Reza Palevi Alren, . (2025) PENGARUH PROFITABILITAS, SOLVABILITAS, DAN EFISIENSI TERHADAP ECONOMIC VALUE ADDED (EVA) DENGAN MEDIASI INOVASI TEKNOLOGI. Tesis thesis, Universitas Pembangunan Nasional Veteran Jakarta.
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Abstract
This study aims to examine how profitability (Return on Assets/ROA), solvency (Debt-to- Equity Ratio/DER), and operating efficiency (Operating Expense Ratio/OER) affect Economic Value Added (EVA) in Indonesian elecommunications firms, while also testing whether capital expenditure (CAPEX) serves as a technological-innovation mediator. Secondary data from nine listed operators on the Indonesia Stock Exchange for 2018-2023 produce 54 balanced-panel observations. Panel-regression analysis employs a Fixed-Effect model for the CAPEX equation and a Random-Effect model for the EVA equation. CAPEX mediation is assessed with the Sobel test. The results show that ROA, DER, OER, and CAPEX jointly explain 78.7 % of EVA variation (Prob F < 0.01). Individually, OER has a significant negative impact on EVA, while CAPEX has a strong positive impact; ROA and DER are statistically insignificant. The Sobel test confirms that CAPEX does not mediate the relationships of ROA-EVA, DER-EVA, or OER-EVA. These findings indicate that economic value creation in the telecommunications sector is driven more by stringent cost efficiency and well-targeted capital investments than by accounting profitability or leverage levels alone. Management should therefore prioritize reducing OER— through measures such as network sharing and process digitization—and adopt EVA-based project appraisal to maximize shareholder value.
| Item Type: | Thesis (Tesis) |
|---|---|
| Additional Information: | [No.Panggil: 2310121007] [Pembimbing : Sri Mulyantini] [Ketua Penguji : Erna Hernawati] [Penguji 1 : Dewi Cahyani Pangestuti |
| Uncontrolled Keywords: | Profitability, Solvency, Efficiency, Economic Value Added, Capital Expenditure, Technological Innovation, Telecommunication Companies |
| Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management H Social Sciences > HG Finance |
| Divisions: | Fakultas Ekonomi dan Bisnis > Program Studi Manajemen (S2) |
| Depositing User: | REZA PALEVI ALREN |
| Date Deposited: | 25 Jul 2025 01:28 |
| Last Modified: | 11 Aug 2025 02:48 |
| URI: | http://repository.upnvj.ac.id/id/eprint/38419 |
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