ANALISIS PERBANDINGAN KINERJA KEUANGAN SYARIAH PERUSAHAAN NON MANUFAKTUR DI JAKARTA ISLAMIC INDEX (JII) MENGGUNAKAN METODE MARKET VALUE ADDED (MVA) DAN FINANCIAL VALUE ADDED (FVA)

Abstract: This study aims to identify, analyze and compare the value of Islamic
financial performance of non-manufacturing sector companies listed on JII during the period
2016 to 2020. This study a comparative quantitative method. Data used form secondary data
the company's official website. The samples from: PT Telekomunikasi Indonesia, PT XL
Axiata, PT Media Citra Nusantara, and PT Surya Citra Media. Data analysis was carried
out by calculating the ratio using MVA and FVA methods. The results of this study indicate
that in the MVA calculation there are three companies that have always positive results for
five periods and one company experienced negative results in 2018 at PT Media Citra
Nusantara Tbk. Meanwhile, in the FVA calculation, there are three companies that have had
positive results over the last five periods and there is one company that experienced negative
values in 2018 to 2019 at PT XL Axiata Tbk. For comparison of MVA values in nonmanufacturing companies in the Jakarta Islamic Index (JII) there is a positive difference in 3
companies and a negative difference in one company. Meanwhile, for the comparison of FVA
values, there are positive differences in three companies and negative differences in one
company.
Keyword : Financial Performance, Comparison, MVA, FVA