Pengaruh Economic Value Added (EVA) dan Market Value Added (MVA) terhadap Return Saham pada Perusahaan Manufaktur di Bursa Efek Indonesia

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DATA VARIABEL PENELITIAN

Kinerja Keuangan Diukur Dengan

return saham

NO. NAMA PERUSAHAAN KODE TAHUN

2009 2010 2011 2012 1. PT Ekadharma International Tbk. EKAD -0.14 1.04 0.10 107.14 2. PT Resource Alam Indonesia Tbk. KKGI 0.26 0.68 0.74 100.78 3. PT Dian Swastatika Sentosa Tbk. DSSA 0.24 2.22 -0.37 113.54 4. PT Goodyear Indonesia Tbk. GDYR 0.92 0.30 -0.24 115.18 5. PT Indo Acidatama Tbk. SRSN -0.32 -0.10 -0.10 111.11 6. PT Hexindo Adiperkasa Tbk. HEXA 3.57 1.27 0.25 100.56 7. PT Sepatu Bata Tbk. BATA 0.76 0.88 -0.19 105.45 8. PT Astra Graphia Tbk. ASGR 0.58 1.19 0.65 1052.63 9. PT Tunas Baru Lampung Tbk. TBLA 0.79 0.21 0.44 1050.85 10. PT Ultra Jaya Milk Tbk. ULTJ -0.28 1.09 -0.11 101.85 11. PT Budi Acid Jaya Tbk. BUDI 0.69 0.00 0.09 108.33 12. PT Tirta Mahakam Resources Tbk. TIRT 0.42 0.10 -0.18 101.56 13. PT Unggul Indah Cahaya Tbk. UNIC -0.14 -0.24 0.09 110.00 14. PT Citra Tubindo Tbk. CTBN 0.00 -0.19 0.70 103.53 15. PT Jasuindo Tiga Perkasa Tbk. JTPE 0.89 1.27 -0.74 266.67 16. PT Matahari Putra Prima Tbk. MPPA 0.08 1.19 -0.38 108.70 17. PT Mitra Adiperkasa Tbk. MAPI 0.72 3.31 0.93 102.91 18. PT Holcim Indonesia Tbk. SMCB 1.46 0.45 -0.03 105.75 19. PT Roda Vivatex Tbk. RDTX 0.08 0.50 0.29 111.11 20. PT Keramika Indonesia Assosiasi

Tbk.

KIAS

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29. PT Pudjiadi And Sons Tbk. PNSE 0.24 0.75 -0.76 303.03 30. PT Tiga Pilar Sejahtera Tbk. AISA -0.15 1.17 -0.37 131.31

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Kinerja Keuangan Diukur Dengan Market Value Added(MVA)

1207110 569533 5737156 6499925 3. PT Dian Swastatika

Sentosa Tbk.

DSSA

4314604 13907929 8821781 1001590 4. PT Goodyear

Indonesia Tbk.

GDYR

393540 (103224) 391495 450945 5. PT Indo Acidatama

Tbk.

SRSN

403073 360938 324800 360909 6. PT Hexindo

Adiperkasa Tbk.

HEXA

2645915 6005895 7517864 7559775 7. PT Sepatu Bata Tbk. BATA 467686 878457 714632 753594 8. PT Astra Graphia

Tbk.

ASGR

12827 443235 1425547 1611557 9. PT Tunas Baru

Lampung Tbk.

TBLA

1416248 1939200 2915835 2935360 10. PT Ultra Jaya Milk

Tbk.

ULTJ

329856 1965904 154780 221320 11. PT Budi Acid Jaya

919816 701320 766491 843174 14. PT Citra Tubindo

Tbk.

CTBN

2479874 1999860 3399834 3399997 15. PT Jasuindo Tiga

Perkasa Tbk.

JTPE

86803 226826 330217 1154066 16. PT Matahari Putra

Prima Tbk.

MPPA

4154537 8309046 5130415 5576541 17. PT Mitra Adiperkasa

Tbk.

MAPI

1027091 4438298 8546862 8545692 18. PT Holcim Indonesia

Tbk.

SMCB

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19. PT Roda Vivatex Tbk.

RDTX

(205429) (189928) (153199) (203331) 20. PT Keramika

Indonesia Assosiasi Tbk.

KIAS

168664 (339859) (1604753) (947436) 21. PT Trias Sentosa Tbk. TRST (795047) (68740) (448434) (281190) 22. PT Arthavest Tbk. ARTA 53305 29116 (77403) (78565) 23. PT Pabrik Kertas

Tjiwi Kimia Tbk.

