RELEVANSI INFORMASI DIVIDEN, LABA DAN ARUS KAS PADA PENILAIAN PERUSAHAAN YANG BERTUMBUH DAN PERUSAHAAN YANG TIDAK BERTUMBUH : PENDEKATAN EXPLORATORY FACTOR ANALYSIS

KHOIRUL, HIKMAH and SHINTA HERU, SATOTO (2012) RELEVANSI INFORMASI DIVIDEN, LABA DAN ARUS KAS PADA PENILAIAN PERUSAHAAN YANG BERTUMBUH DAN PERUSAHAAN YANG TIDAK BERTUMBUH : PENDEKATAN EXPLORATORY FACTOR ANALYSIS. Proceeding Business Conference "Bisnis dan Isu-isu Global" 6-12-2012, - (-). 13.1-13.23. ISSN -

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                                                Abstract

                                                The purposes of this study were to provide an empirical evidence of valuation model relevancy using Investment Opportunity Set (IOS) . This research used 68 firms that list on Indonesian Capital Market on 2008 until 2010 periods and grouping on firms that have high growth opportunities (high IOS) and firms that have low growth opportunities (low IOS). The valuation model were measure by dividend information, retained earning, and free cash flow. The empirical result showed that retained earning and dividend significantly influenced stok price, but free cash flow has no significantly influence on stock price. It also proved that investor used dividend yield and discounted cash flow model as the relevant valuation model on firm that have high growth opportunity. It could be because in Indonesian firms, the growth of the firms are not constant and the analysis of P/E ratio is not proper to use. Keywords: Investment Opportunity Cost, dividend, retained earning, free cash flow, makalah, Seminar Nasional, BC2012

                                                Item Type: Article
                                                Subjects: 600 Teknologi
                                                Divisions: Fakultas Ekonomi > Manajemen
                                                Depositing User: Eny Suparny
                                                Date Deposited: 17 Jan 2013 11:03
                                                Last Modified: 17 Jan 2013 11:03
                                                URI: http://repository.upnyk.ac.id/id/eprint/5081

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