Analisis Pengaruh Economic Value Added Terhadap Market Value Added pada Industri Manufaktur di Bursa Efek Indonesia 2013 -2017

Economic Value Added (EVA) as an indicator that measures the performance of a company by considering the cost of capital that has been invested for the first time has been applied to several companies and in practice relates to the value achieved by a company. The size of the value created by the company has an impact on the public response reflected in the fluctuations in the price of the company's shares on the stock exchange. Changes to the share price reflect the company's market value where the increase or decrease in stock prices indicates the existence of a company's Market Value Added (MVA). This study was conducted to evaluate the significant effect of EVA on MVA using four types of simple regression models with time lag as a hypothesis, using 15 manufacturing industry companies as samples of research objects selected based on certain criteria. The results of the study prove that of the four models analyzed, there is only 1 model that represents the creation of the value of a company (MVA) in the current period, manifested from the good influence of internal management of company financial performance (EVA) in period t-1 where the influence is considered measurement of capital costs in terms of external factors.