DAFTAR PEMILIHAN SAMPEL
NO
. Nama Perusahaan Kode
Kriteria Penentuan
Sampel Sampel
1 2 3 4
1. Akasha Wira International Tbk. ADES √ √ √ ×
2. Tiga Pilar Sejahtera Food Tbk. AISA √ √ √ ×
3. Cahaya Kalbar Tbk. CEKA √ √ √ ×
4. Davomas Abadi Tbk. DAVO √ √ √ ×
5. Delta Jakarta Tbk. DLTA √ √ √ √ Sampel 1
6. Indofood CBP Sukses Makmur Tbk. ICBP √ √ √ ×
7. Indofood Sukses Makmur Tbk. INDF √ √ √ √ Sampel 2
8. Mayora Indah Tbk. MYOR √ √ √ ×
9. Multi Bintang Indonesia Tbk. MLBI √ √ √ √ Sampel 3
10. Nippon Indosari Corpindo Tbk. ROTI √ √ √ ×
11. Prasidha Aneka Niaga Tbk. PSDN √ √ √ ×
12. Sekar Laut Tbk. SKLT √ √ √ ×
13. Siantar Top Tbk. STTP √ √ √ ×
14. Ultra Jaya Milk Tbk. ULTJ √ √ √ ×
15. Darya-Varia Laboratoria Tbk. DVLA √ √ √ √ Sampel 4
16. Indofarma (Persero) Tbk. INAF √ √ √ ×
17. Kalbe Farma Tbk. KLBF √ √ √ √ Sampel 5
18. Kimia Farma (Persero) Tbk. KAEF √ √ √ √ Sampel 6
19. Merck Tbk. MERK √ √ √ ×
20. Pyridam Farma Tbk. PYFA √ √ √ ×
21. Schering Plough Indonesia Tbk. SCPI √ √ √ ×
22. Taisho Pharmaceutical Indonesia Tbk. SQBI √ √ √ ×
23. Tempo Scan Pacific Tbk. TSPC √ √ √ √ Sampel 7
24. Gudang Garam Tbk. GGRM √ √ √ √ Sampel 8
25. Hanjaya Mandala Sampoerna Tbk. HMSP √ √ √ √ Sampel 9
26. Bantoel International Investama Tbk. RMBA √ √ √ ×
27. Kedaung Setia Industrial Tbk. KDSI √ √ √ ×
28. Kedaung Indag Can Tbk. KICI √ √ √ ×
29. Langgeng Makmur Industry Tbk. LMPI √ √ √ ×
30. Martina Berto Tbk. MBTO √ √ √ ×
31. Mustika Ratu Tbk. MRAT √ √ √ √ Sampel 10
32. Mandom Indonesia Tbk. TCID √ √ √ √ Sampel 11
33. Unilever Indonesia Tbk. UNVR √ √ √ √ Sampel 12
35. Holcim Indonesia Tbk. SMCB √ √ √ ×
36. Semen Gresik Tbk. SMGR √ √ √ √ Sampel 14
37. Asahimas Flat Glass Tbk. AMFG √ √ √ √ Sampel 15
38. Arwana Citra Mulia Tbk. ARNA √ √ √ √ Sampel 16
39. Inti Keramik Alam Asri Industri Tbk. IKAI √ √ √ ×
40. Keramika Indonesia Assosiasi Tbk. KIAS √ √ √ ×
41. Mulia Industrindo Tbk. MLIA √ √ √ ×
42. Surya Toto Indonesia Tbk. TOTO √ √ √ ×
43. Alaska Industrindo Tbk. ALKA √ √ √ ×
44. Alumindo Light Metal Industry Tbk. ALMI √ √ √ ×
45. Beton Jaya Manunggal Tbk. BTON √ √ √ ×
46. Citra Turbindo Tbk. CTBN √ √ √ ×
47. Gunawan Dianjaya Steel Tbk. GDST √ √ √ ×
48. Indal Aluminium Industry Tbk. INAI √ √ √ ×
49. Itamaraya Tbk. ITMA √ √ √ ×
50. Jakarta Kyoei Steel Work LTD Tbk. JKSW √ √ √ ×
51. Jaya Pari Steel Tbk. JPRS √ √ √ ×
52. Krakatau Steel Tbk. KRAS √ √ √ ×
53. Lion Metal Works Tbk. LION √ √ √ √ Sampel 17
