MODEL PENENTUAN HARGA SAHAM: PENGUJIAN CAPITAL ASSET PRICING MODEL MELALUI PENGUJIAN ECONOMIC VALUE ADDED

MODEL PENENTUAN HARGA SAHAM: PENGUJIAN CAPITAL ASSET PRICING MODEL MELALUI PENGUJIAN ECONOMIC VALUE ADDED

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This research tested the influence of characteristics of the firms and of EVA (Eco-nomic Value Added) to stock of returns.This Foot Rear Research sample was company Self-100 ValueCreator of year 2001 until 2006.Result of research indicated that company size measure,profitability, capital structure (characteristics of the firms ) and EVA by stimulant had aneffect on significant to stock of returns, but by partial only characteristics company.

Condi-tion of company fundamentals had an effect on significance to stock of returns.This indica-tion that investor still considered factors of fundamentals was having investment.EVA didnot have an effect on significant to stock of returns.

This finding indicated that Model deter-mination of stock of returns Figure Skating - Accessories - Fashion (CAPM Irrelevant determined the level of EVA and also indicatedthat CAPM (Capital Assets Pricing Model) was not relevant in determining stock of returns inIndonesian Stock Exchange.