SAIFUL FATONI, 040016753
(2004)
PENGARUH INFORMASI RETURN ON INVESTMENT, OPERATING CASH FLOW, DAN ECONOMIC VALUE ADDED TERHADAP RATE OF RETURN.
Skripsi thesis, UNIVERSITAS AIRLANGGA.
Abstract
The company's perfonnance is a measurement used by investors to invest their capital in shares of stock. Several valuation approaches available in order to measured company's perfonnance, but the most commonly used for analysis are based on earnings and cash flow for a specific period. This approach is called conventional concept. where earnings and cash flow often used as primary indicators in order to valuing company's successfuL However these traditional measurements are highly dependent upon the accounting methods are used in preparing the financial statement Investors must be careful in using earnings or cash flow infonnation as a standard in making an investment decision.
The introduction of the value based metrics concepts in measuring the company's perfonnance have been shown recently to recover the weakness of the traditional measurements. One ofthe measurement using value based metric concept is Economic Value Added. Measuring the company's perfonnance with this method is better than conventional method, so it can be precisely, compared with earnings and cash flow.
The objective of this research is to examine those perfonnance measurement, and how their influence on investment's rate of return. This research used Rate of Return (ROR) as dependent variable; Return on Investment (ROI), Operating Cash Flow (OCF), and Economic Value Added (EVA) as independent The hypotheses proposed were tested by multiple linear regressions for 12 food and beverages companies dual listed in Jakarta Stock Exchange and Surabaya Stock Exchange in period 1998-2002. This research has found that in partial method, ROI don't have significant influence on ROR, but OCF and EV A have significant influence on ROR However, if ROI, OCF, and EVA used together they had a significant influence on ROR
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