Economic Journal of Emerging Markets, 9(1) April 2017, 74-83 Economic Journal of Emerging Markets Available at http://journal.uii.ac.id/index.php/jep EJEM Econ. J. Emerg. Mark. Comparative economic value added on Southeast Asian banking industry Lintang Dewanti 1 , Rofikoh Rokhim 2* 1,2) Department of Management, Faculty of Economics and Business, Universitas Indonesia, Jakarta, Indonesia. * Corresponding E-mail: rofikoh.rokhim@ui.ac.id Article Info Article history: Received : 23 December 2016 Accepted : 20 March 2017 Published : 1 April 2017 Keywords: banks, EVA, stock return, EPS, ROA, ROE JEL Classification: G21, O53, N10, DOI: 10.20885/ejem.vol9.iss1.art8 Abstract This study analyses the bank's performance comparison across countries in some ASEAN members which are listed in the stock exchange, as well as to analyse the influence of Economic Value Added (EVA) and some financial ratios on the company stock return. Analysis suggests some results. In Indonesia, Thailand and the Philip- pines, the movement of EVA follows the movement of Gross Domestic Product (GDP). This study also finds that Earning per Share (EPS), only in Singapore, and Re- turn on Equity (ROE) and Return on Assets (ROA), only in the Philippines, have an influence on stock return. Only in the Philippines where EVA together with ROA has an effect on stock return. Abstrak Penelitian ini membahas perbandingan kinerja bank di beberapa negara anggota ASEAN yang tercatat di bursa saham, serta untuk menganalisis pengaruh Economic Value Added (EVA) dan beberapa rasio keuangan terhadap return saham perusahaan. Analisis menunjukkan beberapa hasil. Di Indonesia, Thailand dan Filipina, pergerakan EVA mengikuti pergerakan Produk Domestik Bruto (PDB). Studi ini menemukan bahwa Earning Per Share (EPS), hanya di Singapura, dan Return on Equity (ROE) dan Return on Assets (ROA), hanya di Filipina, memiliki pengaruh pada return saham. Hanya di Filipina EVA bersama-sama dengan ROA memiliki pengaruh atas return saham. Introduction Commercial bank is a bank that accepts deposits from customers and grant loans, such as commercial loans and real estate loans (Saunders & Cornett, 2011). Starting from this definition, a bank's survival de- pends on the ability of the bank ability to raise funds and manage of these funds to be disbursed as loans to the public (consumer) in the form of consumer loans and commercial loans. In the event of a disruption to both the form of customer deposits withdrawals simultaneously (rush) or loans that given to the debtor to be problematic, it will affect the liquidity of the bank, its worst effects the bank can go bankrupt (Saun- ders & Cornett, 2011). The global crisis of 2008 began as a result of the U.S. sub-prime mortgage collapse in the U.S. real estate industry. This causes financial industries were destroyed, with peaks of the crisis was Lehman Brothers filed for bankruptcy on September 15, 2008 so that its impact extends to the whole world (Indo- nesian Central Bank, 2010). Murtiyanti et al. (2015) mentions the importance of capital adequacy of bank- ing industry in Indonesia. The 2008 global crisis also has effects in some Southeast Asia countries, which can be traced from the drop in the stock price index in some countries such as Indonesia, Malaysia, Philippines, Thailand and Singapore which can be seen in Figure 1. Decline in the stock price index indicates a massive withdrawal primarily by corporate investors who are major players with funds on stock exchanges each country driven by the financial crisis in the United States in 2008’s fund lost. The withdrawal cause immediate impact on their respective stock ex- changes in each country is the decline in stock price index. In Figure 2 it can be seen that the exchange rate in the country of Indonesia, Malaysia, Philip- pines, Thailand and Singapore also experienced a big decline on the U.S. Dollar exchange rate against their own currency.