Pengaruh Rasio Profitabilitas, Economic Value Added dan Market Value Added Terhadap Return Saham Perusahaan Perkebunan yang Listing di Bursa Efek Indonesia

2

2

2

2

2


























































































































































































































































































Astra Agro Lestari Tbk

BW Plantation Tbk

Gozco Plantation Tbk

Jaya Agra Wattie Tbk

PP London Sumatera Indonesia Tbk

Sampoerna Agro Tbk

Salim Ivomas Pratama Tbk

Sinar Mas Agro Resources and
Technology Tbk

Tunas Baru Lampung Tbk

68
Universitas Sumatera Utara





























Bakrie Sumatera Plantation Tbk

Lampiran 1
Daftar populasi dan sampel penelitian

Lampiran 2
Sampel Penelitian
No.

Kode

Nama Perusahaan

1

AALI

Astra Agro Lestari Tbk

2

BWPT

BW Plantation Tbk

3

GZCO

Gozco Plantation Tbk

4

LSIP

PP London Sumatera
Indonesia Tbk

5

SGRO

Sampoerna Agro Tbk

6

SMAR

Sinar Mas Agro Resources
and Technology Tbk

7

TBLA

Tunas Baru Lampung Tbk

8

UNSP

Bakrie Sumatera Plantation
Tbk

69
Universitas Sumatera Utara



Lampiran 3
Data Variabel Penelitian
RE
T
U
R
N

K
N

MVA

A

1

B

2

G

3

L
4

S

5

ROE

RO
I

69826
90
00
00

0,279
6
5
4
4

0,2

98368
83
00
0

0,215
7
9
8
5
7

0,0

39583
01
53
2

0,137
3
4
2
0
5

0,0

52634
92
50
00

0,226
9
0
0
5
7

0,1

17461
76
25
00

0,214
4
7
7
5
4

0,1

2
9
3
9
3

9
2
0
7

7
6
7
2
4

8
5
8
0
3
5
9
0
2
1

EVA

2,5784
4E
+1
2

6,2878
8E
+1
1

1,7037
7E
+1
1

1,8211
5E
+1
2

2,4557
E+
11

S
A
H
A
M
0
,
0
6
4
2
9
0
,
4
2
8
5
7
0
,
2
6
3
3
7
0,2
0
6
5
7
3
0
,
0
7
9
7
70

Universitas Sumatera Utara

S

76800
00
0

0,216
2
2
2
5
1

0,1

12126
75
00
0

0,199
8
5
9
9

0,0

33843
00
00
00

0,096
8
4
9
1
1
0,296
5
2
4
8
9

0,0

73778
94
72
3

2,246
9
1
4
0
8

0,8

34008
96
00

0,111
4
6
9
8
9

0,0

94159
25
00
0

0,291
3
8
3
7

0,2

6

T

7

U
8

A

9

B

1

G

75578
00
00
0

1

L
1

0
1
0
3
8

6
7
5
5
8

4
3
5
4
2
0,2
4
4
8
4
9

9
2
6
8
7

5
9
2
6
7

5
0
5
2

32633
06
30
00

2,0174
1E
+1
1

1
0
,
1
6
6
6
7
0
,
3
4
9
2
1

3,6948
1E
+1
2

44992
17
10
00

21622
28
10
01

3,5843
9E
+1
1

1,0319
8E
+1
1

6,8
0
,
1
7
1
7
6
0
,
1
3
1
5
3
0
,
3
8
5
4
7
0
,
1
71

Universitas Sumatera Utara

2

S

1

S
1

T
1

U

1

A

1

B
1

G
1

60522
75
00
0

0,219
8
5
2
0
7

0,1

86800
00
0

2,434
3
7
0
0
2
0,262
0
0
6
5
1

0,1

79803
45
00
0

0,082
3
0
7

0,0

57897
60
00
00

0,261
9
9
1
0
6

0,1

89450
44
50
0

0,157
3
5
6
1
7

0,0

10601
50
00
0

0,061
5
0
7
5
2

0,0

55032
75
00

6
1
1
0
2

2
1
2
9
8
0,0
9
9
2
1
4
3
9
8
6
1

9
7
5
6

5
3
3
6
6
3
0
8
7
7

54059
52
20
00

2
4
5
1
0
,
0
6
2
9
9

13598
80
32
4

13697
46
10
00

56251
07
56
8

34860
87
20
00

34245
83
80
00

64391
91
50
00

0,2
8
0,4
3
9
0
2
4
0
,
2
6
9
2
3
0
,
0
9
2
1
7
0,2
3
2
0
0
9
0
,
0
9
72

Universitas Sumatera Utara

L
2

S

2

S

49781
60
00
00

0,177
6
4
1
7
2

0,1

70598
50
00
0

0,126
0
9
6
9

0,0

0

0,240
7
6
6
7
4

1,3

32850
00
00

0,138
5
4
3
6
5

0,0

92
55
05
00

0,134
8
9
3
1
6

0,0

24969
00
00
00

0,188
5
7
3
8
8

0,1

22229
24
70
02

0,083
2
0
4
2
2

0,0

2

T

2

U

2

A
2

B
2

4
7
7
1
8
8
1
2
7
4

2
4
6
6
5
4
6
9

5
6
2
3
9

2
9
4
0
1
2
9
3
1
8

2,9817
E+
11

70057
00
19
9

34591
81
35
5

21591
83
00
00

28239
23
24
00

2,2749
7E
+1
1

38963
98
56
8

0
9
1
0,0
2
2
2
2
2
0
,
1
5
9
6
6
0,0
2
3
4
3
8
0
,
1
6
9
4
9
0
,
6
7
3
6
8
0,2
7
4
1
1
2
0
,
0
3
5
73

