ABSTRAK

Pengaruh Working Capital Turnover, Economic Value Added, dan Market

Value Added Terhadap Market Capitalization Pada BUMN yang Terdaftar
Di BEI Periode 2009 - 2013
Penelitian ini bertujuan untuk mengetahui apakah Working Capital Turnover
(WCT), Economic Value Added (EVA), dan Market Value Added (MVA) secara
parsial dan simultan berpengaruh terhadap MarketCapitalization pada BUMN di
Bursa Efek Indonesia. Konsep ini membuktikan bahwa ukuran suatu perusahaan
tidak hanya bergantung pada laba dan kinerjanya, tapi juga pada kepuasan para
pemegang saham perusahaan tersebut
Penelitian ini merupakan jenis penelitian kausal dengan jumlah sampel sebanyak
20 BUMN yang terdaftar di Bursa Efek Indonesia selama periode 2009 2013.
Sampel yang digunakan adalah sampel jenuh. Data yang digunakan adalah data
sekunder yang diperoleh dari situs www.idx.co.id dan dari situs perusahaan yang
bersangkutan. Proses analisis data yang dilakukan terlebih dahulu adalah uji
asumsi klasik dan selanjutnya dilakukan pengujian hipotesis. Metode statistik
yang digunakan adalah regresi linear berganda.
Hasil penelitian menunjukkan bahwa secara parsial dan simultan, Economic Value
Added (EVA) dan Market Value Added (MVA) berpengaruh signifikan terhadap
Market Capitalization, sedangkan Working Capital Turnover tidak berpengaruh
secara signfikan terhadap Market Capitalization. Dari hasil penelitian ini dapat
disimpulkan bahwa kenaikan atau penurunan EVA dan MVA akan berpengaruh
terhadap kenaikan atau penurunan Market Cap.
Kata Kunci : Working Capital Turnover, Economic Value Added, Market
Value Added, Market Capitalization

ABSTRACT
The Effect of Working Capital Turnover, Economic Value Added, and Market
Value Added towards Market Capitalization in State-Owned Companies in
Indonesia Stock Exchange from 2009 2013
The purpose of this research is to know whether the Working Capital Turnover
(WCT), Economic Value Added (EVA), and Market Value Added (MVA) partially
and simultaneously affect the Market Capitalization at the State-Owned
Companies in the Indonesia Stock Exchange. This concept proves that companies
size not only depends on its profit and performance but also depends on
shareholder satisfaction.
This research is a kind of causal research with a total sample of 20 State-Owned
Companies listed in Indonesia Stock Exchange during the period 2009 to 2013.
This research used total population sampling . The data used are secondary data
obtained from the site www.idx.co.id and respective site of each sample
companies. The process of data analysis done first is to test the classic
assumption and hypothesis testing is then performed. Statistical methods used are
multiple linear regression analysis.
The results showed that partially and simultaneously, Economic Value Added
(EVA) and Market Value Added (MVA) have significant impact on Market
Capitalization, while Working Capital Turnover dont have significant impact on
Market Capitalization. From this research we can conclude that the increase or
decrease in EVA and MVA will affect the increase or decrease in Market Cap.
Keywords : Working Capital Turnover, Economic Value Added, Market
Value Added, Market Capitalization