Abstract
<em>Oil and gas are non-renewable natural resources, whick means they can be exhausted within a certain periode of time, if no new reserves of oil and natural gas resources are found. Energy, especially oil and gas, is very limited amount, but the world’s needs for oil and gas are currently increasing, so making investments in the oil and gas mining subsector will be an attractive choice for investors. World demand of oil and gas increases, while the limited its availability in each country has caused fluctuations in its exports and imports. They face a difficult assessment of the company performance in this subsector. Therefore, we need an analysis of the financial performance in oil and gas mining subsector companies as a tool to assess how the performance of the in this area. Economic value-added (EVA) method is one of the right measurement tools to assess the performance of companies in the mining sector. The aim of this study is to determine the financial performance of companies by using the EVA (economic value-added) method in the oil and gas subsector companies listed on the ISSI (Indonesian Sharia Stock Index) in period 2013-2017. The calculation of EVA value of a company is preceded by determining the value of Net Operating Profit After Tax (NOPAT), Weighted Average Cost of Capital (WACC), capital charges (CC), and invested capital (IC) from data that has been collected in the secondary sources. Four companies in oil and gas mining subsector listed on the Indonesia Sharia Stock Index (ISSI) were analyzed in this research. The results showed that two companies have positive EVA, while rest of two companies have positive and negatif EVA in certain years. A positive EVA means that there is an economic added-value to the company.</em>
Highlights
The results showed that two companies have positive economic value-added (EVA), while rest of two companies have positive and negatif EVA in certain years
Economic Value Added sebagai Ukuran Keberhasilan Kinerja Manajemen Perusahaan
Summary
Sebagian kalangan menyebut minyak bumi (petroleum) sebagai emas hitam, sedangkan gas alam diartikan sebagai bahan bakar fosil yang berbentuk gas. Minyak dan gas bumi merupakan komoditi yang menjadi kebutuhan pokok manusia, baik untuk kehidupan sehari-hari maupun untuk kegiatan industri. Potensi sumber daya minyak dan gas bumi masih cukup menjanjikan, yaitu terakumulasi dalam 60 cekungan sedimen (daerah cekungan endapan mineral tertentu, seperti batuan sedimen dan karena konfigurasinya diperkirakan menjadi tempat penampungan minyak bumi) yang tersebar di hampir seluruh wilayah Indonesia (Ismanto dan Asmara, 2017:12). Dari cekungan yang telah dieksplorasi, 16 cekungan telah memproduksi hidrokarbon, yaitu senyawa yang terdiri atas unsur karbon (C) dan unsur hidrogen (H), sedangkan 22 cekungan yang belum dieksplorasi berlokasi di laut dalam, terutama di wilayah Indonesia Timur. Kekayaan alam Indonesia sebagian besar dikelola oleh perusahaanperusahaan migas dari negara-negara asing (Agustinus, 2017)
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
