PENGARUH EARNINGS PER SHARE, ARUS KAS OPERASI, MARKET VALUE ADDED, DAN ECONOMIC VALUE ADDED TERHADAP RETURN SAHAM (Pada Perusahaan Telekomunikasi yang Listed di BEI)

Abstract

Performance measurement is one of tool to evaluate successness in organization activity will be impacting for deceasion making. The variety of measurer variables will make managers is more accurately and comprehensively in measure. The measure that is used in performance statement for corporation that purposes its stake holders. Properly, have influence directly toward return per share, because unoppropriate each usage measurement tool will be creating the unreal result so that performance statement is not significant, too.

The research purpose to examine independent varibles that are involving Earning Per Share (EPS), operational cash flow, market velue added (MVA), Economic Value Added (EVA) simultanously and partially toward return per share as dependent variable. The research had been involving Telecomunication Corporation listed in Indonesia Stock Exchange from 2003 until 2007 as time periods. The sample use purposive sampling methods. Data analysis used economic test and hypothesis examined by multiple regression test.

The results show that partially only operational cash flow variable have positively influence toward return per share. And other variables that are earning per share, market value added, and economic value added not influence toward return per share. Independent variables simultanously are including Earning Per Share (EPS), operational cash flow, market value added influencing toward return per share as dependent variable.