ESTIMASI NILAI PASAR WAJAR SAHAM PT BANK PEMBANGUNAN DAERAH JABAR BANTEN TBK.
This research aims to estimate the fair market value of PT. Bank Pembangunan Daerah Jabar Banten Tbk. by using Discounted Cash Flow through the free cash flow to equity model and the relative valuation . The fair market value of PT. Bank Pembangunan Daerah Jabar Banten Tbk. can be used by firm as a...
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| Format: | Thesis |
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[Yogyakarta] : Universitas Gadjah Mada
2012
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| _version_ | 1826045213177544704 |
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| author | , Novian Fatckur Rochman , Prof. Dr. Eduardus Tandelilin, M.B.A., |
| author_facet | , Novian Fatckur Rochman , Prof. Dr. Eduardus Tandelilin, M.B.A., |
| author_sort | , Novian Fatckur Rochman |
| collection | UGM |
| description | This research aims to estimate the fair market value of PT. Bank
Pembangunan Daerah Jabar Banten Tbk. by using Discounted Cash Flow through
the free cash flow to equity model and the relative valuation . The fair market
value of PT. Bank Pembangunan Daerah Jabar Banten Tbk. can be used by firm
as a reference in determining the share price that will be offered to the public. It
also can be used by investor in evaluating whether the pricing of PT. Bank
Pembangunan Daerah Jabar Banten Tbk. is overvalued or undervalued.
The data analysed are financial statements of PT. Bank Pembangunan
Daerah Jabar Banten Tbk. for period 2006 to 2010, financial statements of
comparable companies for 2010, PT. Bank Pembangunan Daerah Jabar Banten
Tbk. stock price, comparable companies' stock price and Jakarta composite
index(IHSG). Analysis using the free cash flow to equity model conducted an
analysis stages revenue projections, projections of financial statements, the
projected free cash flow (free cash flow), the determination of the discount rate,
the determination of terminal value, and the estimated value. Analysis using the
free cash flow to equity model conducted an analysis stages choice of comparable
firms, calculates value of PER and PBV multiple, estimates value of company
stock using PER and PBV multiple from the comparable firm.
Result of research using the free cash flow to equity model shows that the
estimated fair market value of PT. Bank Pembangunan Daerah Jabar Banten Tbk.
as per 31st Desember 2011 is Rp1.066,09 while using relative valuation of PER
multiples is Rp1.003,70 and relative valuation of PBV is Rp852,99. Thus, the
reconciliation value is estimated at Rp1.011,00. The fair market value for the
selling price ranges from Rp1.086,82 for the upper limit and Rp935,17 on the
lower limit. |
| first_indexed | 2024-03-13T22:33:39Z |
| format | Thesis |
| id | oai:generic.eprints.org:97703 |
| institution | Universiti Gadjah Mada |
| last_indexed | 2024-03-13T22:33:39Z |
| publishDate | 2012 |
| publisher | [Yogyakarta] : Universitas Gadjah Mada |
| record_format | dspace |
| spelling | oai:generic.eprints.org:977032016-03-04T08:48:05Z https://repository.ugm.ac.id/97703/ ESTIMASI NILAI PASAR WAJAR SAHAM PT BANK PEMBANGUNAN DAERAH JABAR BANTEN TBK. , Novian Fatckur Rochman , Prof. Dr. Eduardus Tandelilin, M.B.A., ETD This research aims to estimate the fair market value of PT. Bank Pembangunan Daerah Jabar Banten Tbk. by using Discounted Cash Flow through the free cash flow to equity model and the relative valuation . The fair market value of PT. Bank Pembangunan Daerah Jabar Banten Tbk. can be used by firm as a reference in determining the share price that will be offered to the public. It also can be used by investor in evaluating whether the pricing of PT. Bank Pembangunan Daerah Jabar Banten Tbk. is overvalued or undervalued. The data analysed are financial statements of PT. Bank Pembangunan Daerah Jabar Banten Tbk. for period 2006 to 2010, financial statements of comparable companies for 2010, PT. Bank Pembangunan Daerah Jabar Banten Tbk. stock price, comparable companies' stock price and Jakarta composite index(IHSG). Analysis using the free cash flow to equity model conducted an analysis stages revenue projections, projections of financial statements, the projected free cash flow (free cash flow), the determination of the discount rate, the determination of terminal value, and the estimated value. Analysis using the free cash flow to equity model conducted an analysis stages choice of comparable firms, calculates value of PER and PBV multiple, estimates value of company stock using PER and PBV multiple from the comparable firm. Result of research using the free cash flow to equity model shows that the estimated fair market value of PT. Bank Pembangunan Daerah Jabar Banten Tbk. as per 31st Desember 2011 is Rp1.066,09 while using relative valuation of PER multiples is Rp1.003,70 and relative valuation of PBV is Rp852,99. Thus, the reconciliation value is estimated at Rp1.011,00. The fair market value for the selling price ranges from Rp1.086,82 for the upper limit and Rp935,17 on the lower limit. [Yogyakarta] : Universitas Gadjah Mada 2012 Thesis NonPeerReviewed , Novian Fatckur Rochman and , Prof. Dr. Eduardus Tandelilin, M.B.A., (2012) ESTIMASI NILAI PASAR WAJAR SAHAM PT BANK PEMBANGUNAN DAERAH JABAR BANTEN TBK. UNSPECIFIED thesis, UNSPECIFIED. http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=53953 |
| spellingShingle | ETD , Novian Fatckur Rochman , Prof. Dr. Eduardus Tandelilin, M.B.A., ESTIMASI NILAI PASAR WAJAR SAHAM PT BANK PEMBANGUNAN DAERAH JABAR BANTEN TBK. |
| title | ESTIMASI NILAI PASAR WAJAR SAHAM
PT BANK PEMBANGUNAN DAERAH JABAR BANTEN TBK. |
| title_full | ESTIMASI NILAI PASAR WAJAR SAHAM
PT BANK PEMBANGUNAN DAERAH JABAR BANTEN TBK. |
| title_fullStr | ESTIMASI NILAI PASAR WAJAR SAHAM
PT BANK PEMBANGUNAN DAERAH JABAR BANTEN TBK. |
| title_full_unstemmed | ESTIMASI NILAI PASAR WAJAR SAHAM
PT BANK PEMBANGUNAN DAERAH JABAR BANTEN TBK. |
| title_short | ESTIMASI NILAI PASAR WAJAR SAHAM
PT BANK PEMBANGUNAN DAERAH JABAR BANTEN TBK. |
| title_sort | estimasi nilai pasar wajar saham pt bank pembangunan daerah jabar banten tbk |
| topic | ETD |
| work_keys_str_mv | AT novianfatckurrochman estimasinilaipasarwajarsahamptbankpembangunandaerahjabarbantentbk AT profdreduardustandelilinmba estimasinilaipasarwajarsahamptbankpembangunandaerahjabarbantentbk |