PENDEKATAN MODEL PENILAIAN DALAM PENGAMBILAN KEPUTUSAN INVESTASI SAHAM DI BURSA EFEK INDONESIA

• Main Authors: Sri Isworo Ediningsih, Aryono Yacobus
• Format: Article
• Language: English
• Published: Universitas Merdeka Malang 2017-03-01
• Series: Jurnal Keuangan dan Perbankan
• Subjects: valuation model, undervalue, overvalue, dividend yield, retained earnings, book value, total debt, stock price
• Online Access: http://jurnal.unmer.ac.id/index.php/jkdp/article/view/1077

A valuation model was a mechanism that converted a set of forecast, a series of company and economic variablesinto a forecast of market value for the company’s stock. The purpose of this study was to examine relevance amongdividend yield, retained earnings, book value and total debt on stock price: approximation valuation model in theIndonesia Stock Exchange. Samples in this study were manufacture firms listed on the Indonesia Stock Exchangeperiod 2008–2011 and divided dividend. The results showed that few of samples were undervalue and the otherswere overvalue. It meant valuation model could be applicated in the Indonesian stock exchange. By using multipleregressions, this study found that: valuation model relevans used in investment decission in manufacturefirms in the Indonesia Stock Exchange could prove simultaneously dividend yield, retained earnings, book valueand total debt had significant effect to stock price and partially dividend yield had no significant effect to stockprice and whereas retained earnings, book value and total debt had significant effect in partial to stock price.