scholarly journals Equity Valuation on Property and Real Estate Listed Companies in 2018: Evidence from Indonesia Stock Exchange

2019 ◽  
Author(s):  
Riko Hendrawan ◽  
Palti M.T. Sitorus ◽  
Ernest L.P. Siagian
Keyword(s):  
Real Estate ◽  
Stock Exchange ◽  
Listed Companies ◽  
Equity Valuation

scholarly journals VALUE RELEVANCE LABA DAN ARUS KAS DENGAN PENDEKATAN PORTFOLIO-RETURN

2006 ◽  
Vol 6 (1) ◽  
pp. 1 ◽  
Author(s):  
Dwi Fitri Puspa
Keyword(s):  
Value Relevance ◽  
Stock Exchange ◽  
Accounting Information ◽  
Listed Companies ◽  
Cash Flows ◽  
Equity Valuation ◽  
Sample Period ◽  
Earnings Information ◽  
Portfolio Return ◽  
Is Value

<p class="Style1"><em>The value relevance literature is related to the usefulness of financial </em><em>statement asan information in equity valuation. This study is conducted </em><em>to measure the value relevance of earnings and cash flows by using the </em><em>portfolio return approach. the study is to examine whether the proportion </em><em>of all information in security returns that are captured by the accounting-</em><em>based measures in earnings information are higher than in cash flows </em><em>information. The sample covers listed companies in Jakarta Stock Exchange in 1991. The number of samples that fulfills the criteria are 79 companies and the sample period was 1996 to 2001. The findings indicate that the value relevance of accounting information in terms of earnings and cash flows is value-relevant. Furthermore the findings show that the value relevance of earnings information is higher than that of cash flows information. The knowledge of the change in earnings (cash flows) earns 45.68% (16.89%) of these returns.</em></p><p class="Style1"><strong><em>Keywords: </em></strong><em>value relevance; portfolio return; earnings; cash flows</em></p>

Why do listed companies delist themselves voluntarily?

2018 ◽  
Vol 23 (2) ◽  
pp. 152-169 ◽  
Author(s):  
Yukiko Konno ◽  
Yuki Itoh
Keyword(s):  
Real Estate ◽  
Stock Exchange ◽  
Listed Companies ◽  
Maintenance Cost ◽  
Content Type ◽  
The Real Estate ◽  
Real Estate Sector ◽  
Negative Effect ◽  
Effect Hypothesis ◽  
Market Capitalisation

Purpose This study aims to analyse, from a corporate finance and governance perspective, the reasons why managers decide to delist their companies from a stock exchange. On the basis of the five hypotheses of voluntary delisting, this study examines why listed companies delist themselves voluntarily in the construction and real estate sectors. Design/methodology/approach By using actual data to examine contractors and real estate companies listed on the Tokyo Stock Exchange between 2004 and 2014, this study analyses whether these companies delist themselves voluntarily. The pooled binary logit model is used as the statistical method. Findings In both the construction and real estate sectors, the concentration of shareholders has a significantly positive effect on voluntary delisting, thus supporting the transfer of wealth effect hypothesis. In construction, market capitalisation has a significantly negative effect on voluntary delisting, thus supporting the maintenance cost reduction hypothesis. In the real estate sector, the ratio of market capitalisation to total assets has a significantly negative effect on voluntary delisting, thus supporting the undervalue elimination hypothesis. Originality/value By comparing the construction and real estate sectors, this study reveals both unique and common reasons for voluntary delisting in each sector. It also offers valuable insights to managers, regulators setting standards in securities markets and investors.

scholarly journals Að þjóna sömu herrum en keppa þó: Sameiginlegt eignarhald á íslenskum hlutabréfamarkaði

2017 ◽  
Vol 13 (1) ◽  
pp. 27
Author(s):  
Ásta Dís Óladóttir ◽  
Friðrik Árni Friðriksson ◽  
Gylfi Magnússon ◽  
Valur Þráinsson
Keyword(s):  
Real Estate ◽  
Stock Market ◽  
Stock Exchange ◽  
Listed Companies ◽  
Pension Funds ◽  
Concentrated Ownership ◽  
Common Ownership ◽  
Almost All ◽  
The U.S

The article analyses common or horizontal ownership of shares on the Icelandic Stock Exchange. We compare this to common ownership of listed shares in the U.S. The situation in Iceland has not been subject to much formal research despite clear signs of concentrated ownership. We look at three Icelandic markets where two or three competing firms all have their shares listed on the stock exchange. The markets are for insurance, telecommunications and real estate. We also look at the holdings of shares by Icelandic pension funds at four points in time, the years 2003, 2007, 2014 and 2016. Although the stock market has changed considerably in many respects within that timeframe, making direct comparison difficult, we conclude that common ownership was far less prevalent before the crash, both among pension funds and all shareholders. At mid-year 2016, the pension funds dominated holdings of shares in most listed companies in Iceland. The largest pension funds each held shares in almost all listed companies. In the three markets that we analyse the pension funds held over 45% of the shares in real estate companies, 35% in insurance and 50% in telecommunications. We do not analyse the consequences of this concentrated and common ownership on competition and prices. That remains a subject for further study. Based on the results from research into the effects of common ownership in the U.S. this development should though clearly be a cause for concern.

scholarly journals Analysis of Tax Amnesty Implementation in the Financial Statements of Publicly Listed Companies in Indonesia

2020 ◽  
Author(s):  
Tika Delima Siahaan ◽  
Dwi Martani
Keyword(s):  
Real Estate ◽  
Construction Industry ◽  
Qualitative Method ◽  
Stock Exchange ◽  
Financial Statements ◽  
Listed Companies ◽  
Building Construction ◽  
Financial Reports ◽  
Tax Amnesty ◽  
Accounting Policy

