Analisis Perbandingan Kinerja Keuangan Perusahaan Ritel Sebelum dan Sesudah Maraknya Bisnis Online Starup Unicorn dengan Menggunakan Metode Economic Value Added, Market Value Added dan Finance Value Added

Abstract

Abstract. This study aims to determine the financial performance by using economic value added, market value added methods, finance value added before the rise of Unicorn online business, to find out financial performance by using economic value added, market value added, finance value added after the rise of online Unicorn businesses , to find out whether there are differences in financial performance using the economic value added, market value added methods, finance value added before and after the rise of the Unicorn online business. The research method used is comparative. The population in this study are retail companies that have been listed on the Stock Exchange for the period 2013-2017, and 15 companies have taken samples that meet the selection criteria of the sample with a purposive sampling technique. The data analysis technique used in this study was the independent sample t-test. The results showed that the financial performance with the economic value added method before and after the rise of Unicorn online business occurred a decline in the average value of EVA. Financial performance with the market value added method before and after the rise of Unicorn online business has increased the MVA average value. Financial performance with the finance value added method before and after the rise of Unicorn online business has increased the average FVA decline. The results of hypothesis testing with independent sample t-test show that there is no difference in the value of EVA, MVA, FVA before and after the rise of online Unicorn businesses.

Keywords: Economic Value Added, Market Value Added, Finance Value Added, Unicorn.

Abstrak. Penelitian ini bertujuan untuk mengetahui kinerja keuangan dengan menggunakan metode economic value added, market value added, finance value added sebelum maraknya bisnis online Unicorn, untuk mengetahui kinerja keuangan dengan menggunakan metode economic value added, market value added, finance value added setelah maraknya bisnis online Unicorn, untuk mengetahui apakah terdapat perbedaan kinerja keuangan dengan menggunakan metode economic value added, market value added, finance value added sebelum dan setelah maraknya bisnis online Unicorn. Metode penelitian yang digunakan adalah komparatif. Populasi dalam penelitian ini yaitu perusahaan ritel yang telah terdaftar di BEI periode 2013-2017, dan sampel yang diambil sebanyak 15 perusahaan yang memenuhi kriteria pemilihan sampel dengan teknik purposive sampling. Teknik analisis data yang digunakan dalam penelitian ini adalah uji independent sample t-test. Hasil penelitian menunjukan bahwa kinerja keuangan dengan metode economic value added sebelum dan setelah maraknya bisnis online Unicorn terjadi penurunan nilai rata-rata EVA. Kinerja keuangan dengan metode market value added sebelum dan setelah maraknya bisnis online Unicorn terjadi kenaikan nilai rata-rata MVA. Kinerja keuangan dengan metode finance value added sebelum dan setelah maraknya bisnis online Unicorn terjadi kenaikan penurunan rata-rata FVA. Hasil uji hipotesis dengan independent sample t-test menunjukan tidak terdapat perbedaan nilai EVA, MVA, FVA sebelum dan setelah maraknya bisnis online Unicorn.

Kata Kunci :        Economic Value Added, Market Value Added, Finance Value Added, Unicorn