Analisis fundamental untuk menilai kewajaran harga saham dengan pendekatan dividend discount model dan price earning ratio: Studi pada perusahaan sub sektor semen yang terdaftar di Bursa Efek Indonesia periode 2012 – 2015

Brilian, Himawan Setyo (2017) Analisis fundamental untuk menilai kewajaran harga saham dengan pendekatan dividend discount model dan price earning ratio: Studi pada perusahaan sub sektor semen yang terdaftar di Bursa Efek Indonesia periode 2012 – 2015. Undergraduate thesis, Universitas Islam Negeri Maulana Malik Ibrahim.

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Abstract

INDONESIA:

Seorang investor sebagai pihak yang menanamkan modal pada suatu perusahaan tentunya berharap memperoleh keuntungan dari kegiatannya tersebut. Untuk menilai kewajaran harga saham terdapat dua teknik yaitu analisis fundamental dengan pendekatan Dividend Discount Model dan Price Earning Ratio. Penelitian ini bertujuan untuk mengetahui nilai wajar harga saham perusahaan sub sektor semen yang terdaftar di Bursa Efek Indonesia Periode 2012- 2015 dengan menggunakan analisis fundamental dengan pendekatan Dividen Discount Model dan Price Earning Ratio.

Penelitian ini menggunakan metode deskriptif dengan pendekatan kuantitatif. Data sekunder yang digunakan dalam penelitian ini yaitu laporan keuangan perusahaan sub sektor semen dan harga penutupan saham per tahun. Penelitian ini menggunakan teknik analisis data berupa perhitungan rasio keuangan serta menggunakan rumus Dividend Discount Model dan Price Earning Ratio perusahaan sub sektor semen.

Hasil penelitian menunjukan selama periode tahun 2012-2015 dengan metode Dividend Discount Model pertumbuhan konstan menunjukkan saham mengalami undervalued yaitu emiten SMGR, INTP, dan SMCB. Dividend Discount Model pertumbuhan nol menunjukkan saham mengalami overvalued yaitu emiten SMGR, INTP, dan SMCB. Dividend Discount Model pertumbuhan tidak konstan menunjukkan saham mengalami undervalued yaitu emiten SMGR, INTP, dan SMCB. Metode Price Earning Ratio menunjukkan saham mengalami undervalued yaitu emiten SMGR, INTP, dan SMCB.

ENGLISH:

An investor as third parties who investing in company expect to benefit from his activities. Valuation fair value of stock prices consists of two technique ie fundamental analysis with Dividend Discount Model Approach and Price Earning Ratio. This research aims to valuation fair value of stock prices in companies of cement sub sector which is listed in Indonesia Stock Exchange with period 2012-2015 using fundamental analysis with Dividend Discount Model Approach and Price Earning Ratio.

This research using descriptive method with quantitative approach. Secondary data this research are financial statement of cement sub sector companies and closing prices of stock annually. This research using data analysis technique in the form financial ratio calculation and using Dividend Discount Model formula and Price Earning Ratio cement sub sector companies.

The results showed that during the period of 2012-2015 with the Dividend Discount Model method, the constant growth showed shares in undervalued, namely SMGR, INTP, and SMCB issuers. Dividend Discount model of the zero growth showed stocks in overvalued, namely SMGR, INTP, and SMCB issuers. Dividend Discount model, the growth was not constant that was showing the undervalued stocks, namely SMGR, INTP, and SMCB issuers. The Price Earning Ratio method showed the undervalued shares, namely SMGR, INTP, and SMCB issuers.

Item Type: Thesis (Undergraduate)
Supervisor: Sucipto, Agus
Keywords: Dividend Discount Model; Price Earning Ratio; Nilai kewajaran; Harga saham; Dividend Discount Model; Price Earning Ratio; Fair Value; Stock Prices
Departement: Fakultas Ekonomi > Jurusan Manajemen
Depositing User: Durrotun Nafisah
Date Deposited: 27 Jul 2018 08:19
Last Modified: 27 Jul 2018 08:19
URI: http://etheses.uin-malang.ac.id/id/eprint/11415

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