54. Lionmesh Prima Tbk. LMSH √ √ √ √ Sampel 18
55. Hanson International Tbk. MYRX √ √ √ ×
56. Pelat Timah Nusantara Tbk. NIKL √ √ √ ×
57. Pelangi Indah Canindo Tbk. PICO √ √ √ ×
58. Tembaga Mulia Semanan Tbk. TBMS √ √ √ √ Sampel 19
59. Barito Pasific Tbk. BRPT √ √ √ ×
60. Budi Acid Jaya Tbk. BUDI √ √ √ ×
61. Duta Pertiwi Nusantara Tbk. DPNS √ √ √ ×
62. Ekadharma International Tbk. EKAD √ √ √ √ Sampel 20
63. Eterindo Wahanatama Tbk. ETWA √ √ √ ×
64. Intan Wijaya International Tbk. INCI √ √ √ ×
65. Sorini Agro Asia Corporindo Tbk. SOBI √ √ √ ×
66. Indo Acitama Tbk. SRSN √ √ √ ×
67. Chandra Asri Petrochemical. TPIA √ √ √ ×
68. Unggul Indah Cahaya Tbk. UNIC √ √ √ ×
69. Alam Karya Unggul Tbk. AKKU √ √ √ ×
70. Argha Karya Prima Industry Tbk. AKPI √ √ √ ×
71. Asiaplast Industries Tbk APLI √ √ √ ×
72. Berlina Tbk. BRNA √ √ √ ×
73. Titan Kimia Nusantara Tbk. FPNI √ √ √ ×
74. Champion Pasific Indonesia Tbk. IGAR √ √ √ ×
75. Indopoly Swakarsa Industry Tbk. IPOL √ √ √ ×
78. Trias Sentosa Tbk. TRST √ √ √ ×
79. Yana Prima Hasta Persada Tbk. YPAS √ √ √ ×
80. Charoen Pokphand Indonesia Tbk. CPIN √ √ √ √ Sampel 21
81. Japfa Comfeed Indonesia Tbk. JPFA √ √ √ √ Sampel 22
82. Malindo Feedmill Tbk. MAIN √ √ √ ×
83. Siearad Produce Tbk. SIPD √ √ √ ×
84. Sumalindo Lestari Jaya Tbk. SULI √ √ √ ×
85. Tirta Mahakam Resources Tbk. TIRT √ √ √ ×
86. Alkindo Naratama Tbk. ALDO √ √ √ ×
87. Fajar Surya Wisesa Tbk. FASW √ √ √ √ Sampel 23
88. Indah Kiat Pulp & paper Tbk. INKP √ √ √ ×
89. Toba Pulp Lestari Tbk. INRU √ √ √ ×
90. Kertas Basuki Rachmat Indonesia Tbk. KBRI √ √ √ ×
91. Surabaya Agung Industri Pulp &
Kertas Tbk. SAIP √ √ √ ×
92. Suparma Tbk. SPMA √ √ √ ×
93. Pabrik Kertas Tjiwi Kimia Tbk. TKIM √ √ √ ×
94. Astra International Tbk. ASII √ √ √ √ Sampel 24
95. Astra Auto Part Tbk. AUTO √ √ √ √ Sampel 25
96. Indo Kordsa Tbk. BRAM √ √ √ √ Sampel 26
97. Goodyear Indonesia Tbk. GDYR √ √ √ √ Sampel 27
98. Gajah Tunggal Tbk. GJTL √ √ √ √ Sampel 28
99. Indomobil Sukses International Tbk. IMAS √ √ √ ×
100 Indospring Tbk. INDS √ √ √ ×
101 Multi Prima Sejahtera Tbk. LPIN √ √ √ ×
102 Multistrada Arah Sarana Tbk. MASA √ √ √ √ Sampel 29
103 Nipress Tbk. NIPS √ √ √ ×
104 Prima alloy steel Universal Tbk. PRAS √ √ √ ×
105 Selamat Sempurna Tbk. SMSM √ √ √ √ Sampel 30
106 Polychem Indonesia Tbk. ADMG √ √ √ ×
107 Argo Pantes Tbk. ARGO √ √ √ ×
108 Centex Tbk – Saham Seri B. CNTB √ √ √ ×
