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All Journal Jurnal Administrasi Bisnis Journal of Development Research JANITA International Journal of Industrial Engineering, Technology & Operations Management Business, Entrepreneurship, and Management Journal
RANI RACHMAWATI
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Chemical Engineering, Chemistry & Bioengineering Civil Engineering, Building, Construction & Architecture Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Industrial & Manufacturing Engineering Social Sciences Other

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STOCK VALUATION USING FREE CASH FLOW TO EQUITY (FCFE) AND PRICE EARNING RATIO (PER) (Study at Companies Listed on LQ-45 Index in Indonesia Stock Exchange Period August 2017 - January 2018) Rani Rachmawati; Nila Firdausi Nuzula
Jurnal Administrasi Bisnis Vol 57, No 2 (2018): APRIL
Publisher : Fakultas Ilmu Administrasi Universitas Brawijaya

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Abstract

Valuasi saham adalah salah satu hal penting dalam berinvestasi. Tujuan dari valuasi saham adalah untuk membantu investor meminimalkan risiko investasi melalui nilai intrinsik dalam membuat keputusan investasi. Model evaluasi untuk menghitung nilai intrinsik dalam penelitian ini adalah analisis fundamental dengan Free Cash Flow to Equity (FCFE) dan Price Earning Ratio (PER). Penelitian ini menggunakan penelitian deskriptif dengan menggunakan populasi penelitian pada perusahaan yang terdaftar pada Indeks LQ-45 di Bursa Efek Indonesia periode Agustus 2017 - Januari 2018, yang terdiri dari 45 perusahaan. Peneliti menggunakan teknik purposive samplingdan menghasilkan 18 perusahaan sebagai sample. Hasil menggunakan pendekatan Free Cash Flow to Equity (FCFE) menunjukkan bahwa 9 perusahaan dalam kondisi undervalued dan 9 perusahaan dalam kondisi overvalued. Sementara, hasil menggunakan pendekatan Price Earning Ratio (PER) menunjukkan bahwa hanya 4 perusahaan dalam kondisi undervalued dan 14 perusahaan dalam kondisi overvalued. Rekomendasi keputusan investasi dapat diambil untuk perusahaan dalam kondisi undervalued adalah membeli atau menyimpan saham dan rekomendasi keputusan investasi untuk perusahaan dalam kondisi overvalued adalah menjual saham. Ada beberapa perusahaan yang memiliki rekomendasi serupa untuk keputusan investasi dari kedua pendekatan tersebut, yaitu AKRA, BBCA, BBRI, BMRI, KLBF, PTBA, UNTR, dan UNVR. Kata Kunci :Valuasi Saham, FCFE, PER. ABSTRACT Stock Valuation is one important thing in investing. The aim is to help investors to minimize the risk of investment through intrinsic value in making investment decisions. The evaluation model for calculate the intrinsic value is fundamental analysis with Free Cash Flow to Equity (FCFE) and Price Earning Ratio (PER). This research uses descriptive study using research population on companies which listed on the LQ-45 Index in Indonesia Stock Exchange period August 2017 – January 2018, it consist of 45 companies. Researcher using purposive sampling technique that was selected 18 companies. The results using Free Cash Flow to Equity (FCFE) approach indicates that 9 companies in undervalued condition and 9 companies in overvalued condition. While, the results using Price Earning Ratio (PER) approach shows that only 4 companies in undervalued condition and 14 companies in overvalued condition. The recommendation of investment decision can be taken for companies in undervalued condition is to buy or keep the stock and the recommendation of investment decision for companies in overvalued condition is sell the stock. There are several companies that have similar recommendation of investment decision between both approach, those are AKRA, BBCA, BBRI, BMRI, KLBF, PTBA,UNTR, and UNVR. Keywords : Stock Valuation, FCFE, PER.
Pengetahuan dan Implementasi Pelaksanaan Pansel Sekda di Kabupaten Tulungagung Tahun 2023 Sri Sutrismi; Rani Rachmawati
JANITA : JURNAL PENGABDIAN KEPADA MASYARAKAT Vol. 4 No. 1 (2024)
Publisher : Lembaga Penelitian dan Pengabdian Masyarakat Universitas Tulungagung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36563/pengabdian.v4i1.1027

Abstract

Penelitian ini bertujuan untuk menggambarkan pelaksanaan seleksi terbuka (SELTER) Jabatan Pimpinan Tertinggi (JPT) Pratama Sekretaris Daerah Kabupaten Tulungagung Peneliti terlibat langsung sebagai panitia seleksi (Pansel) dari wakil akademisi. Pelaksanaan Selter dimulai 22Nopember sampai dengan21 Desember 2023, Selter dilaksanakan secara akuntabel yang dapat dipertanggung jawabkan pelaksanaannya serta transparan yang merupakan bentuk keterbukaan dengan memberikan informasi kepada pihak yang membutuhkan yakni calon peserta dan pihak lain. jumlah kompetitor 8 orang. Pengumpulan data dilakukan melalui observasi, wawancara, dan data sekunder. Pengambilan data dilakukan dengan observasi langsung, tanya jawab kepada penyelenggara. Hasil penelitian Selter dilakukan dengan transparan, dan akuntabel dari penilaian seleksi administrasi, rekam jejak jabatan, kompetensi manajerial dan penilaian kompetensi bidang. Selanjutnya hasil penilaian selter, pansel merekomendasikan ada 3 (tiga) kandidat terbaik yang dilaporkan panitia kepada Pejabat Pembina Kepegawaian (PPK) dalam hal ini Bupati untuk bisa memilih. Pansel juga menyampaikan laporan hasil seleksi berupa berita acara, Keputusan pansel, nilai pada setiap tahap dan hasil assessmen kepada KASN perlu terus melakukan evaluasi dalam pelaksanaan Selter untuk menjaga akuntabilitas dan transparansi, dan menghindari intervensi.
Corporate Governance and Internet Financial Reporting: Evidence from Public Companies in Indonesia Tumewu, James; Ardini, Lilis; Rachmawati, Rani
International Journal of Industrial Engineering, Technology & Operations Management Vol. 2 No. 1 (2024): June 2024
Publisher : Indonesia Academia Research Society