Universitas Sumatera Utara

7
5
G
2

L

2

S
2

S
3

T

64680
00
0

0,063
7
5
6
5
7
0,116
2
1
2
1
6

0,2

0,044
6
0
7
8
8
0,137
6
6
9
3
3

0,0

69000
00
0

0,048
1
3
6
9
6

0,0

25
00
0

0,568
4
4
1
6
8

0,1

37919
25
00
00

0,218
3
4
4
0
8

0,1

24323
44
50
00

25326
00
00
0

16562
25
00
0

3

U

3

A

3

9
9
4
0
8
0,0
9
6
3
8
1

2
6
6
7
6
0,0
4
8
5
7

1
3
9
3
2

5
3
5
7
6

3
9
2
7
1

3,1694
7E
+1
1

58447
66
70
00

0
,
4
5
0
,
1
6
0
8
7

23477
90
89
9

3,9461
7E
+1
1

1,0710
4E
+1
1

56009
95
30
0

22272
24
60
00

-0,2
0,1
9
8
4
7
3
0
,
0
4
0
8
2
0
,
4
6
2
3
7
0
,
0
3
3
8
6
74

Universitas Sumatera Utara

B

3

G
3

L

3

S
3

S
3

T
3

U
4

17446
71
00
00

0,279
9
3
7
3
1

0,1

12697
44
00
0

0,032
8
1
6
6
4

0,0

31901
55
90
00

0,126
9
8
6
5
7

0,1

91200
00
00

0,116
0
2
9
9
8
0,185
5
8
1
2
5

0,0

13401
36
00
0

0,177
1
2
2
2
2

0,0

23
00
00

0,164
6
9
4
8
5

0,0

16116
00
00

1
8
7
2
1

1
5
7
7
9
0
5
9
1
3

6
4
0
4
1
0,0
6
9
2
5
5
5
9
5
6
3
3
9
2
2
7

73590
18
22
3

15432
37
35
80

39684
62
20
00

0
,
6
3
8
3
4
0,2
2
7
2
7
3
0
,
0
2
0
7
3

37052
59
60
00

77857
41
80
00

30540
92
72
7

0,0
5
0,0
3
1
8
4
7
0,6
0
6
3
8
3

86679
38
58

0

75
Universitas Sumatera Utara

Lampiran 4
HASIL UJI STATISTIK DESKRIPTIF

Descriptive Statistics

N

Range

Statisti
c
Statistic

Minimum

Maximu
m

Statistic

Statistic

Mean

Std.
Deviation

Varianc
e

Statistic

Statistic

Statistic

RETURN
SAHAM

40

7.47

-.67

6.80

.0916

1.12009

1.255

ROE

40

2.40

.03

2.43

.2846

.48774

.238

ROI

40

1.31

.01

1.32

.1543

.23752

.056

EVA

40 3.69E12

8.67E8 3.69E12 2.9471E1 7.38033E1 5.447E2
1
1
3

MVA

40 6.99E10

- 6.98E10 1.3000E1 1.83944E1 3.384E2
92550500.
0
0
0
00

Valid N
(listwise)

40

76
Universitas Sumatera Utara

Lampiran 5
HASIL UJI NORMALITAS

77
Universitas Sumatera Utara

Lampiran 6
HASIL UJI KOLMOGOROV-SMIRNOV

One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
Normal Parametersa,b

40
Mean
Std. Deviation

Most Extreme Differences

.0000000
.71164712

Absolute

.152

Positive

.118

Negative

-.152

Kolmogorov-Smirnov Z

.962

Asymp. Sig. (2-tailed)

