The Influence of Economic Value Added (Eva), Market Value Added (Mva) And Reference Coal Prices On Stock Returns In Coal Sub-Sector Mining Companies

Abstract

This study aims to determine the effect of Economic Value Added (EVA), Market Value Added (MVA), and Reference Coal Prices (HBA) on Stock Returns in coal sub-sector mining companies. This research uses quantitative methods. The data used in this study are secondary data in the form of financial reports obtained from the website www.idx.co.id and the website of each company. The population in this study were coal subsector mining companies listed on the Indonesia Stock Exchange (IDX) in 2013-2022 as many as 9 companies obtained by purposive sampling. The analysis method used in this research is multiple linear regression analysis with IBM SPSS Statistics 26 software. The results of this study indicate that partially the Market Value Addde variable has a significant effect on stock returns with a sig value of 0.35 <0.05, while the Economic Value Added and Reference Coal Price variables have no effect on stock returns with sig values of 0.278> 0.05 and 0.168> 0.05, respectively. Simultaneously, Economic Value Added, Market Value Added, and Reference Coal Price affect stock returns