This study aims to analyze Indonesian companies that present and disclose tax amnesty in their financial statements according to PSAK 70. The analysis is conducted on the characteristics of the companies, the choice of accounting policies for tax amnesty, the presentation of tax amnesty assets and liabilities, the effects of equity from tax amnesty, and the disclosure of the redemption money. This research employs a descriptive qualitative method by analyzing financial reports for the year 2016, which are downloaded from the website of the Indonesia Stock Exchange. In 2016, 194 publicly listed companies participated in tax amnesty. The result shows that the highest participation comes from the property, real estate and building construction industry. The result also shows that 23 companies explicitly state their choice of accounting policies. In addition, 26 companies present tax amnesty assets and liabilities separately from other assets and liabilities, and 83 companies disclose the amount of redemption money. Keywords: tax amnesty, financial statements, PSAK 70, accounting policy, presentation and disclosure

scholarly journals Að þjóna sömu herrum en keppa þó: Sameiginlegt eignarhald á íslenskum hlutabréfamarkaði

2017 ◽  
Vol 13 (1) ◽  
pp. 27
Author(s):  
Ásta Dís Óladóttir ◽  
Friðrik Árni Friðriksson ◽  
Gylfi Magnússon ◽  
Valur Þráinsson
Keyword(s):  
Real Estate ◽  
Stock Market ◽  
Stock Exchange ◽  
Listed Companies ◽  
Pension Funds ◽  
Concentrated Ownership ◽  
Common Ownership ◽  
Almost All ◽  
The U.S

The article analyses common or horizontal ownership of shares on the Icelandic Stock Exchange. We compare this to common ownership of listed shares in the U.S. The situation in Iceland has not been subject to much formal research despite clear signs of concentrated ownership. We look at three Icelandic markets where two or three competing firms all have their shares listed on the stock exchange. The markets are for insurance, telecommunications and real estate. We also look at the holdings of shares by Icelandic pension funds at four points in time, the years 2003, 2007, 2014 and 2016. Although the stock market has changed considerably in many respects within that timeframe, making direct comparison difficult, we conclude that common ownership was far less prevalent before the crash, both among pension funds and all shareholders. At mid-year 2016, the pension funds dominated holdings of shares in most listed companies in Iceland. The largest pension funds each held shares in almost all listed companies. In the three markets that we analyse the pension funds held over 45% of the shares in real estate companies, 35% in insurance and 50% in telecommunications. We do not analyse the consequences of this concentrated and common ownership on competition and prices. That remains a subject for further study. Based on the results from research into the effects of common ownership in the U.S. this development should though clearly be a cause for concern.

Audit Committee Effectiveness Among Malaysian Listed Companies

2020 ◽  
Author(s):  
Shamsul Nahar Abdullah ◽  
Ku Nor Izah Ku Ismail
Keyword(s):  
Corporate Governance ◽  
Audit Committee ◽  
Stock Exchange ◽  
Listed Companies ◽  
The Other ◽  
Interactive Effects ◽  
Committee Chairman ◽  
Kuala Lumpur ◽  
Political Costs ◽  
Leadership Structure

This study investigates further the previous paper by Shamsul Nahar and Al-Murisi (1997) by examining the interactive effects of the variables in that paper and introducing other variables associated with corporate governance and political costs. The present study postulated that percentage of external directors on audit committee interacted with the presence of an accountant on audit committee and with the number of years an audit committee in existence, respectively, to influence audit committee effectiveness. The study also posited that the interaction of the presence of an accountant on audit committee and the number of years an audit committee in existence positively and significantly influenced audit committee effectiveness. Addition. ally, the roles of leadership structure, audit committee chairman, and a firm's size on audit committee effectiveness were also investigated. Using a multiple regression from a sample consisting the Kuala Lumpur Stock Exchange listed companies, results showed that only a firm's size significantly influenced audit committee effectiveness in the predicted direction. Other variables, on the other hand, did not show any significant influence on audit committee effectiveness.  

PENGARUH FREKUENSI PERDAGANGAN PADA SEKTOR PROPERTY DAN REAL ESTATE TERHADAP HARGA SAHAM

2019 ◽  
Vol 7 (02) ◽  
pp. 51
Author(s):  
Adri Wihananto
Keyword(s):  
Real Estate ◽  
Stock Price ◽  
Stock Exchange ◽  
Stock Trading ◽  
Trading Frequency ◽  
Important Thing ◽  
Know How ◽  
Stock Value ◽  
Measuring Frequency ◽  
Case Based

Trading frequency can be said as the implementation from trader of commerce. This case based on positive or negative trader reaction given by trader information.  Stock trading in BEI always fluctuate with price of volume value and frequency particularly. Frequency itself shows the company  involved or not. In trading frequency, if the indicator frequency it self shown the higher point, it means better. In spite of the most important thing is how the fluctuation or value conversion itself. On the frequencies we also could see which stocks is interested by the investor. When trading frequency high, it  may be create sense of interest from investors.The aim of this research, in order to know how far the effect of trading frequency (X) with stock value (Y) using cover stock value. The information used is begin 2008 with sample from twelve property and real estate companies. According to the research can be conclude from twelve companies in Indonesia Stock Exchange in 2008, 75 % of trading frequency samples doesn’t have signification degree between trading frequency and stock value. This case can be explained count on smaller than t tableEvaluation of this research is the trading measuring frequency at property sector and real estate not influence to stock priceKeywords : Trading Frequency, Stock Price 

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