KINERJA KEUANGAN KONVENSIONAL, ECONOMIC VALUE ADDED,HUMAN ECONOMIC VALUE ADDED, VALUE ADDED INTELLECTUALCOEFFICIENT DAN DAMPAKNYA TERHADAP RETURN SAHAMPERUSAHAAN YANG BERGERAK DI BIDANG ENERGI DIINDONESIA DAN MALAYSIA
2020
Return is one of the factors that investors pay attention in determining
their investment policies. For this reason, this study analyzes the effect of several
conventional financial performance indicators such as total asset turnover, current
assets, debt to equity ratio, and return on assets to stock returns. Other variables
that are seen as new indicators such as economic value added, human economic
value added, and value added intellectual capital are also examined for their
effects on stock returns. Companies engaged in the energy sector in Indonesia and
Malaysia were made as objects in this study. OLS regression is used to analyze
the effect of independent variables on the dependent variable. The results of an
analysis of energy company data in Indonesia show that debt to equity ratio and
human economic value added have a negative and significant effect on stock
returns, while economic value added and value added intellectual capital have a
positive and significant effect on stock returns. As for the object of research on
energy companies in Malaysia, the results showed that total asset turnover,
economic value added and value added intellectual capital had a positive and
significant effect on stock returns.
Keyword: stock return, economic value added, value added intellectual coefficient
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