ANALISIS PERBEDAAN KINERJA KEUANGAN BERDASARKAN METODE EVA (ECONOMIC VALUE ADDED) dan ROA ( RETURN ON ASSET) PADA SEKTOR TELEKOMUNIKASI

Abstract

ABSTRACT

A company in business activities have the main objective is to maximize the wealth of the company and shareholders as well. One measure of financial performance to see the level of management success in managing financial resources owned by the company is using EVA and ROA. The use of EVA in the research based approach that this approach is very good compared with the ratio analysis and the approach is able to describe the rate of return generated wealth for investors and companies. However, EVA can not replace the traditional calculation as a whole, because the traditional measurement tools such as ROA intermental value in monitoring the performance of the company. Performance measurement based on financial ratios are usually more common and easily in its calculations because it is more specific, clear and measurable.

In this research, the authors specializing in the telecommunications sector that are listed in Indonesia Stock Exchange PT Telkom Tbk, PT Indosat Tbk and PT Excelcomindo Pratama Tbk period 2006-2010. This study aims to determine how the financial performance and to know the difference between the financial performance of PT Telkom Tbk, PT Indosat Tbk and PT Excelcomindo Pratama Tbk .

The method used in this research is the approach of EVA, ROA and Independent sampel T Test. Independent sampel T Test tests where used to determine the average difference for more than two groups of related samples. From the calculation of EVA and ROA put PT Telkom Tbk in the first position as a company that has a reasonably good performance shown by the positive EVA. EVA is a positive value indicates that the company has an economic value-added, because it can create value for shareholders. This will attract investors to invest.

Differences in financial performance by Independent sampel T Test is known that the decision is to accept Ha and reject Ho, which means between PT Telkom Tbk, PT Indosat Tbk and PT Excelcomindo Pratama Tbk there are significant differences in financial performance where the resulting calculating significant value under 5%.

Keywords : Economic Value Added, Return On Asset , Performance