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All Journal El Dinar Media Trend: Berkala Kajian Ekonomi dan Studi Pembangunan Al Qalam: Jurnal Ilmiah Keagamaan dan Kemasyarakatan JURNAL PENDIDIKAN TAMBUSAI Journal of Humanities and Social Studies Jurnal Sains dan Teknologi Rayah Al Islam : Jurnal Ilmu Islam RESLAJ: RELIGION EDUCATION SOCIAL LAA ROIBA JOURNAL Jurnal Manajemen Pendidikan dan Ilmu Sosial (JMPIS) Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) Quantitative Economics and Management Studies AL-FALAH : Journal of Islamic Economics EMBISS: Jurnal Ekonomi, Manajemen, Bisnis, Sosial Journal La Sociale JURNAL MANAJEMEN AKUNTANSI (JUMSI) Movere Journal Islamiconomic: Jurnal Ekonomi Islam Al-Tijary : Jurnal Ekonomi dan Bisnis Islam Mamangan Social Science Journal
Batubara, Maryam
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Religion Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Physics Social Sciences Other

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Journal : Islamiconomic: Jurnal Ekonomi Islam

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Comparative Analysis of Financial Performance of Firms Listed on the Jakarta Islamic Index Ariska, Ella; Batubara, Maryam; Syahriza, Rahmi
ISLAMICONOMIC: Jurnal Ekonomi Islam Vol 15, No 2 (2024): (Issue in Progress)
Publisher : Universitas Islam Negeri Sultan Maulana Hasanuddin Banten

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32678/ijei.v15i2.751

Abstract

In the context of evaluating company performance, both Economic Value Added (EVA) and Financial Value Added (FVA) provide a comprehensive measure that goes beyond traditional financial ratios, incorporating aspects of value creation for investors and stakeholders. This study aims to address the inconsistencies found in previous research by examining the performance of companies listed on the Jakarta Islamic Index (JII) using EVA and FVA methods. The research employs a quantitative descriptive approach, analyzing data from companies listed on the JII, accessible via the IDX.co.id website. The EVA analysis results for these companies reveal a positive significance, indicating that they are capable of delivering added value to investors. Similarly, the FVA analysis also shows a positive significance, suggesting that companies can enhance investor value, particularly through efficient management of depreciation expenses, which can increase the FVA value. A T-test was conducted to compare the financial performance using EVA and FVA methods, and the results indicate a significant difference between the two, suggesting that the variances are not the same. Both EVA and FVA calculations yield positive results, indicating strong financial performance for the companies analyzed. Notably, the FVA values are found to be greater than the EVA values, underscoring the potential for greater value creation from a financial standpoint. This study contributes to the understanding of how different performance measures can provide insights into company value creation, offering a more nuanced view of financial health for companies listed on the Jakarta Islamic Index.
Co-Authors Adlia Yuannisa, Rizka Ahmadi Bi Rahmani, Nur Al Masri, Anas Zahir Andiyanto, Sakti Ariska, Ella Batubara, Yennika Bi Rahmani, Nur Ahmadi Fakhri, Muhammad Hafizhan Fitri, Mulyana Gaja, Enita Indramayani Hafizhulluthfi, Iyad Hanafi Hamonangan, Muhammad Hasibuan, Indra Mualim Hasibuan, Reni Ria Armayani Hsb, Rahmad Raja Martua Jambak, Putri Andriani Marliyah, Marliyah Muhammad Arif Muhammad Lathief Ilhamy Nasution Muhammad Yafiz, Muhammad Munandar, Arief Najiyah, Chindy Jihan Nasution, Hastiani Nasution, Inayatul Widad Nasution, Juliana Nasution, Muhammad Idris Nasution, Rizka Nurlaila Okta Distira, Muhammad Feri Oktadistira, Muhammad Feri Pranoto, Jiko Rahma, Aulia Rahmani, Nur Ahmadi Bi Rahmi Syahriza, Rahmi Ramlan, H. Rangkuti, Laila Rahmayuni Samri Juliati Nasution, Yenni Saputra, Jaka Sirait, Frida Yanti Syahputra, Zulian Taufiq Taufiq Wati, Patma Yuni Lubis, Syafrina