Pengaruh Penilaian Kinerja dengan ROI dan EVA terhadap Return Saham pada Perusahaan yang Tergabung dalam Indeks LQ 45 di Bursa Efek Indonesia

Abstract

There have been many investors who invest funds in certain companies. The
purpose of the investment is to obtain the expected stock return. Investors, in
investing certainly needs to look at whether the company will be turned into
investment activity to perform well or not, because only companies that have good
performance that can provide the expected stock return. This research aims to
determine the effect of performance appraisal with the ROI and EVA on stock
returns. Sampling using purposive sampling techniques, the sample used is a
company incorporated in the LQ 45 index with period of August 2008 - January
2009 and not included in the banking sector. This research uses secondary data,
secondary data is financial statements in 2022-2023 of companies that were visited
in this research. Analytical model used to test the hypothesis is Moderated
Regression Analysis. Analysis conducted with the help of SPSS program. The
results showed in partial ROI and EVA no effect on stock returns. Simultaneously,
ROI and EVA variables also have no effect on stock returns. This is because stock
prices are influenced by other factors beyond the company's performance
measurement, among other factors of global economic conditions.