ANALISIS SAHAM PERUSAHAAN BADAN USAHA MILIK NEGARA (BUMN) DAN NON BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA : DENGAN PENDEKATAN PRICE EARNING RATIO (PER) DAN PRICE BOOK VALUE(PBV)

Prabawa, Sri Adji (2014) ANALISIS SAHAM PERUSAHAAN BADAN USAHA MILIK NEGARA (BUMN) DAN NON BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA : DENGAN PENDEKATAN PRICE EARNING RATIO (PER) DAN PRICE BOOK VALUE(PBV). The Manager Review Jurnal Ilmiah Manajemen, 13 (3). pp. 371-385. ISSN 1979-2239

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Abstract

This s tudy is to identi fy h ow sh are pri c es of s tate o wn ed e nte r p rise and p riv ate e nte rprise liste d at I nd o nes i a St oc k E xch ang e ( I D X) det er mi n ed fai rly b oth b y P ri ce Earning Ratio (P ER ) and P ri c e To B o o k V al ue ( P B V ) ap p ro ac h a nd h o w i ts e ffi c i e nc y . Thresult s how stocks whic h c ons i s te ntl y und e rv al u e d b ot h by P ER a n d P BV a p p ro ac h a r e t wo state-o wn ed s ha re s , n am ely : PT Ban k Mandiri Tbk a n d PT Wijaya Ka r y a Tbk , wh il e there a re fou r p ri vate e n terp rises shares c onsi s tently un dervalue d n amely , PT XL Ax iata Tbk, PT Ban k Da nam on Tbk, PT Petrosea Tbk, an d PT Nic ke l Asia Corp.Tbk. The results al so s howed PT Wijaya Karya T b kan d PT Nic kel Asia Corp. Tbk i s mo re e ffi c i ent th an t he oth er fou r s toc ks und e rvalue d . However, w hen vi e we d from th e a bi l ity to p rodu ce the h i ghe st op erating pro fit a re PT Bank Mandiri Tbk, PT Bank Danamon Tbk followed , PT XL Axia ta Tbk, PT Petros ea Tbk , an d PT Wijaya Ka r ya Tbk a n d t h e l as t i s PT Nickel Asia Corp. Tbk . Ov er al l th e resu lts of th e identi fication of un derva l ued stocks i n the study engag ed i n ba nking, c onstructio n, mi ning and telecommunications sectors.

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