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All Journal Jurnal Siasat Bisnis Jurnal Manajemen Teknologi Business and Management Review Jurnal Keuangan dan Perbankan Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Jurnal Bisnis dan Manajemen Jurnal Manajemen Indonesia JAF- Journal of Accounting and Finance Devotion: Journal of Research and Community Service International Journal of Multidisciplinary: Applied Business and Education Research Action Research Literate (ARL) Indonesian Journal of Multidisciplinary Science Journal of Social Research Research of Accounting and Governance Research of Economics and Business Research of Finance and Banking
Riko Hendrawan
Telkom University
Religion Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Medicine & Pharmacology Public Health Social Sciences

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Journal : Indonesian Journal of Multidisciplinary Science

 1 
Analyzing Indonesian Cement Companies’ Efficiency Using the Stochastic Frontier Analysis Method Period 2014-2018 Afina, Syadza; Hendrawan, Riko
Indonesian Journal of Multidisciplinary Science Vol. 2 No. 10 (2023): Indonesian Journal of Multidisciplinary Science
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/ijoms.v2i10.589

Abstract

Cement industry is one of the important industries in supporting the country’s development. However, the level of cement utilization in Indonesia in 2014–2018 experienced a fluctuating growth. In 2014–2016, the decreased revenue growth had been followed by the decreased growth in net profit margin and return on assets, while the increased revenue growth in 2016–2018 was not followed by the increased growth in net profit margin and return on assets. Therefore, it is necessary to analyze the company’s efficiency to maintain its performance. The results of this study indicate that the variable of raw materials cost had a significant negative effect on efficiency, variable of labor cost, total assets, revenue, and interest rates had significant positive effects on efficiency, while return on equity and return on assets had no significant effect on efficiency. The most efficient cement company was Semen Indonesia, Ltd with a value of 0.93609 and the least efficiency one was Semen Baturaja, Ltd with a value of 0.09772.
Tire Company’s Valuation in Using Free Cash Flow to Firm and Relative Valuation Method Adrianov, Bobby; Hendrawan, Riko
Indonesian Journal of Multidisciplinary Science Vol. 2 No. 11 (2023): Indonesian Journal of Multidisciplinary Science
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/ijoms.v2i11.624

Abstract

Tire company shares are considered to be the most prospective in 2018. This is related to the increasing level of tire exports, especially to Europe. Goodyear Indonesia (GDYR), Gajah Tunggal (GJTL), and Multistrada Arah Sarana (MASA) are three listed companies listed on the Indonesia Stock Exchange in 2014-2018. This thesis analyzes the intrinsic price of shares in the Tire Sub-Sector using the Discounted Cash Flow - Free Cash Flow to Firm (FCFF) Method and the Relative Valuation (RV) approach, so that interested parties or investors can assess how the third issuer's position shares. The basis of the estimation is an analysis of the financial statements of the three companies in the period 2014 to 2018, to conduct a fair valuation of shares in 2018 and an extension of the estimated share price in 2019. With the DCF-FCFF approach, the results show that GDYR shares are overvalued in all scenarios. GJTL's share price is also overvalued in the Optimistic and Moderate scenarios, but the Pessimistic scenario is overvalued. Meanwhile, MASA's share price is overvalued in all scenarios. With the PER approach, the results show that GDYR & MASA's shares are in an overvalued position in all scenarios. However, GJTL shares are in an overvalued position in all scenarios. With the PBV approach, the results show that the share price of GDYR & MASA are in an overvalued position in all scenarios. However, GJTL's share price is overvalued in all scenarios.
Co-Authors Adrianov, Bobby Afina, Syadza Akbar, Lily M Al-Farisi, Ade Salman Alimuddin, Almand Fuad Amin, Kokoh Kabul Anggadi Sasmito Ariful Ulya Dwipanca Adi Nugraha Enggar Pratiwi Farida Titik Kristanti Fitriyani, Maya Gayuh T Permana Gede Teguh Laksana Hadiana, Riza Harjono, Sucipto Kristian WA Nugroho Muhammad Bayu Aji Sumantri Muhammad Chalil Gilbran Nurul Rachma Fadhyla Pebri Yanida Putra, Fikri Dzuraeka Rifqi Dzakiri Safar, Abdul Salehudin Eka Saputra Alrasidi Setiawan, Rian Soelistyo, Alex Teika Trikartika Gustyana Tendi Haruman Tendi Haruman Wibowo, Teguh Arie Wiwin Aminah