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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