.313

a. Test distribution is Normal.
b. Calculated from data.

78
Universitas Sumatera Utara

Lampiran 7
HASIL UJI MULTIKOLONIERITAS
Coefficientsa
Standardized
Unstandardized Coefficients
Model
1

B
(Constant)

Std. Error

Coefficients
Beta

Collinearity Statistics
Tolerance

VIF

-.074

.174

ROE

.091

.267

.040

.855

1.169

ROI

-.242

.546

-.051

.861

1.162

EVA

1.344E-12

.000

.886

.700

1.428

MVA

-1.687E-11

.000

-.277

.700

1.429

a. Dependent Variable: RETURN SAHAM

Lampiran 8
HASIL UJI HETEROKEDASTISITAS

79
Universitas Sumatera Utara

Lampiran 9
HASIL UJI AUTOKORELASI

Model Summaryb

Model

R

Std. Error of the

Square

Estimate

R Square
.772a

1

Adjusted R

.596

.550

Durbin-Watson

.75121

1.600

a. Predictors: (Constant), MVA, ROI, ROE, EVA
b. Dependent Variable: RETURN SAHAM

Lampiran 10
HASIL UJI HIPOTESIS
Coefficientsa

Model
1

Unstandardized

Standardized

Coefficients

Coefficients

B
(Constant)

Std. Error
-.074

.174

ROE

.091

.267

ROI

-.242

EVA
MVA

Beta

T

Sig.
-.425

.674

.040

.341

.735

.546

-.051

-.444

.660

1.344E-12

.000

.886

6.904

.000

-1.687E-11

.000

-.277

-2.158

.038

a. Dependent Variable: RETURN SAHAM

80
Universitas Sumatera Utara

Coefficientsa

Model
1

Unstandardized

Standardized

Coefficients

Coefficients

B
(Constant)

Std. Error
-.074

.174

ROE

.091

.267

ROI

-.242

EVA
MVA

Beta

T

Sig.
-.425

.674

.040

.341

.735

.546

-.051

-.444

.660

1.344E-12

.000

.886

6.904

.000

-1.687E-11

.000

-.277

-2.158

.038

ANOVAb
Model
1

Sum of Squares

Df

Mean Square

F

Regression

29.179

4

7.295

Residual

19.751

35

.564

Total

48.930

39

12.926

Sig.
.000a

a. Predictors: (Constant), MVA, ROI, ROE, EVA
b. Dependent Variable: RETURN SAHAM

81
Universitas Sumatera Utara

Lampiran 11
HASIL UJI KOEFISIEN DETERMINASI
Model Summaryb

Model
1

R

R Square
.772a

Adjusted R Square

.596

.550

Std. Error of the Estimate
.75121

a. Predictors: (Constant), MVA, ROI, ROE, EVA
b. Dependent Variable: RETURN SAHAM

82
Universitas Sumatera Utara

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