DETAIL KOLEKSI

Faktor-faktor fundamental dari risiko sistematis di bursa efek indonesia


Oleh : Muhammad Golfano Komalyono

Info Katalog

Penerbit : FEB - Usakti

Kota Terbit : Jakarta

Tahun Terbit : 2011

Pembimbing 1 : Heru S. Nugraha

Subyek : Ratio analysis;stocks - prices;risk management;corporations - finance.

Kata Kunci : systematic risk (beta), financial ratio, backward stepwise


File Repositori
No. Nama File Ukuran (KB) Status
1. 2011_TA_MJ_022060265_7.pdf 5444.63
2. 2011_TA_MJ_022060265_6.pdf 2185.59
3. 2011_TA_MJ_022060265_5.pdf 2337.24
4. 2011_TA_MJ_022060265_4.pdf 2185.34
5. 2011_TA_MJ_022060265_3.pdf 2264.65
6. 2011_TA_MJ_022060265_2.pdf 2151.97
7. 2011_TA_MJ_022060265_1.pdf 2257.22

P Penelitian ini bertujuan untuk meneliti hubungan antara fundamental informasi keuangan perusahaan dan risiko sistematis (beta) di tiap sektor industri, dimana dibagi menjadi tiga sektor industri yaitu perbankan, asuransi, non-financial yang terdapat dalam Bursa Efek Indonesia. Sampel penelitian diambil selama 3 tahun, yaitu periode 2006, 2007, dan 2008 dengan jumlah sample total sebanyak 66 perusahaan. Metodologi yang digunakan dalam penelitian ini adalah analisis regresi bertahap yang dilakukan secara backward stepwise, antara rasio keuangan yang fundamental untuk masing-masing industri (independent variable) dan risiko sistematis (dependent variable). Berdasarkan hasil analisis diperoleh hasil bahwa pada sektor perbankan, ditemukan faktor-faktor atau rasio keuangan yang memiliki hubungan dengan resiko sistematis, antara lain net interest margin (NIM ), cash flow/HVPS, EBITDA/share, EBITDA/total assets, EBITDA after dividends/ share. Pada sektor asuransi ditemukan faktor-faktor atau rasio keuangan yang memiliki hubungan secara signifikan terhadap resiko sistematis, antara lain total asset/equity, total liabilities/equity, total liabilities/total assets, return on equity, net cash operating/fixed asset purchase, net cash operating/fixed assets, net cash operating/ total assets, fixed asset purchase/total asset, cashjlow/BVPS, EBITDA/fixed assets, EBITDA/total assets. Untuk sektor non-financial, sales/total assets, pretax income margin, net cash operating/total assets, adalah faktor­ faktor atau rasio keuangan yang memiliki hubungan secara signifikan terhadap resiko sistematis. Hasil tersebut menunjukkan manajemen perusahaan agar dapat memperhatikan faktor-faktor tersebut, untuk dapat mengurangi risiko sistematis dan meningkatkan kemampuan perusahaan.

T This study aims to examine the relationship between the fundamentals of corporate financial information and systematic risk (beta) in each industrial sector, which is divided into three industrial sectors is banking, insurance, non-financial listed in Indonesian Stock Exchange. Samples of research taken during 3 years, the period of 2006, t2007, tand t2008 twith ta ttotal tsample tof t66 tcompanies. The methodology used in this study is the stepwise regression analysis conducted backward stepwise, between fundamental financial ratios for each industry (independent variable) and systematic risk (dependent variable). Based on the analysis showed that the banking sector, found the factors or financial ratios that have a relation with systematic risk, such as net interest margin (NIM), cash flow I BVPS, EBITDA I share, EBITDA I total assets, EBITDA after dividends I share. In the insurance sector found the factors or financial ratios that are significantly related to systematic risks, such as total assets I equity, total liabilities I equity, total liabilities I total assets, return on equity, net operating cash I purchase fixed assets, net operating cash I fixed assets, net operating cash I total assets, fixed asset purchase I total assets, cash flow I BVPS, EBITDA I fixed assets, EBITDA I total assets. For non-financial sector, sales I total assets, pretax income margin, net operating cash I total assets, are the factors or financial ratios that have a significant relationship to systematic risk. These results show management company in order to consider these factors, in order to reduce systematic risk and increase the ability ofthe company.

Bagaimana Anda menilai Koleksi ini ?