109 Centex Tbk. CNTX √ √ √ ×
110 Eratex Djaya Tbk. ERTX √ √ √ ×
111 Ever Shine Textile Industry Tbk. ESTI √ √ √ ×
112 Pan Asia Indosyntec Tbk. HDTX √ √ √ ×
113 Indo Rama Synthetic Tbk. INDR √ √ √ ×
114 Karwell Indonesia Tbk. KARW √ √ √ ×
115 Apac Citra Centertex Tbk. MYTX √ √ √ ×
116 Pan Asia Filament Inti Tbk. PAFI √ √ √ ×
118 Asia Pasific Fibers Tbk. POLY √ √ √ ×
119 Ricky Putra Globalindo Tbk. RICY √ √ √ ×
120 Sunson Textile Manufacturer Tbk. SSTM √ √ √ ×
121 Nusantara Inti Corpora Tbk. UNIT √ √ √ ×
122 Unitex Tbk. UNTX √ √ √ ×
123 Primarindo Asia Infrastructure Tbk. BIMA √ √ √ ×
124 Surya Intrindo Makmur Tbk. SIMM √ √ √ ×
125 Sumi Indo Kabel Tbk. IKBI √ √ √ ×
126 Jembo Cable Company Tbk. JECC √ √ √ ×
127 KMI Wire and Cable Tbk. KBLI √ √ √ ×
128 Kabelindo Murni Tbk. KBLM √ √ √ ×
129 Supreme Cable Manufacturing and
Commerce Tbk. SCCO √ √ √ √ Sampel 31
130 Voksel Electric Tbk. VOKS √ √ √ ×
Economic Value Added
(EVA)
2009-2011
(dalam Rupiah penuh)
No. Nama
Perusahaan (Kode)
2009 2010 2011
1 DLTA 2716735400 21342983100 23676697900
2 INDF 1545648360000 1453645031000 1845970464000
3 MLBI 332441164900 264718457800 282463906700
4 DVLA 22174375190 29083672120 23572319010
5 KLBF 898456583900 238864870300 3307172808100
6 KAEF 30799250900 52795812520 47741406850
7 TSPC 81751737950 112765298200 167099892600
8 GGRM 1257519749000 1235736881000 1890942842000 9 HMSP 2104045821000 3106848855000 3615671634000
10 MRAT 2942553082 3601584036 6296132897
11 TCID 12815233880 16964277520 5425913800
12 UNVR 1506163688000 1781683183000 2613381890000
13 INTP 452098294200 263104411400 302142776000
14 SMGR 618824113500 639546687800 635755997000
15 AMFG 14289706880 50887390800 37707096000
16 ARNA 40141649920 80378481390 41003331090
17 LION 5995018094 6720913550 8937628030
19 TBMS 52165899630 9292595144 23866812360
20 EKAD 6623986995 12914446880 12165873660
21 CPIN 672405644000 541609175000 470070657000
22 JPFA 341767660500 399378982400 454472015100
23 FSAW 230942442500 172111873700 142196293100
24 ASII 9879228688000 6067200000000 7196740250000
25 AUTO 193471150300 322046675700 355319239800
26 BRAM 19762551790 23955619200 9760547381
27 GDYR 52752607980 49381597700 18640854400
28 GJTL 170724784000 417540099900 417217145600
29 MASA 94858116200 75979647900 144250894300
30 SMSM 61544070620 55372112610 74853629050
Market Value Added
(MVA)
2009-2011
(dalam Rupiah penuh)
No.
