PENGARUH EVA, ROE, DAN MVA TERHADAP HARGA SAHAM PADA PERUSAHAAN FARMASI YANG TERDAFTAR DI BEI

Abstract

This research aimed to find out, examine, and analyze the effect of Economic Value Added (EVA),
Return on Equity (ROE), dan Market Value Added (MVA) on the stock price at the pharmaceutical
companies listed on the Indonesia Stock Exchange (IDX) during 2017-2021. The research was
causal-comparative with a quantitative approach. Moreover, the data collection technique used a
purposive sampling technique, in which the sample was based on the determine criteria. The
population was 11 pharmaceutical companies. Furthermore, there were 7 companies that were listed
on the IDX during 2017-2021 as the sample. They were PT Kalbe Farma Tbk, PT Kimia Farma Tbk,
PT Tempo Scan Pacific Tbk, PT Darya-Varia Laboratoria Tbk, PT Merck Tbk, PT Pyridam Farma Tbk
and PT Industri Jamu dan Farmasi Sido Muncul Tbk. Additionally, the data analysis technique used
multiple linear regressions with SPSS 26. The result showed that Market Value Added (MVA) had a
positive and significant effect on the stock Prince. However, both Economic Value Added (EVA) and
Return on Equity (ROE) had a negative and insignificant effect on the stock price. In addition, the
company should be more focused on the performance of Market Value Added (MVA) to increase the
stock price.