Economics and Policy, 3(1), 42–48. https://doi.org/10.38142/jtep.v3i1.546
Tarumidi, A., & Mirosea, N. (2023). an Empirical Analysis of Construction Companies Using Time Seriesapproach: Do Eva and Mva Indicate Financial Performance? Jurnal Ekonomi, 12(02), 119–129.
Yulyawati, S., Nurhayati, I., & Yudhawati, D. (2020). Analisis Economic Value Added (Eva) Dan Market Value Added (Mva Dalam Menilai Kinerja Keuangan Perusahaan Perusahaanasuransi Yang Go Public. Manager?: Jurnal Ilmu Manajemen, 3(3), 433. https://doi.org/10.32832/manager.v3i3.3912
Www.idx.com (Accessed on November 14, 2023
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