Economic Value Added (EVA) and Market Value Added (MVA) Implications on Stock Returns

Udiyana, Ida Bagus Gede; Astini, Ni Nyoman Seri; Parta, I Nyoman; Laswitarni, Ni Ketut; Wahyuni, Luh Asti

doi:10.22225/jj.9.1.2022.15-22

Cited by 7 publications

(9 citation statements)

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“…Empirical research studies of value added were conducted on stock exchanges (Perotti, Wagenhofer, 2011; Baker et al, 2011) and bond markets (Bosse et al, 2013), including emerging markets (Gilmore, Hayashi, 2011) and Far East markets (Nurwati, Ramdi, 2013). The studies focused on 8classic9 value added measures and the relationship between MVA and company performance, and the impact of planning on shareholder value (Quintiliani, 2018), the relationship of MVA and EVA and their impact on the stock rate of return (Johan, 2019; Udiyana et al, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

Untitled

2024

SPSUTOM

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The objective of the argument in this paper is to attempt at answering the question whether learning and knowledge exchange are the key factors determining online work preferences for Generation Z employees. Design/methodology/approach: The essence of knowledge management is that all knowledge, both explicit and tacit, accumulated by an organization becomes easily accessible to each of its members. This is important for decision-making processes and allows the organization to become more agile. Knowledge management is most often associated with modern information technologies. Thanks to them, streams of various data can be processed and analyzed in many different ways. However, in the literature there is an increasingly common attitude that more attention should be paid not only to the technological but also to the human aspect of knowledge management. The processes of knowledge exchange among employees have been subject to extensive research and studies, yet the recent years have added another thread to the discussion about the matter, i.e. a significant proportion of employees switching to the online work model. Based on the findings of the studies conducted on a group of employees representing Generation Z, the Principal Component Analysis (PCA) technique was applied to organize the factors with the highest relevance for the respondents in online work. Findings: PCA demonstrated that the components recognized as most important were those relating to knowledge transfer and their impact on employee efficiency, and on the other hand employee relations as a factor that supports the learning processes. Research limitations/implications: In order to dwell upon the underlying causes of this situation, it should be recommended to proceed with further in-depth qualitative research. Practical implications: What the research communicates to the organization is that although Generation Z members are aware of the significance of the knowledge transfer and learning processes and they understand the role of peer relations in these processes, they are unable to overcome the social barriers created by the online working system due to lack of appropriate skills. Originality/value: The paper reveals new aspects that play crucial role in shaping Generation Z attitude to online work from one side. On the other hand it also helps to design synthetic tool researching this area in the future.

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Section: Literature Reviewmentioning

confidence: 99%

Untitled

2024

SPSUTOM

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“…2022 Indonesia Udiyana et al, (2022) No hay efecto en el eva en los retornos de las acciones de las empresas que cotizan en la bolsa de valores de Indonesia.…”

Section: Metodologíaunclassified

La relación del valor económico agregado (EVA) y el retorno del mercado accionario colombiano 2009 al 2020

Lezama Palomino,

Laverde Sarmiento,

García Carrillo

2023

Rev. fac. cien. econ.

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Uno de los métodos aceptados para evaluar el desempeño de las empresas es el EVA, que es una medida que cuantifica la creación de valor que genera la empresa; se espera que a medida que se mejora el indicador, también lo haga la valoración de la empresa, de este modo, el valor de mercado aumenta. En este sentido, se han realizado trabajos para medir el efecto del eva en el comportamiento de los precios de las acciones con resultados dispares; sin embargo, no existe un consenso al respecto, pues los resultados han sido diferentes según el país, el periodo y las metodologías empleadas. La presente investigación analiza la relación del eva con los retornos del mercado accionario colombiano para el periodo 2009-2020, aplicando un análisis correlacional y un modelo econométrico; entre los principales resultados se encuentra que el sector que más ha creado valor en los últimos años es el sector financiero, y que el spread del eva presenta una correlación positiva y estadísticamente significativa con el NOPAT, ROE y ROIC. Además, se encontró que el eva no afecta el comportamiento de los retornos de los principales sectores que participan en la bolsa de valores de Colombia.

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“…Sebaliknya, (Agnatia & Amalia, 2018) menyatakan bahwa NTE tidak ada pengaruhnya terhadap harga saham. Begitu juga dengan penelitian yang dilakukan oleh (Udiyana et al, 2022) mengindikasikan bahwa NTE berpengaruh negatif terhadap harga saham.…”

Section: Pendahuluanunclassified

Pengungkapan Emisi Karbon, Nilai Tambah Ekonomi dan Pasar terhadap Imbal Hasil Saham

Cahyadi,

Sitinjak

2022

point

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Kesadaran masyarakat akan pentingnya investasi semakin berkembang seiring dengan meningkatnya literasi keuangan. Imbal hasil saham merupakan indikator baik buruknya kinerja perusahaan, namun nilai yang ada dalam laporan keuangan belum sepenuhnya menjadi acuan investor dalam mengukur kinerja perusahaan, karena nilai yang disajikan merupakan hasil dari kinerja historis di masa lalu bukan nilai pasar pada saat ini. Analis keuangan telah mengembangkan konsep pengukuran kinerja keuangan menggunakan Nilai Tambah Ekonomi (NTE) dan Nilai Tambah Pasar (NTP). NTE dan NTP merupakan alat ukur kinerja perusahaan yang lebih valid. Keseriusan perusahaan dalam pengungkapan emisi karbon merupakan nilai tambah bagi investor, menandakan perusahaan mampu berkomitmen terhadap keberlangsungan usaha. Penelitian ini bertujuan untuk menguji pengaruh antara Pengungkapan emisi karbon, nilai tambah ekonomi serta nilai tambah pasar terhadap hasil saham yang tidak seimbang. Metode pengumpulan data dalam penelitian ini menggunakan observasi non partisipan yang bersumber dari laporan tahunan dan laporan keberlanjutan emiten. Penelitian ini menggunakan alat analisis regresi linier berganda. Sampel penelitian ini yaitu perusahaan yang masuk indeks SRI-KEHATI secara beruntun dari tahun 2016 sampai tahun 2020. Hasil menunjukkan bahwa Pengungkapan emisi karbon dan nilai tambah pasar berpengaruh positif terhadap imbal hasil saham, sedangkan nilai tambah ekonomi berpengaruh negatif terhadap imbal hasil saham.

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Economic Value Added (EVA) and Market Value Added (MVA) Implications on Stock Returns

Cited by 7 publications

References 0 publications

Untitled

Untitled

La relación del valor económico agregado (EVA) y el retorno del mercado accionario colombiano 2009 al 2020

Pengungkapan Emisi Karbon, Nilai Tambah Ekonomi dan Pasar terhadap Imbal Hasil Saham

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