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All Journal Jurnal Riset Ekonomi dan Bisnis DIGIBE: Digital Business and Entrepreneurship Journal Masyarakat: Jurnal Pengabdian INDONESIAN JOURNAL OF BUSINESS AND ECONOMICS
Hadi Satria Ganefi
Universitas Kuningan
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences Other

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Penilaian saham secara fundamental menggunakan metode dividend discount model dan price earning ratio untuk keputusan investasi Hadi Satria Ganefi; Agus Prasetyono; Mei Rani Amalia
Jurnal Riset Ekonomi dan Bisnis Vol 16, No 1 (2023): APRIL
Publisher : Universitas Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26623/jreb.v16i1.6367

Abstract

Penilaian saham merupakan suatu hal penting yang perlu dilakukan bagi investor dalam melakukan kegiatan investasinya. Hal ini dilakukan dengan tujuan untuk meminimalisir risiko dan memaksimalkan keuntungan yang merupakan syarat dan karakteristik saham hight risk – hight return. Investor dapat melakukan penilaian saham secara fundamental yaitu dengan memperhatikan kondisi kinerja keuangan sebagai dasar untuk pengambilan keputusan. Penelitian ini dilakukan untuk mengetahui harga wajar suatu saham pada perusahaan subsektor perbankan pada periode 2021. Penilaian saham dilakukan berdasarkan dua pendekatan yaitu Dividen Discount Model dan Price Earning Ratio, dari 47 perusahaan subsekektor yang terdaftar sebanyak 12 perusahaan memenuhi kriteria dan dipilih sebagai sampel. Hasil penelitian menunjukkan bahwa dari 12 perusahaan terpilih, terdapat 10 perusahaan yang berada dalam kondisi undervalued dan 2 perusahaan yang berada dalam kondisi overvalued. Dalam kondis undervalued invetor dapat mengambil keputusan dengan membeli saham tersebut, sedangkan pada perusahaan yang berada pada overvalued invetor dapat menjual saham.Stock valuation is an important thing that needs to be done for investors in carrying out their investment activities.  This is with the aim of minimizing risk and maximizing profits which are the terms and characteristics of hight risk – hight return.  Investors can make stock valuation fundamentally by taking into account the condition of financial performance as a basis for decision making. This research was conducted to determine the fair price of shares in banking sub-sector companies in the 2021 period. Stock valuation was carried out based on two approaches, namely the dividend discounted model and the price earning ratio, of the 47 registered sub-sector companies, 12 companies met the criteria and were selected as samples. The results showed that of the 12 companies selected, there were 10 companies that were undervalued and 2 companies that were overvalued. In undervalued conditions, investors can make decisions by buying these shares, whereas in overvalued companies, investors can sell their shares.
FAIR PRICE OF STOCK USING PRICE EARNING RATIO AND PRICE TO BOOK VALUE IN INVESMENT SERVICE COMPANIES Hadi Satria Ganefi; Yasir Maulana; Wachjuni Wachjuni
INDONESIAN JOURNAL OF BUSINESS AND ECONOMICS Vol. 9 No. 1 (2026): Indonesian Journal Of Business And Economics
Publisher : Universitas Kuningan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25134/0xqa0s93

Abstract

Investment is a current sacrifice made by investors with the aim of achieving future profits. One instrument investors utilize in investing is stocks, which offer high returns accompanied by high risks. Therefore, to minimize risk and maximize returns, investors require adequate information and accurate analysis of the stocks they choose. This study aims to analyze the fairness of stock prices of Investment Services sub-sector companies listed on the Indonesia Stock Exchange during the 2024 period using fundamental analysis with the Price Earnings Ratio (PER) and Price to Book Value (PBV) methods. Purposive sampling was used as a sampling technique, and four companies were selected. The results showed that, based on fundamental analysis using the PER and PBV methods, two companies were overvalued and one company was undervalued. However, inconsistent results were found within one company. This study provides information that can be used as a basis for consideration by investors in making investment decisions, both to buy and sell shares, especially in the investment services sector.
PENDAMPINGAN KEWIRAUSAHAAN: MENGEMBANGKAN JIWA TECHNOPRENEURSHIP BAGI PELAJAR Hadi Satria Ganefi; Arief Surya Lesmana; Faishal Rahimi
Masyarakat: Jurnal Pengabdian Vol. 2 No. 4 (2026)
Publisher : Yayasan Pendidikan Dan Pengembangan Harapan Ananda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58740/m-jp.v2i4.549