TKIM

2404262 4007104 2838365 (3339253) 24. PT Sekawan

84311496 12589499 143443995 15259999 26. PT Centrin Online

3117049 42804549 40389921 412679 29. PT Pudjiadi And Sons

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Kinerja Keuangan Diukur Dengan

Economic Value Added

(EVA)

9697.57 54379.36 121026.54 1207110 3. PT Dian Swastatika

Sentosa Tbk.

DSSA

645.42 (210) (891) 4314 4. PT Goodyear Indonesia

Tbk.

12366.91 43021.30 310.88 4030,73

6. PT Hexindo

Adiperkasa Tbk.

HEXA

34396.55 1822.37 198.50 2645,91 7. PT Sepatu Bata Tbk. BATA 1400.87 1877.09 149.98 4676,86

Resources Tbk. TIRT 13527.73 5810.70 (23062) (30645) 13. PT Unggul Indah

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Tbk.

19. PT Roda Vivatex Tbk. RDTX 11083.30 19679.94 2142 (2054) 20. PT Keramika Indonesia

Assosiasi Tbk.

KIAS

18521.50 15021.78 37041.09 1686,64 21. PT Trias Sentosa Tbk. TRST 46945.64 42806.60 33419.40 79504 22. PT Arthavest Tbk. ARTA 2084.62 225.28 737.77 53305 23. PT Pabrik Kertas Tjiwi

Kimia Tbk. 25. PT Unilever Indonesia

Tbk.

UNVR

146.88 17.233 2.56 8431 26. PT Centrin Online Tbk. CENT 565.34 2686.01 (779) 5660 27. PT Panasia Indosyntec

Tbk 30. PT Tiga Pilar Sejahtera

Tbk.

AISA

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Data Variabel Perubahan

KODE EVA MVA Return Saham

2010 2011 2012 2010 2011 2012 2010 2011 2012

EKAD 100.26 125.86 103.27 -230.67 151.86 26.47 204 109.80 107.14 KKGI 560.75 222.56 0.00 47.18 1007.34 113.30 168.18 174.32 100.78 DSSA -32.68 422.55 16.90 322.35 63.43 113.54 322.32 63.43 113.54 GDYR 52129.36 0.03 407.62 -262.30 -37.93 115.19 130.21 76.40 115.18 SRSN 34.85 72.13 183.50 89.55 89.99 111.12 89.55 90.00 111.11 HEXA 529.90 108.91 159.04 226.99 125.17 100.56 226.98 125.17 100.56 BATA 134.06 79.87 137.07 187.83 81.35 105.45 187.78 81.36 105.45 ASGR 194.72 92.71 11.31 3455.22 321.62 1130.48 219.05 165.22 1052.63 TBLA 111.78 0.07 83935.45 136.93 150.36 1006.70 120.59 143.90 1050.85 ULTJ -266.16 51.95 520.29 595.99 78.74 142.99 208.62 89.26 101.85 BUDI 53.85 -19.27 -212.74 100.38 109.45 108.34 100 109.09 108.33 TIRT 42.95 -39.69 -870.57 56.79 159.74 73.67 109.9 82.05 101.56 UNIC 198.71 14.17 315.79 76.25 109.29 110.00 76.25 109.29 110.00 CTBN 166.34 154.43 224.52 80.64 170.00 100.00 80.65 170.00 103.53 JTPE 163.44 72.45 141.69 261.31 145.58 349.49 227.45 25.86 266.67 MPPA -22.33 1754.27 -24.50 200.00 61.74 108.70 219.12 61.74 108.70 MAPI 134.61 121.33 174.80 432.12 192.57 99.99 431.45 192.52 102.91 SMCB 66.10 39.06 977.04 145.16 96.67 105.75 145.16 96.67 105.75 RDTX 177.56 108.79 98.13 92.45 80.66 132.72 150 128.57 111.11 KIAS 81.10 246.58 -28.82 -201.50 472.18 59.04 72.31 79.79 106.67 TRST 91.18 78.07 65.44 86.46 65.24 62.71 122.73 144.44 115.38 ARTA 10.81 327.49 702.41 54.62 -265.84 101.50 86.90 167.12 90.16 TKIM 32.03 -100.42 -398.05 166.67 70.83 117.65 166.67 70.83 117.65 SIAP 55.70 -115.54 -125.28 -25.30 -425.97 96.61 124.64 113.95 102.04 UNVR 117.92 148.82 119.91 149.32 113.94 106.38 149.32 113.94 106.38 CENT 475.07 -29.02 -137.64 13.52 -439.68 82.04 68 64.12 146.79 HDTX 30.50 -429.66 26.28 110.69 124.73 144.26 106.38 76.00 115.79 INDF 118.46 80.54 198.13 137.32 94.36 102.17 137.32 94.36 102.17 PNSE 69.70 75.16 264.49 12.74 2191.10 -280.18 175.27 24.29 303.03 AISA

