Open AccessANALYSIS OF FINANCIAL PERFORMANCE USING ECONOMIC VALUE ADDED (EVA) AND MARKET VALUE ADDED (MVA) APPROACH OF STATE-OWNED BANKS (BUMN) LISTED ON INDONESIA STOCK EXCHANGE
Author(s) -
Satria Adhitama,
Muhammad Abdul Muis
Publication year - 2021
Publication title -
dinasti international journal of management science
Language(s) - English
Resource type - Journals
eISSN - 2686-522X
pISSN - 2686-5211
DOI - 10.31933/dijms.v3i1.978
Subject(s) - economic value added , market value added , stock exchange , business , value (mathematics) , financial system , stock market , finance , state owned , market value , economics , incentive , market economy , mathematics , statistics , paleontology , horse , biology
This study aims to analyze financial performance using Economic Value Added (EVA) and Market Value Added (MVA) approaches of state owned Banks (BUMN) listed on Indonesia Stock Exchange. The research methodology used qualitative descriptive research. The objects of this study are the state owned Banks (BUMN) listed on Indonesia Stock Exchange 2016-2018. The data collection techniques used are secondary data and panel data. The analysis techniques used are by calculating Economic Value Added (EVA) and Market Value Added (MVA). The results of this study indicate that the financial performance of the state owned Banks (BUMN) listed on Indonesia Stock Exchange 2016-2018 in terms of Economic Value Added (EVA) has good financial performance because the Economic Value Added value always more than zero (EVA> 0). In terms of Market Value Added (MVA), in 2016 Bank BNI had negative MVA value (MVA 0). BRI and Mandiri Bank had positive MVA value (MVA> 0) in 2016-2018. BTN Bank in 2016-2018 had negative MVA (MVA <0).