<![CDATA[ABSTRAKPenelitian ini menelaah pengaruh gerakan boikot terhadap nilai fundamental dan nilai wajar beberapa perusahaan makanan dan minuman yang tercatat di Bursa Efek Indonesia. Pendekatan yang digunakan bersifat kuantitatif, dengan penerapan analisis rasio keuangan dan valuasi intrinsik untuk mengevaluasi kinerja perusahaan. Data yang digunakan dalam penelitian ini berupa laporan keuangan serta harga penutupan saham dari empat perusahaan—FAST, PZZA, UNVR, MAPB—. Kinerja fundamental dievaluasi melalui indikator profitabilitas, likuiditas, utang, efisiensi operasional, kinerja pasar, dan kondisi kesulitan keuangan, sedangkan uji Friedman digunakan untuk menganalisis perbedaan nilai intrinsik (nilai wajar) pada periode sebelum, selama, dan sesudah aksi boikot. Hasil penelitian memperlihatkan bahwa aksi boikot memberikan dampak negatif terhadap nilai fundamental perusahaan, yang tercermin dari penurunan rasio keuangan dan nilai intrinsik, namun tidak berpengaruh signifikan pada nilai wajar saham. Temuan ini mengindikasikan bahwa meskipun terdapat tekanan pada kinerja keuangan, persepsi pasar terhadap harga saham tetap relatif stabil.Kata Kunci: Aksi boikot, Analisis Fundamental, Nilai Wajar, Teori Stakeholder, Margin of Safety, Nilai IntrinsikABSTRACTThis study investigates the effect of the boycott movement on both the fundamental and fair values of several food and beverage companies listed on the Indonesia Stock Exchange. It uses a quantitative approach, analyzing company performance through financial ratios and intrinsic valuation. The research is based on secondary data from the financial statements and stock closing prices of four companies—FAST, PZZA, UNVR, and MAPB—. Fundamental performance is evaluated through profitability, liquidity, leverage, operational efficiency, market performance, and financial distress indicators, while the Friedman test is applied to analyze differences in intrinsic (fair) values across the periods before, during, and after the boycott. The findings show that the boycott had negative impact on the companies’ fundamental values, as reflected in declining financial ratios and intrinsic values, but had no significant impact on fair share values. These results imply that despite public pressure and weakened financial performance, investors’ perceptions of share fairness remained relatively stable.Keywords: Boycott Action, Fundamental Analysis, Fair Value, Stakeholder Theory, Margin of safety, Intrinsic Value]]>
Copyrights © 2025