Nama
Perusahaan
(Kode)
2009
2010
2011
1 DLTA -3613181000 343986819000 95486819000
2 INDF 37859557000000 28927707000000 16808957000000 3 MLBI 14330000000000 4378130000000 122530000000 4 DVLA -267760000000 -263620000000 -276550000000 5 KLBF 5162799279000 29496199280000 11167799280000
6 KAEF -403635000000 -328507000000 -68180000000
7 TSPC -33740000000 383760000000 160050000000
8 GGRM 6063256000000 15237956000000 19638556000000
9 HMSP -240700000000 -16050000000 -165300000000
10 MRAT 254995000000 547100000000 225500000000
11 TCID -43833333500 -64533333500 -85133333500
12 UNVR 5614450000000 8421200000000 10395300000000 13 INTP 16325584150000 15225884150000 16232384150000 14 SMGR 10829998000000 36989498000000 23085448000000
16 ARNA -33955887200 -46237887200 137817112800
17 LION -51932000000 -51636000000 -50966000000
18 LMSH -9576000000 -9168000000 -8100000000
19 TBMS -18172000000 -17647000000 -18131000000
20 EKAD 45799000000 24324000000 334381250000
21 CPIN 3375022000000 3276820000000 11628770000000
22 JPFA -354278000000 2747422000000 796222000000
23 FSAW -1154144394000 -727194393500 -377069393500 24 ASII 50650600000000 67036300000000 7189000000000
25 AUTO -264829000000 116621000000 80221000000
26 BRAM -224942000000 -224040000000 -186300000000 27 GDYR -774185250000 -772535250000 -779010250000 28 GJTL -1226875000000 10739700000000 4461600000000
29 MASA -665173000000 861235000000 2158925000000
30 SMSM -5216886000 1729603114000 310273114000
Board Independent
2009-2011
(dalam persentase)
No.
Nama Perusahaan
(Kode)
2009
2010
2011
1
DLTA
0
0
0
2
INDF
30
30
30
3
MLBI
50
42.8
42.8
4
DVLA
0
50
42.8
5
KLBF
33.3
33.3
33.3
6
KAEF
60
33.3
40
7
TSPC
66.6
66.6
66.6
8
GGRM
80
75
50
9
HMSP
40
40
40
10
MRAT
33.3
33.3
33.3
11
TCID
40
40
40
12
UNVR
0
0
80
13
INTP
42.8
42.8
42.8
14
SMGR
40
40
33.3
15
AMFG
42.8
33.3
33.3
16
ARNA
100
66.6
66.6
17
LION
33.3
33.3
0
18
LMSH
33.3
33.3
33.3
19
TBMS
40
40
40
20
EKAD
33.3
33.3
33.3
21
CPIN
40
50
40
22
JPFA
33.3
25
25
23
FSAW
33.3
33.3
33.3
24
ASII
50
45.4
45.4
25
AUTO
33.3
30
40
26
BRAM
42.8
42.8
42.8
27
GDYR
33.3
33.3
33.3
28
GJTL
42.8
37.5
37.5
29
MASA
50
50
40
30
SMSM
33.3
33.3
33.3
Lampiran v
Return
Saham
2009-2011
(dalam bilangan desimal)
No. Nama Perusahaan
(Kode)
Y (
Return
Saham )
2009
2010
2011
1
DLTA
2.1
0.93
-0.07
2
INDF
2.8
0.37
-0.05
3
MLBI
2.57
0.55
0.3
4
DVLA
0.6
-0.23
-0.01
5
KLBF
2.25
1.5
0.04
6
KAEF
0.67
0.25
1.14
7
TSPC
0.82
1.34
0.49
8
GGRM
4.07
0.86
0.55
9
HMSP
0.28
1.7
0.38
10
MRAT
1.58
0.64
-0.23
11
TCID
0.47
-0.11
0.07
12
UNVR
0.4
0.49
0.14
13
INTP
1.98
-0.16
0.07
14
SMGR
0.8
0.25
0.21
15
AMFG
0.52
2.13
0.13
16
ARNA
-0.61
0.95
0.26
17
LION
-0.31
0.8
0.38
18
LMSH