Abstract

Kesempatan pekerjaan yang semakin terbatas serta lulusan pendidikan formal yang semakin meningkat menimbulkan gap demand-supply di pasar tenaga kerja. Kewirausahaan dapat dikatakan sebagai langkah strategis untuk mengurangi pengangguran dan menciptakan kemandirian ekonomi. Sebagai bentuk kepedulian lingkungan dan sosial Universitas Kuningan melalui program Pengabdian Kepada Masyarakat memberikan edukasi mengenai pentingnya membangun semangat kewirausahaan. Tujuan utama PKM ini adalah memberikan edukasi dan menggalakan pendidikan kewirausahaan berbasis teknologi digital dan terciptanya technopreneur baru. Kegiatan ini dilakukan di Pondok Pesantren Tarbiyatul Banin, Kelurahan Dukupuntang, Kabupaten Cirebon. Pelaksanaan terbagi kedalam tiga tahap mulai dari persiapan program, pelaksanaan dan evaluasi program. Pelaksanaan dilakukan dengan penyampaian materi yang disusun berdasarkan analisis kebutuhan dilanjutkan dengan sesi diskusi dan tanya jawab. Kegiatan PKM berjalan dengan baik dan menunjukkan hasil yang positif bagi peserta didik yaitu meningkatnya pengetahuan dan minat sebagai technopreneur. Manfaat lain bagi mitra adalah terciptanya program pengembangan kewirausahaan digital melalui kegiatan ekstrakulikuler secara berkelanjutan dan program inkubator bisnis.
MEAN-VARIANCE PORTFOLIO OPTIMIZATION FOR EMDE AND MTDL STOCKS: A MARKOWITZ APPROACH Zahra Rohadatul Aisylah; Ferdiansyah Saputra; Arief Surya Lesmana; Hadi Satria Ganefi
Digital Business and Entrepreneurship Journal Vol. 4 No. 2 (2026): Digital Business and Entrepreneurship Journal
Publisher : PRODI BISNIS DIGITAL FAKULTAS EKONOMI DAN BISNIS UNIVERSITAS KUNINGAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25134/digibe.v4i2.609

Abstract

Constructing an optimal portfolio is a crucial step for investors in balancing the trade-off between expected return and investment risk. This study aims to construct an optimal portfolio comprising two stocks, EMDE and MTDL, by applying the Markowitz mean-variance model to minimize return variance at a specific return level. The methodology employs mean-variance optimization, estimating expected return, variance, and covariance based on historical return data for both stocks to determine efficient portfolio weights. The analysis reveals that the optimal portfolio consists of 19.27% EMDE stock and 80.73% MTDL stock. This combination yields an expected portfolio return of 1.33% with a return standard deviation of 8.43%, reflecting a more efficient risk-return profile compared to an allocation in a single stock. These findings indicate that diversification between EMDE and MTDL can improve portfolio risk characteristics without significantly sacrificing returns. Consequently, investors are advised to consider this combination as part of their asset allocation strategy, particularly those with moderate risk preferences who prioritize mean-variance efficiency. This study provides empirical evidence regarding the application of the Markowitz model in the Indonesian stock market and serves as a reference for future research involving a broader range of assets and data periods.
Co-Authors Agus Prasetyono Arief Surya Lesmana Faishal Rahimi Ferdiansyah Saputra Mei Rani Amalia Wachjuni Yasir Maulana Zahra Rohadatul Aisylah