EFFECT OF CORPORATE FINANCIAL PERFORMANCE USING RATIO ANALYSIS AND FINANCIAL ANALYSIS BASED ON VALUE ADDED TOWARD STOCK RETURN IN SECTOR COMPANY OF CONSUMER GOOD ON THE IDX PERIOD 2004 – 2008

Abstract

This study was conducted to determine the condition of  company's financial performance using financial ratios and financial analysis based on value added and the impact on stock returns consumer goods sector company listed on the IDX period 2004-2008. From the research conducted, the result that the overall financial performance of the company measured by using two measures of financial performance that shows good condition with an increasing trend. The deteriorating financial condition in 2008 was as a result of the global financial crisis that also adversely affect the market perception of the company's stock performance in the sector.

Simultaneously, a significant difference between the financial ratios of the company (X₁) and financial analysis based value added (X₂) as a measure of financial performance of the company's stock return (Y) in the consumer goods sub-sector company listed on the IDX period 2004-2008, with a coefficient of determination of 60%. But partially only variable X₁ which financial ratios covering CR, DAR, NPM and PBV has a significant relationship to stock returns and have a greater influence than financial analysis based value added (which includes EVA and MVA).

Keywords: Financial performance, financial ratios, financial analysis based on value added and stock returns

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