COMPARATIVE ANALYSIS OF FINANCIAL PERFORMANCE USING THE ECONOMIC VALUE ADDED (EVA) AND MARKET VALUE ADDED (MVA) METHODS IN THE RESTAURANT, HOTEL, AND TOURISM SUBSECTOR FOR THE YEARS 2018-2022

Kenia Khoirunnisa; Arisyahidin Arisyahidin; Nisa Mutiara*

doi:10.31846/jae.v12i2.778

COMPARATIVE ANALYSIS OF FINANCIAL PERFORMANCE USING THE ECONOMIC VALUE ADDED (EVA) AND MARKET VALUE ADDED (MVA) METHODS IN THE RESTAURANT, HOTEL, AND TOURISM SUBSECTOR FOR THE YEARS 2018-2022

Kenia Khoirunnisa, Arisyahidin Arisyahidin, Nisa Mutiara*

Abstract

This research aims to determine the companyâ€™s financial performance as assessed using theÂ Economic Value Added (EVA) and Market Value Added (MVA) methods. The sampling technique in this research was nonprobability sampling with purposive sampling. The sample of this researchÂ is company financial report by taking annual data from 6 companies in the restaurant, hotel and tourism subsectors. This research consists of three discussions starting of assessing financial performance using the Economic Value Added (EVA) method, assessing financial performance using the Market Value Added (MVA), and assessing the average results of Economic Value Added (EVA) and Market Value Added (MVA) from 6 companies in the sample with a research period 5 yearss from 2018-2022. The Economic Value Added (EVA) results from 2018-2022 from the 6 companies sampled in the research show that the average Economic Value Added (EVA) results show negative results, while the Market Value Added (MVA) results from 2018-2022 from the 6 companies sampled in the research showed that the average Market Value Added (MVA) results showed positive results.

Keywords : Financial Performance, Economic Value Added, Market Value Added

Full Text:

PDF

References

Agustin, D. R., Martini, N. P., & Riskiputri, T. D. (2021). Evaluasi Economic Value Added

(EVA), Financial Value Added (FVA), dan Market Value Added (MVA) Dengan Time Series Approach Sebagai Alat Penilaian Kinerja Keuangan. Jurnal Manajerial, 08, 294-304.

Creswell, J. (2009). Research Design Qualitative, Quantitative, and Mixed Methods Approaches. United States of America: SAGE Publication, Inc.

Hartono. (2019, Oktober). Economic Value Added (EVA) dan Market Value Added (MVA) sebagai Alat Ukur Kinerja Keuangan (Studi Kasus pada PT. Mayora Indah, Tbk dan PT. Unilever Indonesia, Tbk). Jurnal Ekonomi, 21, 221-236.

Hayat, A., Noch, M. Y., Hamdani, Rumasukun, M. R., Rasyid, A., & Nasution, M. D. (2018). Manajemen Keuangan. Medan & Sidoarjo: Madenatera Qualified Publisher & Indomedika Pustaka.

Junaidi, L. D., & Nasution, U. H. (2022, Februari). Analisis Kinerja Keuangan Perusahaan Sebelum dan Sesudah Penyebaran Covid-19 (Studi Kasus pada Perusahaan yang Tercatat di Bursa Efek Indonesia). Jurnal Ilmiah Universitas Batanghari Jambi (JIUBJ), 22, 631-635.

Kementerian Kesehatan. (2020). Peraturan Menteri Kesehatan Nomor 9 Tahun 2020 tentang Pedoman Pembatasan Sosial Berskala Besar Dalam Rangka Percepatan Penanganan Corona Virus Disease 2019. Jakarta.

Kuncara, T., & Agustina, R. (2022). Analysis of Cov-19 Impact on Financial Performance at PT. Bank Rakyat Indonesia (Persero) Tbk and PT. Bank Central Asia, Tbk for 2016-2020 Using Economic Value Added (EVA) and Market Value Added (MVA) Methods. East Asian Journal of Multidiciplinary Research (EAJMR), 2, 59-66.

Masyiyan, R. A., & Isynuwardhana, D. (2020, April). Analysis of Financial Performance with Economic Value Added (EVA), Market Value Added (MVA), and Financial Value Added (FVA). JASA (Jurnal Akuntansi, Audit dan Sisten Informasi Akuntansi), 4, 116-125.

Rinaldo, D., & Puspita, V. A. (2020). Analisis Kinerja Perusahaan (Prinsip-prinsip & Aplikasi). Bandung: Manggu Makmur Tanjung Lestari.

Silvia, R., & Wangka, N. M. (2022). Economic Value Added and Market Value Added as A Measuring Tool for Financial Performance. International Journal of Social Science and Business, 6, 136-141.

Sugiyono. (2019). Metode Penelitian Kuantitatif, Kualitatif, dan R & D. Bandung: Penerbit Alfabeta.

Sujarweni, V. W. (2015). Metodologi Penelitian Bisnis & Ekonomi. Yogyakarta: Pustaka Baru Press.

Sunardi, N. (2020, Maret). Penilaian Kinerja Keuangan menggunakan Economic Value Added (EVA) dan Market Value Added (MVA) dengan Time Series Approach Pada Industri Semen di Indonesia. Jurnal Ilmiah Manajemen Forkamma, 3, 184-194.

DOI: https://doi.org/10.31846/jae.v12i2.778