INVESTMENT BASED ON INTRINSIC VALUE OF SHARES: DIVIDEND DISCOUNT MODEL IN INDONESIA STOCK EXCHANGE

AbstrakPenilaian saham digunakan untuk membandingkan antara nilai intrinsik dan nilai pasar saham, yang mana akhirnya akan dijadikan sebagai dasar keputusan investasi apakah investor akan menjual atau membeli saham. penelitian ini bertujuan untuk mengetahui dan manganalisa hasil dari perhitungan penilaiain saham menggunakan Dividend Discount Model (DDM) dengan model pertumbuhan konstan. Metode penelitian yang digunakan adalah deskriptif kuantitatif dengan objek penelitian pada perusahaan tekstil dan garmen yang terdaftar di Bursa efek Indonesia tahun 2018. Teknik pengambilan sampel menggunakan puposive sampling dan didapat 5 sampel penelitian. Hasil penelitian ini menunjukkan bahwa dari 5 perusahaan memiliki hasil yang berbeda, dimana saham BELL dan RICY berada dalam kondisi overvalued karena nilai intrinsik lebih rendah dibanding dengan nilai pasar, sedangkan pada saham PBRX, SRIL dan TRIS berada pada posisi undervalued karena nilai intrinsik lebih tinggi dibandingkan dengan nilai pasar.Kata Kunci: Nilai Saham, Dividend Discount Model.AbstractStock valuation uses to compare between intrinsic value and stock market value, which ultimately will be used as a basis for investment decisions whether investors will sell or buy shares. This study aimed to determine and analyze the results of stock valuation calculations using the Dividend Discount Model (DDM) with a constant growth model. The research method used is descriptive quantitative research objects in textile and garment companies listed on the Indonesia Stock Exchange in 2018. The sampling technique uses purposive sampling and obtained five research samples. The results of this study indicate that all of the five companies having different effects. Where BELL and RICY shares were in overvalued conditions because the intrinsic value was lower than the market value, while in PBRX, SRIL and TRIS stocks undervalued because the inherent value is higher than with market value.Keywords: Stock Valuation, Dividend Discount Model.

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ASSESSMENT OF THE MARKET VALUE OF THE COMPANY BY DETERMINING INTRINSIC VALUE BASED ON PJSC MMC NORILSK NICKEL

Russian science: actual researches and developments,Part 1 ◽

10.46554/russian.science-2020.03-1-220/229 ◽

2020 ◽

Author(s):

Valentina Vyacheslavovna Mantulenko ◽

◽

Yulia Borisovna Golub ◽

Keyword(s):

Cash Flow ◽

Stock Exchange ◽

Intrinsic Value ◽

Market Value ◽

Theoretical Concept ◽

Business Value ◽

Current Trends

The authors consider a basic theoretical concept related to process of assessing a business value. The basic coefficients for predicting the company’ activities are analyzed. The calculation of the intrinsic value of the stock was carried out by two methods: by the cash flow discounting method and by comparison with peers. The current trends of the shares value of the considered company on the Moscow stock exchange are analyzed, investment recommendation is given.

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EVALUASI KONDISI SAHAM MELALUI ANALISIS FUNDAMENTAL DENGAN METODE DIVIDEND DISCOUNT MODEL (DDM) TERHADAP KEPUTUSAN INVESTASI PADA PERUSAHAAN SUB SEKTOR PULP AND PAPER YANG TERDAFTAR DI BEI PERIODE 2011-2015

Jurnal Ekonomi STIEP ◽

10.54526/jes.v3i2.2 ◽

2018 ◽

Vol 3 (2) ◽

pp. 1-13

Author(s):

Astria Semaradilla Syari

Keyword(s):

Intrinsic Value ◽

Investment Decisions ◽

Pulp And Paper ◽

Fundamental Analysis ◽

Dividend Discount Model

The purpose of this study was to: (1) determine the condition of stocks through fundamental analysis by the DDM on the company's pulp and paper subsectors period 2011-2015; (2) determine the company's investment decisions pulp and paper subsectors period 2011-2015. The results of this study indicate that (1) the highest intrinsic value is at PT Fajar Surya Wisesa Tbk which is equal to 924.7226 and the lowest intrinsic value is at Paper Factory PT Tjiwi Kimia Tbk, which amounted -1,787,541; (2) The company PT kedawung Setia Industrial Tbk in the period 2011-2015 has a condition undervalued stocks. Meanwhile, other companies namely PT Alkindo Naratama Tbk, PT Fajar Surya Wisesa Tbk, PT Indah Kiat Pulp & Paper Tbk, PT Suparma Tbk, and PT Pabrik Kertas Tjiwi Kimia Tbk experienced overvalued.

