PENGARUH EVA, RETENTION RATIO, DAN PROPORSI DEWAN KOMISARIS INDEPENDEN TERHADAP HARGA SAHAM
(Studi pada Perusahaan Sektor Industri Barang Konsumsi yang Terdaftar di Bursa Efek Indonesia Periode 2016-2019)
Abstract
ABSTRACT
The purpose of this study is to test and determine the influence of economic value added (EVA), retention ratio, and proportion of independent board of commissioners on share price in consumer goods industry sector companies listed in IDX period 2016-2019. This research uses quantitative method with data retrieval technique using purposive sampling. The population in this study was a consumer goods industry sector company registered in the IDX in the period 2016-2019 as many as 16 companies with observation time for 4 (four) years to get 64 observations. The analytical technique used for hypothetical testing in this study was the analysis of data regression panel using the help of eviews 10 software. Based on the research of t test results, it is partially stated that economic value added (EVA) and retention ratio have a significant effect on the share price, on the contrary the proportion of the independent board of commissioners has no significant effect on the share price. Based on the research of F test results, it simultaneously states that economic value added (EVA), retention ratio, and proportion of independent board of commissioners have a significant influence on the share price.
Keywords: EVA, retention ratio, proportion of independent board of commissioners, share price
References
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Agnatia, V., & Amalia, D. (2018). Pengaruh Economic Value Added dan Rasio Profitabilitas terhadap Harga Saham. Journal of Applied Managerial Accounting, 2(2), 290-303 ISSN: 2548-9917.
Alam, A. B., & Oetomo, H. W. (2017). Pengaruh EVA, MVA, ROE dan TATO terhadap Harga Saham Food and Beverage. Jurnal Ilmu Dan Riset Manajemen, 6(6).
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Ansofino, Jolianis, Yolamalinda, & Arfilindo, H. (2016). Buku Ajar Ekonometrika. Yogyakarta: Deepublish.
Aravind, M., & Ramya, K. (2015). Relationship between EVA (Economic Value Added) and Share Prices of Select Companies in BSE-Sensex-An Empirical Study. Journal of Commerce and Accounting Research, 4(3dan4).
Azis, M., Mintarti, S., & Nadir, M. (2015). Manajemen Investasi Fundamental, Teknikal, Perilaku Investor dan Return Saham, (Ed.1, Cet.1). Yogyakarta: Deepublish.
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Karamoy, H., & Tulung, J. E. (2020). The Effect of Financial Performance and Corporate Governance to Stock Price in Non-Bank Financial Industry. Corporate Ownership and Control, 17(2), 97–103.
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Kusuma, D. I. (2018). Pengaruh Rasio Keuangan, Economic Value Added, dan Market Value Added terhadap Harga Saham. Jurnal Kajian Bisnis, 26(1), 29–47.
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Pongkorung, A., Tommy, P., & Tulung, joy E. (2018). Pengaruh Profitablitas dan Struktur Kepemilikan terhadap Harga Saham Industri Keuangan Non Bank yang Terdaftar Di BEI Tahun 2012-2016. Jurnal EMBA, 6(4), 3048–3057.
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.
Ratno. (2019). Pengaruh Economic Value Added (EVA), Total Assets Turnover (TATO), dan Return on Equity terhadap Harga Saham pada Bursa Efek Indonesia (BEI) yang Tercantum dalam Indeks LQ45. Katalogis, 7(1), 92–110.
Sharif, I., Ali, A., & Jan, F. A. (2017). Effect of Dividend Policy on Stock Prices. Journal of Management Info, 4(1), 19–28.
Sunardi, N. (2020). Penilaian Kinerja Keuangan menggunakan Economic Value Added (EVA) dan Market Value Added (MVA) dengan Time Series Approach pada Industri Semen di Indonesia. JIMF (Jurnal Ilmiah Manajemen Forkamma), 3(2), 184–194.
Tamrin, M., & Maddatuang, B. (2019). Penerapan Konsep Good Corporate Governance dalam Industri Manufaktur di Indonesia. Bogor: IPB Press Printing.
Telesphore, H., & Patrick, M. (2018). Effect of Corporate Dividend Policy on Performance of Stock Prices in Rwanda Stock Exchange . Case Study of Bank of Kigali as Listed on Rwanda Stock Exchange ( 2011-2016 ). International Journal of Research in Management, 08(05), 183–193.
Ulum, B. (2017). Pengaruh Penerapan Good Corporate Governance Dan Kinerja Keuangan Terhadap Harga Saham Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2012 - 2014. GEMA Ekonomi, Vol. 06(02), 125–137.
