Pengaruh Earnings, Residual Income, Economic Value Added Dan Operation Cash Flow Terhadap Return Saham

Pengaruh Earnings, Residual Income, Economic Value Added Dan Operation Cash Flow Terhadap Return Saham

Ronny Malavia Mardani

Fakultas Ekonomi Universitas Islam Malang

Jalan MT. Haryono 193 Malang

Abstract

This study intends to test of: first, the effect of earnings, residual income, economic value added, and Operation Cash Flow simultaneously on returns received by shareholders manufacturing companies listed on the Indonesia Stock Exchange and second the effect of earnings, residual income, economic value added, and Operation Cash Flow partially on returns received by shareholders manufacturing companies listed on the Indonesia Stock Exchange. This study uses linear regression to see the contribution of each independent variable in influencing stock returns. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange (BEI) in 2008-2011. Being sampled in this study was determined using purposive sampling method. With purposive sampling method found 40 companies that meet the criteria and deserves to be sampled. Based on the analysis it can be concluded simultaneously Earnings, Economic Value Added, Residual Income and Cash Flow Operation significant effect on the return. In partially, only Earnings and Cash Flow Operation significant effect on the return.

Keywords: keuntungan, pemasukan bersifat residual , penambahan nilai ekonomi, arus dana operasional, pengembalian.

Pendahuluan

Dalam pengambilan keputusan investasi,faktor kemampuan perusahan dalam menghasilkan laba dan kepastian memperoleh hasil dalam investasi merupakan hal yang sangat penting untuk diperhitungkan. Sehingga dalam berinvestasi, investor tentu akan menanamkan modalnya pada perusahaan yang dipandang mampu meningkatkan kekayaan baginya. Pengukuran kinerja perusahaan diperlukan untuk menentukan keberhasilan perusahaan...

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