analisis Penilaian Harga Saham pada Penawaran Saham Umum Kedua (Studi Kasus pada PT. Bank Negara indonesia Persero Tbk)
This research aim to estimate an intrinsic value of BNI share when doing secondary public offering by using constant growth models and relative valuation. This research also used data of BNI financial statement�s during the last five year from 2002 until 2006. Method analysis of discounted cash fl...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Theses and Dissertations NonPeerReviewed |
| Published: |
[Yogyakarta] : Universitas Gadjah Mada
2011
|
| Subjects: | |
| Online Access: | https://repository.ugm.ac.id/89818/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=51081 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | This research aim to estimate an intrinsic value of BNI share when doing
secondary public offering by using constant growth models and relative valuation.
This research also used data of BNI financial statement�s during the last five year
from 2002 until 2006. Method analysis of discounted cash flow conducted by :
financial statement projection, growth rate, and value estimation. Relative
valuation started with searching similar company in the same field of industry and
chosening and specifying appropriate ratio or multiples from similar company.
This Multiples used to convert a relevant book value variable from BNI become
an estimation of market value. Multiples or ratio which used were : PER (Price
Earning Ratio).
The result from this research by using constant growth models obtained an
intrinsic value estimation of BNI share at June 2007 range from Rp.1.162,26 up to
Rp. 2.768,15. Result by using for the estimation of stocks price per share BNI by
using PER equal from Rp. 1.611,60 up to Rp. 2.155,60. Based on this both
approaching, price of BNI share at this time possibility fair. |
|---|