GUNAWAN, SATRIO (2010) ANALISIS PERBANDINGAN KINERJA PASAR DAN KINERJA FUNDAMENTAL KEUANGAN PERUSAHAAN MULTINASIONAL DAN NASIONAL. S2 thesis, Universitas Mercu Buana.
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Abstract
This research analyzed the market performance of Multinational companies (MNC) and National companies (NTC) in Indonesia Stock Exchange (BEI). The period of time that used in this research,between those companies . the difference of financial fundamental has also been analyzed based on few financial performance stated in their report, The market performance employed Sharpe measure, while ROA,ROE,PER,PBV and DER were used for analyzing financial fundamental. The samples used in this research were all stock that included in LQ 45 and later on it was chosen by judgement sampling method into MNC and NTC , The financial fundamental data was taken from company financial report in December 2005,2006,2007 and 2008 while for the Sharpe measure performance, all of the stock price,IHSG and SBI were used and taken monthly at January 2005 until December 2008. This research was comparing both average Sharpe measure and financial fundamental average between MNC and NTC. In the first result was either average Sharpe measure there was a significant difference and average financial fundamental ROA,ROE,PER,PBV and DER between MNC and NTC showed no significant difference except for the excess return there was a significant difference and return volatility average that there was no significant difference. From the result of this research obtained that for MNC , AALI stock has the highest Sharpe measure, while INCO has the lowest. For NTC PTBA stock has the highest Sharpe measure, while ENRG has the lowest. Either the highest or positive Sharpe measure performance that obtained in this research using ex-post data, it indicates thaht we can expect the future performance are much better at ex-ante. This research suggest more samples included and using longer time period. And also separates the MNC which diversify their operational in developed and developing country, Research in each industrial sector and whole lisied companies are also suggested.Penelitian ini menganalisis kinerja pasar pada perusahaan Multinasional (MNC) dan perusahaan Nasional (NTC) di Bursa Efek Indonesia (BEI), dan antara kedua jenis perusahaan tersebut, juga dilakukan analisis perbedaaan fundamental keuangan berdasarkan pada beberapa rasio yang terdapat pada laporan keuangan, ukuran kinerja pasar yang digunakan dalam penelitian ini adalah Sharpe measure, sedangkan fundamental keuangan yang digunakan adalah ROA,ROE,PER,PBV,dan DER. Sampel yang digunakan adalah saham yang termasuk kedalam saham LQ 45 dan kemudian dipilih dengan menggunakan metode judgement sampling menjadi jenis MNC dan NTC , data fundamental keuangan yang diambil dari laporan keuangan perusahaan pada Desember 2005,2006,2007,2008, sedangkan data yang digunakan untuk menghitung Sharpe measure , yaitu harga saham IHSG dan suku bunga SBI diambil secara bulanan pada periode Jan 2005 – Des 2008. Penelitian ini membandingkan Sharpe measure dan fundamental keuangan antara MNC dengan NTC, pada penelitian ini didapatkan hasil bahwa rata rata Sharpe measure berbeda secara signifikan ,dan ROA,ROE,PER,PBV dan DER untuk kedua jenis perusahaan tersebut tidak berbeda secara signifikan, sedangkan untuk variabel excess return berbeda secara signifikan , dan return volatility memiliki rata – rata yang tidak berbeda secara signifikan. Dari hasil penelitian ini didapatkan bahwa untuk jenis MNC saham AALI memiliki Sharpe measure tertinggi,sedangkan saham INCO adalah yang terendah. Untuk jenis NTC saham PTBA memiliki Sharpe measure tertinggi, sedangkan saham ENRG adalah yang terendah, nilai Sharpe measure yang tinggi tersebut maupun bernilai positif yang dihasilkan dari penelitian ini dengan ex-post data, dapat diharapkan akan memberikan kinerja yang lebih baik lagi pada ex-ante. Saran bagi penulis selanjutnya adalah penguasaan periode penelitian yang lebih lama juga pemilahan sampel MNC yang beroperasional pada negara maju dan negara yang sedang berkembang, penelitian persektor industri maupun secara keseluruhan juga disarankan.
| Item Type: | Thesis (S2) |
|---|---|
| Call Number CD: | CDT-551-10-156 |
| NIM/NIDN Creators: | 55106120019 |
| Uncontrolled Keywords: | MKU, MANAJEMEN KEUANGAN |
| Subjects: | 100 Philosophy and Psychology/Filsafat dan Psikologi > 150 Psychology/Psikologi > 154 Subconscious and Altered States and Process/Psikologi Bawah Sadar > 154.6 Sleep Phenomena/Fenomena Tidur > 154.63 Dreams/Mimpi > 154.634 Analysis/Analisis 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 658 General Management/Manajemen Umum |
| Divisions: | Pascasarjana > Magister Manajemen |
| Depositing User: | UMMI RAHMATUSSYIFA |
| Date Deposited: | 12 May 2022 05:27 |
| Last Modified: | 26 Apr 2024 06:48 |
| URI: | http://repository.mercubuana.ac.id/id/eprint/61068 |
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