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KESEHATAN KEUANGAN DAN VALUASI BJBR MENGGUNAKAN RISK BASED BANK RATING METHOD

Jurnal Pajak dan Keuangan Negara (PKN) ◽

10.31092/jpkn.v3i1.1327 ◽

2021 ◽

Vol 3 (1) ◽

pp. 197-208

Author(s):

Agung Dinarjito ◽

Dinar Arisandy

Keyword(s):

Financial Services ◽

Quantitative Research ◽

Intrinsic Value ◽

Financial Statements ◽

Share Price ◽

Value Analysis ◽

Rating Method ◽

Dividend Discount Model ◽

The Government ◽

The Impact

The COVID-19 pandemic has given an impact on the health of banks in Indonesia, one of which is the West Java and Banten Bank (BJBR). This study aims to assess the health of BJBR before and during the covid-19 pandemic and to find the intrinsic value of BJBR shares that can be used as an evaluation of the company's performance. This research is a descriptive quantitative research. BJBR health analysis was carried out using the Risk Based Rating or RGEC and the intrinsic value analysis was carried out using the Dividend Discount Model (DDM). The authors used data from the 2018-2020 of BJBR financial statements. The results showed that in general, the soundness of BJBR was very healthy and the intrinsic value of BJBR's shares was Rp. 1,659.33 or BJBR's share price is currently sold below its intrinsic value. This research is expected to provide information on the impact of the pandemic on banking, especially BJBR so that the Government and the Financial Services Authority can provide support to banks. In addition, this research can be used as a reference by investors who are interested in BJBR shares. Pandemi covid-19 telah memberikan dampak pada kesehatan perbankan di Indonesia, salah satunya Bank Jawa Barat dan Banten (BJBR). Penelitian ini bertujuan untuk untuk menilai kesehatan BJBR sebelum dan selama pandemi covid-19 serta untuk mencari nilai intrinsik saham BJBR yang dapat digunakan sebagai evaluasi kinerja perusahaan. Penelitian ini merupakan penelitian kuantitatif deskriptif. Analisis kesehatan BJBR dilakukan dengan menggunakan Risk Based Rating atau RGEC dan analisis nilai intrinsik dilakukan dengan Dividend Discount Model (DDM). Penulis menggunakan data laporan keuangan BJBR tahun 2018-2020. Hasil penelitian menunjukkan bahwa secara umum, tingkat kesehatan BJBR adalah sangat sehat dan nilai intrinsik saham BJBR adalah Rp1.659,33 atau harga saham BJBR saat ini dijual di bawah nilai intrinsiknya. Penelitian ini diharapkan dapat memberikan informasi dampak pandemic terhadap perbankan, khususnya BJBR agar Pemerintah dan Ototritas Jasa Keuangan dapat memberikan dukungan kepada bank. Selain itu, penelitian ini dapat digunakan sebagai acuan oleh investor yang tertarik saham BJBR.

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Accuracy of dividend discount model and p/e ratio valuation in Indonesia stock exchange

SSRN Electronic Journal ◽

10.2139/ssrn.3865915 ◽

2021 ◽

Author(s):

Eddy Sutjipto ◽

Wawan Setiawan

Keyword(s):

Stock Exchange ◽

Dividend Discount Model

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Differences In Intrinsic Value With Stock Market Prices Using The Price Earning Ratio (Per) Approach As An Investment Decision Making Indicator (Case Study Of Manufacturing Companies In Indonesia Period 2016 - 2017)

Aptisi Transactions On Technopreneurship (ATT) ◽

10.34306/att.v1i1.61 ◽

2019 ◽

Vol 1 (1) ◽

pp. 82-92

Author(s):

Ardy Indra Lekso Wibowo Putra ◽

Aditya Dwiansyah Putra ◽

Murni Sari Dewi ◽

Denny Oktavina Radianto

Keyword(s):

Decision Making ◽

Stock Market ◽

Stock Price ◽

Stock Exchange ◽

Intrinsic Value ◽

Investment Decision ◽

Manufacturing Companies ◽

Market Prices ◽

Investment Decision Making

An investor must be able to consider all kinds of steps that will be taken or that will be carried out, assessing stocks - shares that will provide optimal benefits in making an investment decision. By analyzing the intrinsic value of the price of a company's stock, investors can assess the fairness of the stock price. The method used to analize intrinsic value is fundamental analysis using the Price Earning Ratio (PER) approach. The samples to be taken in this research are manufacturing companies in Indonesia which are listed on the Indonesia Stock Exchange (IDX) for the period 2016 - 2017 with certain criteria. The results of this research will show that the shares of companies listed are in overvalued, undervalued or correctly valued conditions. So investors can decide to buy, hold or sell their shares.

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