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62157/ijietom.v2i1.55

Abstract

Internet financial reporting provides the fastest information about company conditions, including financial and business data. This study examines the impact of corporate governance mechanisms on Internet Financial Reporting. Purposive sampling was used to select the sample, which included 105 companies in 2022. Linear regression analysis was employed to analyze the data. The study findings indicate that the audit committee and audit firm influence Internet Financial Reporting. At the same time, the educational background of the board of directors, board of commissioners, and ownership concentration have no significant effect. The increasing adoption of technology in financial reporting has led to internet-based financial reporting, enabling companies to present their financial statements on time and facilitate the dissemination necessary information regarding investment potential and opportunities before the data becomes obsolete. This study investigates the role of corporate governance mechanisms in influencing the timeliness of Internet Financial Reporting. The timely dissemination of financial information through internet-based reporting is crucial for investors to make informed decisions, allowing them to access relevant data before it becomes outdated. This study provides insights into the specific corporate governance factors that can impact the timeliness of this reporting, which is an important consideration for companies seeking to improve their transparency and disclosure practices.
ANALISIS PROFITABILITAS DENGAN OPTIMALISASI MODAL KERJA DI PT BANK NEGARA INDONESIA (PERSERO) TBK Sri Sutrismi; Rani Rachmawati; Meylia Lailatul Aini
BEMJ : Business, Entrepreneurship, and Management Journal Vol. 1 No. 2 (2022)
Publisher : Universitas Tulungagung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36563/bemj.v1i2.611

Abstract

Kinerja perolehan profit sangat terkait dengan pengelolaan modal kerja yang optimal, seperti halnya yang terjadi di Bank BNI 46, tujuan penelitian adalah pengelolaan Modal Kerja yang diukur tingkat perputaran modal kerja, tingkat perputaran kas, tingkat perputaran piutang, dan tingkat perputaran persediaan untuk menilai Return On Investment (ROI) pada PT Bank Negara Indonesia (Persero) Tbk Periode 2017-2021. Laporan keuangan periode 2017-2021 Neraca dan laporan Laba Rugi sebagai obyek penelitian dengan teknik dokumentasi dari anual report perusahaan yang terpublikasikan. Metode analisis data adalah analisis rasio keuangan. Hasilnya, perputaran kas secara keseluruhan dapat dikatakan kurang baik, karena dibawah rata-rata industri 10 kali yaitu berturut turut lima tahun 3,37 kali; 2,75 kali ; 2,45 kali dan 1,83 kali ; 2 ,79 kali (2) Perputaran modal kerja kurang baik karena dibawah 6 kali yaitu lima tahun berturut turut :sebesar 0,47 kali ; 0,35 kalii , 0,34 kali, dan 0,38 kali,0,31 kali (3) perputaran piutang kurang baik karena dibawah standar rata-rata industri yaitu dibawah 7,2 kali.berturut turut lima tahun 0,21 kali ; 0,20 kali ; 0,20 kali ; 0,19kali, 0,20 kali Kinerja ROI perusahaan kurang baik karena berada di bawah standar rata-rata industri yaitu 5,08 kali.
How Digital Banking Mediates the Impact of Financial Decisions on ASEAN-5 Bank Performance Rachmawati, Rani
Journal of Development Research Vol. 10 No. 1 (2026): Volume 10, Number 1, May 2026
Publisher : Lembaga Penelitian dan Pengabdian Masyarakat Universitas Nahdlatul Ulama Blitar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28926/jdr.v10i1.508

Abstract

This study investigates the mediating role of digital banking services in the relationship between traditional financial decisions and bank financial performance. Using an unbalanced panel dataset of 152 commercial banks across ASEAN-5 countries (Indonesia, Malaysia, Thailand, Singapore, and the Philippines) from 2013 to 2023, yielding 1,567 bank-year observations, we employ a robust mediation analysis framework grounded in Financial Intermediation Theory, the Resource-Based View, and Dynamic Capabilities. The empirical strategy combines fixed effects panel regression to control for unobserved heterogeneity with a bootstrapping procedure (5,000 resamples) to test the significance of indirect effects. Results confirm that digital banking penetration partially and significantly mediates the impact of funding decisions (retail deposit ratio) and investment decisions (IT expenditure intensity) on Return on Assets (ROA), as well as the impact of the cost of funds on ROA. The mediation effect is context-dependent, being substantially stronger for larger banks and for banks operating in countries with more advanced digital infrastructure. These findings bridge a critical gap in the literature by modelling digital services not as a parallel performance driver, but as a fundamental transmission channel that reconfigures traditional value-creation pathways in banking. The study provides actionable insights for bank managers to integrate digital and financial strategies, for regulators to view digital infrastructure as a component of financial stability, and for investors to adopt integrated valuation models.
Co-Authors Lilis Ardini Made Ria Defiani Meylia Lailatul Aini Ni Luh Suriani Nila Firdausi Nuzula Sri Sutrismi Tumewu, James