ANALISIS HARGA SAHAM PERDANA PADA PERUSAHAAN MANUFAKTUR YANG TERCATAT DI BURSA EFEK JAKARTA(BEJ) Periode 2003-2006

MAULIDAH, RINA (2007) ANALISIS HARGA SAHAM PERDANA PADA PERUSAHAAN MANUFAKTUR YANG TERCATAT DI BURSA EFEK JAKARTA(BEJ) Periode 2003-2006. Other thesis, University of Muhammadiyah Malang.

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Abstract

This research was comparative study to Capital Market at Indonesia titled “Analysis of First Stock Price at Manufactures Listed in Jakarta Stock Exchange”. This research aimed to find out undervalued or overvalued at Manufactures in 2003-2006 period. In this research, the writer took hypothesis : Undervalued condition first stock (price was determined too low by market) at Manufactures in Jakarta Stock Exchange. Analysis tool used were to find out actual return (Ri), to find out estimated return investment level E(Rm), to find out estimated profit E(Ri), to find out abnormal return (AR) for all stock. They were AR = actual return - estimated return, to find out undervalued or overvalued stock, that wes when stock price > market price, the stock considered to be overvalued. When stock price = market price, the stock considered in equal condition. The equation of estimated return E(Rm) along research period for ARTI was 0.004371692, for AKKU company was 0.003840339, while at MASA was 0.002327157. to find out estimated profit E(Ri) E(Ri) at ARTI company was 0.003007724, and AKKU company was 0.003341095, while at MASA company was 0.000565499 along study period. From Abnormal return equation there could be found that at ARONA BINASEJATI Tbk company and ANEKA KEMASINDO UTAMA Tbk company existed 80% undervalued and 20% overvalued. While at MULTISTRADA ARAH SARANA Tbk, there were 60% undervalued and 40% overvalued. It showed that along study periode, the most of companies were 60% undervalued and 40% overvalued. It showed that along study period, the companies were undervalued. According above conclusion, the writer implied that investors in investing had tofind the real stock price and market price, also find the time to sell the stock and when the stock was bought to get profit.

Item Type: Thesis (Other)
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Economic > Department of Management
Depositing User: Zainul Afandi
Date Deposited: 21 Jun 2012 05:14
Last Modified: 21 Jun 2012 05:14
URI: http://eprints.umm.ac.id/id/eprint/8963

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