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EVA DAN BEBERAPA VARIABEL FUNDAMENTAL PERUSAHAAN TERHADAP HARGA SAHAM Sri Isworo Ediningsih; Nilmawati Nilmawati
Jurnal Keuangan dan Perbankan Vol 14, No 2 (2010): May 2010
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (691.451 KB) | DOI: 10.26905/jkdp.v14i2.972

Abstract

Economic Value Added (EVA) as performance measure had been proven in UnitedStates. In Indonesia, EVA had been used by several companies. However, since 2001 Sawmagazine, Mark Plus Co and Maxi UI consistently made rating on 100 companies with EVA.The purpose of this study was to analyze both simultaneously and partially the influence ofEVA and several fundamental variables (CR, ROI, Size and PER) on stock price. The samplewas taken by using purposive sampling with positive EVA as criteria. There were 88 compa-nies as sample. By using multiple regression, this study found that: 1) simultaneously EVAand several fundamental variables (CR, ROI, Size and PER) significantly influenced stockprice 2) EVA, ROI and PER significantly influenced stock price and 3) CR and size company didnot significant influence stock price
PENDEKATAN MODEL PENILAIAN DALAM PENGAMBILAN KEPUTUSAN INVESTASI SAHAM DI BURSA EFEK INDONESIA Sri Isworo Ediningsih; Aryono Yacobus
Jurnal Keuangan dan Perbankan Vol 16, No 3 (2012): September 2012
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (86.744 KB) | DOI: 10.26905/jkdp.v16i3.1077

Abstract

A valuation model was a mechanism that converted a set of forecast, a series of company and economic variablesinto a forecast of market value for the companys stock. The purpose of this study was to examine relevance amongdividend yield, retained earnings, book value and total debt on stock price: approximation valuation model in theIndonesia Stock Exchange. Samples in this study were manufacture firms listed on the Indonesia Stock Exchangeperiod 20082011 and divided dividend. The results showed that few of samples were undervalue and the otherswere overvalue. It meant valuation model could be applicated in the Indonesian stock exchange. By using multipleregressions, this study found that: valuation model relevans used in investment decission in manufacturefirms in the Indonesia Stock Exchange could prove simultaneously dividend yield, retained earnings, book valueand total debt had significant effect to stock price and partially dividend yield had no significant effect to stockprice and whereas retained earnings, book value and total debt had significant effect in partial to stock price.
UTANG DAN PENGARUHNYA TERHADAP KINERJA PERUSAHAAN Sri Isworo Ediningsih; Nilmawati Nilmawati; Joko Sukendro
Jurnal Keuangan dan Perbankan Vol 18, No 1 (2014): January 2014
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v18i1.772

Abstract

The purpose of this paper was to investigate the influence of debt on profitability of firms listed on Indonesian Stock Exchange. Multiple regression analysis was used in the study in estimating the relationship between debt and firm performance. This study also used three of accounting-based measures and one of market-based measure of financial performance i.e. return on equity (ROE), return on assets (ROA),  gross profit margin (GPM), and Tobin’s Q). Based on a sample of non-financial Indonesian firms listed from 2006 to 2010 the results revealed that debt had a negative impact on firm’s performance. The result showed that industry of Hotel and Travel, and Construction was susceptible to use debt.
Fenomena Underpricing pada Penawaran Umum Perdana di Bursa Efek Jakarta Periode 1998-2005 Sri Isworo Ediningsih; C. Ambar Pujiharjanto
Jurnal Manajemen Maranatha Vol 7 No 1 (2007)
Publisher : Universitas Kristen Maranatha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28932/jmm.v7i1.213

Abstract

It is now widely accepted that initial public offerings (IPOs) of common stocks offer large abnormal return on their first day of trading. As reported in Lougran et.al. (1994), this phenomenon of short-run underpricing has been experienced in every country with a stock market. In this paper, we empirically investigate Indonesian initial public offerings (IPOs) to provide one case of the international evidence on underpricing phenomenon. Using a sample of 84 IPOs listed on Jakarta Stock Exchange during 1998-2005 period and market adjusted return approach, this studies can be proved underpricing at firstly traded in the Stock Exchange. We also find, based on holding period (1 day – 1 month trading) the Jakarta Stock Exchange is not semistrong-form efficiency categorized.