Analisis Kinerja Keuangan Menggunakan Metode Economic Value Added dan Market Value Added pada PT Unilever Indonesia Tbk

Firza Ilma Madina; Noor Amelia; Try Edi Suwarno; Mufrida Zein

Articles

Analisis Kinerja Keuangan Menggunakan Metode Economic Value Added dan Market Value Added pada PT Unilever Indonesia Tbk

Firza Ilma Madina , Noor Amelia , Try Edi Suwarno , Mufrida Zein

Firza Ilma Madina — Politeknik Negeri Tanah Laut

Noor Amelia — Politeknik Negeri Tanah Laut

Try Edi Suwarno — Politeknik Negeri Tanah Laut

Mufrida Zein — Politeknik Negeri Tanah Laut

2026-06-30 Vol. 1 No. 1 (2026): Jurnal Ilmiah Akuntansi dan Perpajakan 1-10

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Abstract

Background: Traditional metrics often miss true economic value creation and market perception during crises. The direct impact of socio-political boycotts on these value metrics remains underexplored. Objective: This study aims to analyze the financial performance of PT Unilever Indonesia Tbk during the 2022–2024 period using Economic Value Added (EVA) and Market Value Added (MVA). Research Methods: This quantitative study analyzes secondary financial data for a single corporate entity over three years (2022–2024) and uses EVA and MVA valuation techniques. Research Results: The results show that while both EVA and MVA remained positive, they declined significantly annually. The sharpest decline occurred in 2024, driven largely by external pressure from product boycotts. Novelty: The novelty lies in examining the direct financial impact of a specific contemporary socio-political crisis, namely boycotts, on value-based performance metrics within a recent timeframe.

Keywords

EVA MVA PT Unilever Indonesia TBK Financial performance IDX

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