Financial Performance Based on Financial Value Added of BUMN Companies Listed in Jakarta Islamic Index
Keywords:
Financial Performance, Financial Value Added, JIIAbstract
The presence of the capital market is important in helping the country's economy. The capital market is a tool to raise or reduce funds, both foreign and domestic. In particular, in the practice of conventional economic activities in the capital market, there are some contemplations that violate Islamic financial principles. The financial instruments used and the transaction process distinguish the conventional capital market from the Islamic capital market. On the other hand, issuers must know the difference between the Islamic stock index and the conventional stock index as a standard stock that must be achieved.
To generate added value for investors, businesses must perform well compared to their shareholders' expectations. The performance of a business is reflected in its financial statements, which include earnings and cash flow from operations. Financial analysis tools are used as an assessment of financial performance in the company. One of the financial analysis tools is financial statements. Economic Value Added and Financial Value Added are used to analyze financial statements.
This paper uses quantitative descriptive methodology. The data used in the study is secondary data sourced from OJK. The sample in the study was BUMN companies listed on the Jakarta Islamic Index (JII) in 2018-2022. The results showed that the value of Financaial Value Added at PT Telkom Indonesia (Persero) Tbk. was declared good, with an average value of 540,44. PT Aneka Tambang (Persero) Tbk. declared good, with an average value of 629,86. PT Semen Indonesia (Persero) Tbk. declared good, by obtaining an average value of 808,26. PT Bank Syariah Indonesia Tbk. declared good with an average value of 268,72.
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