THE INFLUENCE OF ECONOMIC VALUE ADDED (EVA) AND MARKET VALUE ADDED (MVA) ON STOCK RETURNS IN FOOD AND BEVERAGE COMPANIES LISTED ON THE INDONESIAN STOCK EXCHANGE IN 2017-2020

This study analyze the factors that affect stock returns in food and beverages companies listed on the Indonesia Stock Exchange (IDX) for the 2017-2020 period. The variables in this study are Economic Value Added (EVA) and Market Value Added (MVA).

This research was conducted using multiple linear regression analysis. The data collection tools used are literature study and documentation with purposive sampling method. The sample used in this study were 12 companies from a total population of 30 companies.

The results of this study indicate that Market Value Added (MVA) variables have a negative but not significant effect on stock returns. If the EVA and MVA values increase, stock returns will decrease with an insignificant value in food and beverages sub-sector companies listed on the Indonesia Stock Exchange (BEI) for the 2017-2020 period and vice versa.