Widasari, E., & Arizkia, E. (2017). Pengaruh Earning Per Share (EPS) dan Economic Value Added (EVA) terhadap Harga Saham pada Perusahaan Sektor Aneka Industri yang Terdaftar di BEI. Jurnal Studia Akuntansi Dan Bisnis, 5(3), 131–142.
Wijaya, D. (2017). Manajemen Keuangan Konsep dan Penerapannya. Jakarta: Grasindo.
Wijaya, I. G. O., & Suarjaya, A. A. G. (2017). Pengaruh EVA, ROE dan DPR terhadap Harga Saham Perusahaan Manufaktur di BEI. E-Jurnal Manajemen Unud, 6(9), 5175–5204.
Zulkarnaen, W., Fitriani, I., & Yuningsih, N. (2020). Pengembangan Supply Chain Management Dalam Pengelolaan Distribusi Logistik Pemilu Yang Lebih Tepat Jenis, Tepat Jumlah Dan Tepat Waktu Berbasis Human Resources Competency Development Di KPU Jawa Barat. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(2), 222-243. https://doi.org/10.31955/mea.vol4.iss2.pp222-243.
www.idx.co.id
Agnatia, V., & Amalia, D. (2018). Pengaruh Economic Value Added dan Rasio Profitabilitas terhadap Harga Saham. Journal of Applied Managerial Accounting, 2(2), 290-303 ISSN: 2548-9917.
Alam, A. B., & Oetomo, H. W. (2017). Pengaruh EVA, MVA, ROE dan TATO terhadap Harga Saham Food and Beverage. Jurnal Ilmu Dan Riset Manajemen, 6(6).
Alhamda, S. (2018). Buku Ajar Metlit dan Statistik (Ed.1, Cet.1). Yogyakarta: Deepublish.
Ansofino, Jolianis, Yolamalinda, & Arfilindo, H. (2016). Buku Ajar Ekonometrika. Yogyakarta: Deepublish.
Aravind, M., & Ramya, K. (2015). Relationship between EVA (Economic Value Added) and Share Prices of Select Companies in BSE-Sensex-An Empirical Study. Journal of Commerce and Accounting Research, 4(3dan4).
Azis, M., Mintarti, S., & Nadir, M. (2015). Manajemen Investasi Fundamental, Teknikal, Perilaku Investor dan Return Saham, (Ed.1, Cet.1). Yogyakarta: Deepublish.
Basuki, A. T., & Prawoto, N. (2016). Analisis Regresi: Dalam Penelitian Ekonomi dan Bisnis (Dilengkapi Aplikasi SPSS dan Eviews). Jakarta: RajaGrafindo Persada.
Bhuana, K. W. (2019). Pengaruh Net Profit Margin dan EVA terhadap Harga Saham pada Perusahaan Konstruksi yang Terdaftar di BEI Periode 2014-2018. Jurnal Online Insan Akuntan, 4(2), 269–284.
Bilal, Z. O., & Jamil, S. A. (2015). Does Dividend Policy Impact Stock Market Prices? - Evidence from Oman. International Journal of Applied Business and Economic Research, 13(9), 6873–6883.
Booklet Informasi Industri 2020. (2020). Retrieved from https://kemenperin.go.id/
Brigham, E. F., & Houston, J. F. (2015). Fundamentals of Financial Management, Concise 8th Edition. South Western: Cengage Learning.
Febiolla, D., Mulyani, W. T., & Andreas, H. H. (2019). Pengaruh Tingkat Kesehatan Perbankan terhadap Harga Saham Perusahaan Perbankan di Bei Tahun 2008-2017. Perspektif Akuntansi, 2(3), 211–236.
Hasnati. (2014). Komisaris Independen dan Komite Audit Organ Perusahaan yang Berperan untuk Mewujudkan Good Corporate Governance di Indonesia. Yogyakarta: Absolute Media.
Iftikhar, A. B., Raja, N.-U.-D. J., & Sehran, K. N. (2017). Impact of Dividend Policy on Stock Prices of Firm. International Scientific Journal Theoretical & Applied Science, 47(03), 32–37.
Ikbar, M. M., & Dewi, A. S. (2015). The Analysis of Effect of Economic Value Added ( EVA ) and Market Value Added ( MVA ) on Share Price of Subsector Companies of Property Incorporated in LQ45 Indonesia Stock Exchange in Period of 2009-2013. International Journal of Science and Research (IJSR), 4(4), 2310–2314.
Islam, M. A. (2019). Dividend Policy and Share Price: Evidence from Some Selected Pharmaceutical and Chemical Companies in Bangladesh. International Journal of Research in Engineering, Science and Management, 2(4), 177–181.
Junaeni, I. (2017). Pengaruh EVA, ROA, DER dan TATO terhadap Harga Saham pada Perusahaan Makanan dan Minuman di BEI. (Owner) Riset & Jurnal Akuntansi, 2(1), 32–47.