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Lampiran 5

Daftar Populasi dan Perusahaan Sampel (Tahun 2009-2012)

No Nama Perusahaan Kriteria

Kolom

sampel Klasifikasi

1 2 3

1 Holcim Indonesia Tbk    S(1) Cement

2 Indocement Tunggal Prakasa Tbk   X Cement

3 Semen Gresik Tbk   X Cement

4 Arwana Citramulia Tbk   X Ceramics, Glass,

Porcelain

5 Asahimas Flat Glass Tbk   X Ceramics, Glass,

Porcelain

6 Intikeramik Alamasri Industri Tbk   X Ceramics, Glass, Porcelain

7 Keramika Indonesia Asosiasi Tbk    S(2) Ceramics, Glass, Porcelain

8 Mulia Industrindo Tbk   X Ceramics, Glass,

Porcelain

9 Surya Toto Indonesia Tbk   X Ceramics, Glass, Porcelain

10 Alumindo Light Metal Industry Tbk

  X Metal and Allied Products

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No Nama Perusahaan sampel

1 2 3

15 Indal Aluminium Industry Tbk  X  Metal and Allied Products 16 Itamaraya Gold Industry Tbk   X Metal and Allied Products 17 Jakarta Kyoei Steel Works Ltd

Tbk

  X Metal and Allied Products

18 Jaya Pari Steel Tbk   X Metal and Allied Products 19 Krakatau Steel Tbk  X X Metal and Allied Products 20 Lion Metal Works Tbk   X Metal and Allied Products 21 Dian Swastatika Sentosa Tbk    S(4) Metal and Allied Products 22 Pelangi Indah Canindo Tbk   X Metal and Allied Products 23 Pelat Timah Nusantara  X X Metal and Allied Products 24 Temabaga Mulia Semanan Tbk   X Metal and Allied Products

25 Barito Pacific Tbk  X  Chemicals

26 Budi Acid Jaya Tbk    S(5) Chemicals 27 Duta Pertiwi Nusantara Tbk  X  Chemicals 28 Ekadharma International Tbk    S(6) Chemicals

29 Eterindo Wahanatama Tbk   X Chemicals

30 Indo Acidatama Tbk    S(7) Chemicals 31 Intanwijaya Internasional Tbk   X Chemicals 32 Sorini Agro Asia Corporindo Tbk   X Chemicals 33 Chandra Asri Petrochemical Tbk   X Chemicals 34 Unggul Indah Cahaya Tbk    S(8) Chemicals

35 Alam Karya Ungg   X Plastics & Packaging

36 Argha Karya Prima Ind. Tbk   X Plastics & Packaging 37 Asiaplast Industries Tbk  X  Plastics & Packaging

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Kolom

1 2 3

39 Dynaplast Tbk   X Plastics & Packaging

40 Indopoly Swakarsa Industry Tbk  X X Plastics & Packaging 41 Champion Pasific Indonesia Tbk  X X Plastics & Packaging 42 Kageo Igar Jaya Tbk  X  Plastics & Packaging 43 Leyand Internasional Tbk   X Plastics & Packaging 44 Sekawan Intipratama Tbk    S(9) Plastics & Packaging

45 Siwani Makmur Tbk   X Plastics & Packaging

46 Titan Kimia Nusantara Tbk   X Plastics & Packaging

47 Trias Sentosa Tbk   X Plastics & Packaging

48 Tunas Arifin Tbk X  X Plastics & Packaging

49 Yanaprima Hastapersada Tbk   X Plastics & Packaging 50 Chareon Pokphand Indonesia Tbk   X Animal Feed

51 JAPFA Comfeed Indonesia Tbk   X Animal Feed 52 Matahari Putra Prima Tbk    S(10) Animal Feed

53 Sierad Produce Tbk   X Animal Feed

54 Fajar Surya Wisesa Tbk   X Pulp & Paper 55 Indah Kiat Pulp & Paper Corp.

Tbk

  X Pulp & Paper

56 Kertas Basuki Rachmat Indonesia Tbk

 X  Pulp & Paper

57 Suparma Tbk  X  Pulp & Paper

(11)

1 2 3

62 Daya Sakti Unggul Corporation

Tbk X

 X Wood Industries

63 Sumalindo Lestari Jaya Tbk  X  Wood Industries 64 Tirta Mahakam Resources Tbk    S(12) Wood Industries

65 Albond Makmur Usaha Tbk   X Automotive and

Components

66 Astra International Tbk    S(13) Automotive and Components

67 Astra Otoparts Tbk  X  Automotive and

Components

68 Gajah Tunggal Tbk  X  Automotive and

Components

69 Goodyear Indonesia Tbk    S(14) Automotive and Components

70 Indo Kordsa Tbk    Automotive and

Components

71 Indomobil Sukses International Tbk

  X Automotive and

Components

72 Trias Sentosa Tbk    S(15) Automotive and Components

73 Multi Prima Sejahtera Tbk   X Automotive and Components

(12)

