ESTIMASI NILAI WAJAR SAHAM PT BANK BUKOPIN TBK. PASCA PENAWARAN UMUM TERBATAS (RIGHT ISSUE) III TAHUN 2013
This study aims, first to estimate the fair value of the shares of PT Bank Bukopin post-rights issue in 2013. Secondly to determine whether the right issues affecting the fair value of the shares of PT Bank Bukopin. To estimate the fair value of the shares of PT Bank Bukopin used several methods are...
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| Main Authors: | , |
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| Format: | Theses and Dissertations NonPeerReviewed |
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[Yogyakarta] : Universitas Gadjah Mada
2014
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| Online Access: | https://repository.ugm.ac.id/130074/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=70486 |
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| Institution: | Universitas Gadjah Mada |
| Summary: | This study aims, first to estimate the fair value of the shares of PT Bank Bukopin post-rights issue in 2013. Secondly to determine whether the right issues affecting the fair value of the shares of PT Bank Bukopin. To estimate the fair value of the shares of PT Bank Bukopin used several methods are discounted cash flow FCFE, relative valuation, and residual income method. The fair value of these shares may be used as a reference in determining the company's current share price offered to public, otherwise it can be used by stockholders or investors to evaluate whether the offer price is overvalued or undervalued
To support the study, the data used financial statements of PT Bank Bukopin 2009 - 2013 (audited), financial statements comparison company, the stock price of PT Bank Bukopin, composite stock price index (IHSG) and the company's stock price comparison. Besides supporting data used include: global macroeconomic conditions and Indonesia in 2013 according to a report by Bank Indonesia and other sources.
Results reconciliation estimated fair value of shares of PT Bank Bukopin as of December 28, 2013 before the rights issue by using the discounted cash flow method with free cash flow to equity models, relative valuation, and residual income method to generate economic profit model of the value of Rp657 per share . Then the value of the estimated fair value which has been reconciled as of February 28, 2014 using the same method of generating value Rp676.
Keywords : fair market value, discounted cash flow with FCFE, relative valuation, residual income method with economic profit models |
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