Karamoy, H., & Tulung, J. E. (2020). The Effect of Financial Performance and Corporate Governance to Stock Price in Non-Bank Financial Industry. Corporate Ownership and Control, 17(2), 97–103.
Kemala, D., & Farida, L. (2017). Pengaruh Economic Value Added terhadap Harga Saham Perusahaan Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia ( Bei ) Periode 2010 – 2014. Jom FISIP, 4(1).
Kusuma, D. I. (2018). Pengaruh Rasio Keuangan, Economic Value Added, dan Market Value Added terhadap Harga Saham. Jurnal Kajian Bisnis, 26(1), 29–47.
Leon, M., & Putri, F. (2018). Interest Rate dan Political Connection pada Harga Saham. Jurnal Riset Bisnis, 2(1), 1–12.
Nurulrahmatiah, N., Pratiwi, A., & Nurhayati. (2020). Pengaruh Good Corporate Governance dan Kinerja Keuangan Terhadap Harga Saham Perusahaan Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2011-2018. Coopetition: Jurnal Ilmiah Manajemen, X1(2).
Pernamasari, R., Purwaningsih, S., Tanjung, J., & Rahayu, D. P. (2019). Good Corporate Governance and Prediction of Financial Distress to Stock Prices: Atman Z Score Approach. International Journal of Economics and Management Studies, 6(11), 56–62.
Pongkorung, A., Tommy, P., & Tulung, joy E. (2018). Pengaruh Profitablitas dan Struktur Kepemilikan terhadap Harga Saham Industri Keuangan Non Bank yang Terdaftar Di BEI Tahun 2012-2016. Jurnal EMBA, 6(4), 3048–3057.
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.
Ratno. (2019). Pengaruh Economic Value Added (EVA), Total Assets Turnover (TATO), dan Return on Equity terhadap Harga Saham pada Bursa Efek Indonesia (BEI) yang Tercantum dalam Indeks LQ45. Katalogis, 7(1), 92–110.
Sharif, I., Ali, A., & Jan, F. A. (2017). Effect of Dividend Policy on Stock Prices. Journal of Management Info, 4(1), 19–28.
Sunardi, N. (2020). Penilaian Kinerja Keuangan menggunakan Economic Value Added (EVA) dan Market Value Added (MVA) dengan Time Series Approach pada Industri Semen di Indonesia. JIMF (Jurnal Ilmiah Manajemen Forkamma), 3(2), 184–194.
Tamrin, M., & Maddatuang, B. (2019). Penerapan Konsep Good Corporate Governance dalam Industri Manufaktur di Indonesia. Bogor: IPB Press Printing.
Telesphore, H., & Patrick, M. (2018). Effect of Corporate Dividend Policy on Performance of Stock Prices in Rwanda Stock Exchange . Case Study of Bank of Kigali as Listed on Rwanda Stock Exchange ( 2011-2016 ). International Journal of Research in Management, 08(05), 183–193.
Ulum, B. (2017). Pengaruh Penerapan Good Corporate Governance Dan Kinerja Keuangan Terhadap Harga Saham Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2012 - 2014. GEMA Ekonomi, Vol. 06(02), 125–137.
Widasari, E., & Arizkia, E. (2017). Pengaruh Earning Per Share (EPS) dan Economic Value Added (EVA) terhadap Harga Saham pada Perusahaan Sektor Aneka Industri yang Terdaftar di BEI. Jurnal Studia Akuntansi Dan Bisnis, 5(3), 131–142.
Wijaya, D. (2017). Manajemen Keuangan Konsep dan Penerapannya. Jakarta: Grasindo.
Wijaya, I. G. O., & Suarjaya, A. A. G. (2017). Pengaruh EVA, ROE dan DPR terhadap Harga Saham Perusahaan Manufaktur di BEI. E-Jurnal Manajemen Unud, 6(9), 5175–5204.
Zulkarnaen, W., Fitriani, I., & Yuningsih, N. (2020). Pengembangan Supply Chain Management Dalam Pengelolaan Distribusi Logistik Pemilu Yang Lebih Tepat Jenis, Tepat Jumlah Dan Tepat Waktu Berbasis Human Resources Competency Development Di KPU Jawa Barat. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(2), 222-243. https://doi.org/10.31955/mea.vol4.iss2.pp222-243.
www.idx.co.id
Published
2021-03-16
How to Cite
Safira, I., & Dillak, V. (2021). PENGARUH EVA, RETENTION RATIO, DAN PROPORSI DEWAN KOMISARIS INDEPENDEN TERHADAP HARGA SAHAM. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 5(1), 1000-1018. https://doi.org/10.31955/mea.v5i1.897
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