Effect of Economic Value Added (EVA), Market Value Added (MVA), Return on Equity (ROE), and Debt to Equity Ratio (DER) on Share Return
(Study on Heavy Construction & Civil Engineering Companies Listed on the Indonesia Stock Exchange)
Keywords:
Debt to Equity Ratio, Economic Value-Added, Market Value-Added, Return On Equity, Stock ReturnAbstract
This study aims to determine the effect of Economic Value Added (EVA), Market Value Added (MVA), Return on Equity (ROE), and Debt to Equity Ratio (DER) on stock returns. This study was quantitative. The nature of this research is associative-causal. The research population is 23 heavy construction and civil engineering companies on the Indonesia Stock Exchange from 2014-2021. A purposive sampling sample is 12 companies obtained using research samples. The analytical method used was panel data regression analysis, which was processed using the Eviews 9 application. Based on the results of the study, Economic Value Added (EVA) and the debt-to-equity ratio have a negative and insignificant effect on stock returns. Meanwhile, market value-added has a positive and significant effect on stock returns. On the other hand, Return On Equity (ROE) has a positive and insignificant effect on stock returns.
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