PENGARUH KINERJA KEUANGAN BERDASARKAN RETURN ON INVESTMENT, ASSET TURNOVER, DAN ECONOMIC VALUE ADDED TERHADAP INVESTASI AKTIVA TETAP

Abstract

This study aims to determine the influence offinancial performance with the investment on fixed assets. Fixed assets are "the earning assets" which is assets that can generate income so that the company will gain "earning power". Therefore, investment in fixed assets is very important and must be considered as well aspossible by managers. In this research, financialperformance is measured using the 3 variables, the Return on Investment (ROI), Asset Turnover (A TO), and Economic Value Added (EVA). Measuring the performance of financial companies based on financial reports of the company during the period of 2007. The investment of fixed assets is measured by reducing the book value offixed assets in the year 2008 to the book value offixed assets in 2007. The population of this research is 151 manufacturing companies listed in Indonesia Stock Exchange (BEI) period in 2007 and 2008. From that population is obtained 69 sample companies. The sample is selected using the purposive sampling method. The Method used to analyze data is by using the multiple regressions. The results from this research show that the analysis of financial performance using EVA affect the increase of investment on fixed asset. Other financial performance analysis tool that is ROI and A TO does not affect the increase infixed assets. Keywords: Return on Investment, Asset Turnover, Economic Value Added and Investment on Fixed assets.