Kolom

1 2 3

75 Nipress Tbk   X Automotive and

Components

76 Prima Alloy Steel Universal Tbk   X Automotive and Components

77 Jasuindo Tiga Perkasa Tbk    S(16) Automotive and Components

78 APAC Citra Contertex Tbk  X  Textile, Garment

79 Argo Pantes Tbk  X  Textile, Garment

80 Asia Pacific Fibers Tbk   X Textile, Garment

81 Centrin Tbk    S(17) Textile, Garment

82 Delta Dunia Makmur Tbk   X Textile, Garment

83 Eratex Djaja Tbk   X Textile, Garment

84 Ever Shine Textile Industry Tbk  X  Textile, Garment 85 Hexindo Adiperkasa Tbk    S(18) Textile, Garment 86 Indorama Synthetics Tbk    Textile, Garment 87 Karwell Indonesia Tbk  X  Textile, Garment 88 Nusantara Inti Corpora Tbk   X Textile, Garment 89 Pudjiadi And Sons Tbk    S(19) Textile, Garment 90 Panasia Filament Inti Tbk   X Textile, Garment 91 Panasia Indo Syntec Tbk    S(20) Textile, Garment 92 Polychem Indonesia Tbk  X  Textile, Garment 93 Ricky Putra Globalindo Tbk  X  Textile, Garment 94 Roda Vivatex Tbk    S(21) Textile, Garment 95 Sunson Textile Manufacturer Tbk   X Textile, Garment

(13)

1 2 3

97 Unitex Tbk   X Textile, Garment

98 Primarindo Asia Infrastructure Tbk

 X  Footwear

99 Sepatu Bata Tbk    S(22) Footwear

100 Surya Intrindo Makmur Tbk   X Footwear

101 Jembo Cable Company Tbk   X Cable

102 Kabelindo Murni Tbk   X Cable

103 KMI Wire and Cable Tbk  X  Cable

104 Sucaco Tbk  X  Cable

105 Arthavest Tbk    S(23) Cable

106 Voksel Electric Tbk   X Cable

107 Sat Nusapersada Tbk   X Electronics

108 Ratu Prabu Energi Tbk   X Others Industry 109 Akasha Wira International Tbk  X  Food and Beverages 110 Aqua Golden Mississippi Tbk X  X Food and Beverages

111 Cahaya Kalbar Tbk   X Food and Beverages

112 Tunas Baru Lampung Tbk    S(24) Food and Beverages

113 Delta Djakarta Tbk   X Food and Beverages

114 Indofood CBP Sukses Makmur Tbk

 X X Food and Beverages

115 Indofood Sukses Makmur Tbk    S(25) Food and Beverages

116 Mayora Indah Tbk   X Food and Beverages

(14)

Kolom

1 2 3

120 Sekar Bumi Tbk X  X Food and Beverages

121 Sekar Laut Tbk  X  Food and Beverages

122 Siantar Top Tbk   X Food and Beverages

123 Tiga Pilar Sejahtera Food Tbk    S(26) Food and Beverages 124 Ultra Jaya Milk Tbk    S(27) Food and Beverages

125 BAT Indonesia X  X Tobacco Manufactures

126 Bentoel International Investama Tbk

 X  Tobacco Manufactures

127 Gudang Garam Tbk   X Tobacco Manufactures

128 HM Sampoerna Tbk  X  Tobacco Manufactures

129 Darya-Varia Laboratoria Tbk   X Pharmaceuticals

130 Indofarma Tbk   X Pharmaceuticals

131 Kalbe Farma Tbk   X Pharmaceuticals

132 Kimia Farma Tbk  X  Pharmaceuticals

133 Merck Tbk    S(28) Pharmaceuticals

134 Pyridam Farma Tbk   X Pharmaceuticals

135 Schering Plough Indonesia Tbk   X Pharmaceuticals 136 Taisho Pharmaceutical Indonesia

Tbk

 X  Pharmaceuticals

137 Tempo Scan Pacific Tbk   X Pharmaceuticals

138 Mitra Adiperkasa Tbk    S(29) Cosmetics and Household

139 Martina Berto Tbk  X X Cosmetics and Household

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1 2 3

142 Unilever Indonesia Tbk    S(30) Cosmetics and Household

143 Kedaung Indah Can Tbk   X Houseware

144 Kedawung Setia Industri Tbk   X Houseware 145 Langgeng Makmur Industri Tbk   X Houseware