-0.33
1
0.04
19
TBMS
-0.35
1.77
-0.34
20
EKAD
-0.14
1.04
0.09
21
CPIN
4.17
-0.18
0.17
22
JPFA
2.8
1.25
0.21
23
FSAW
0.05
0.8
0.52
24
ASII
2.29
0.57
0.36
27
GDYR
0.92
0.3
-0.23
28
GJTL
1.12
4.41
0.3
29
MASA
0.46
0.6
0.51
30
SMSM
0.15
0.43
0.27
Lampiran vi
Statistik Deskriptif
Descriptive Statistics
N Minimum Maximum Mean Std. Deviation
RETURN SAHAM 93 -.75 4.41 .6962 .98665
ECONOMIC VALUE ADDED 93 1087937311 1.E13 6.73E11 1.526E12
MARKET VALUE ADDED 93 -1.E12 7.E13 5.29E12 1.155E13
BOARD INDEPENDENT 93 .00 100.00 38.7839 16.88320
Valid N (listwise) 93
Lampiran vii
Uji Normalitas (1)
One-Sample Kolmogorov-Smirnov Test
Unstandardized Residual
N 93
Normal Parametersa,,b Mean .0000000
Std. Deviation .96753702
Most Extreme Differences Absolute .175
Positive .175
Negative -.119
Kolmogorov-Smirnov Z 1.683
Asymp. Sig. (2-tailed) .007
Lampiran vii (lanjutan)
Hasil
Trimming
Uji Normalitas (2)
One-Sample Kolmogorov-Smirnov Test
Unstandardized Residual
N 90
Normal Parametersa,,b Mean .0000000
Std. Deviation .73060993
Most Extreme Differences Absolute .106
Positive .106
Negative -.097
Kolmogorov-Smirnov Z 1.008
Asymp. Sig. (2-tailed) .262
Uji Multikolinearitas
Coefficientsa
Model
Unstandardized Coefficients
Standardized Coefficients
t Sig.
Collinearity Statistics
B Std. Error Beta Tolerance VIF
1 (Constant) .689 .199 3.455 .001
Economic Value Added 2.824E-14 .000 .058 .434 .666 .610 1.640
Market Value Added 1.345E-14 .000 .208 1.567 .121 .612 1.633
Board Independent -.005 .005 -.114 -1.090 .279 .990 1.010
a. Dependent Variable: Return Saham
Lampiran vii (lanjutan)
Uji Autokorelasi
Model Summaryb
Model R R Square
Adjusted R Square
Std. Error of the
Estimate Durbin-Watson
1 .264a .070 .037 .74324 1.486
a. Predictors: (Constant), Board Independent, Market Value Added, Economic Value Added
b. Dependent Variable: Return Saham
Lampiran viii
Hasil Uji Koefisien Determinasi
Model Summaryb
Model R R Square Adjusted R Square Std. Error of the Estimate
1 .264a .070 .037 .74324
Lampiran ix
Hasil Pengujian Hipotesis
Hasil Uji T
Coefficientsa
Model
Unstandardized Coefficients
Standardized Coefficients
t Sig.
B Std. Error Beta
1 (Constant) .689 .199 3.455 .001
Economic Value Added 2.824E-14 .000 .058 .434 .666
Market Value Added 1.345E-14 .000 .208 1.567 .121
Board Independent -.005 .005 -.114 -1.090 .279
a. Dependent Variable: Return Saham
Hasil Uji F
Coefficientsa
Model
Unstandardized Coefficients
Standardized Coefficients
t Sig.
B Std. Error Beta
1 (Constant) .689 .199 3.455 .001
Economic Value Added 2.824E-14 .000 .058 .434 .666
Market Value Added 1.345E-14 .000 .208 1.567 .121
Board Independent -.005 .005 -.114 -1.090 .279
