Residual Income Model (RIM) is an accounting approach introduced and used by Feltham and Ohlson to measure firm value using future income based on most current information. The surplus relation applying firm earning and book value is used to forecast with consistent manner. This research uses RIM to valuate the pharmaceutical companies’ stocks listed on the Indonesia Stock Exchange (IDX) for the year of 2010-2019 to be able to estimate the intrinsic or fair values of the companies’ shares for the year of 2020-2023, compared to their current market values and used as the basis to make decisions. Macro economy information of Indonesia that strongly relate to the pharmaceutical companies are applied to forecast the future values of the companies and the stock market information to determine the market values and the investment interest rates. The stock intrinsic values of DVLA, INAF, KAEF, KLBF, MERK and PYFA are confirmed below the market values for the year of 2020-2023. But, the stock intrinsic values of SCPI are above the market values. Thus, the stock intrinsic values of TSPC are fair. There are 6 (six) company stocks overvalued or expensive, 1 (one) company stock is undervalued or cheap, and another is fair.
Due to lax corporate governance practices over the past few decades, fraud has both increased in severity and frequency. The goal of this research is to improve current governance systems to help businesses deal with issues in the global corporate environment. For a public company to succeed, it needs a solid corporate governance system. It is critical to establish appropriate transparency guidelines and procedures. Reforms are required to address existing issues and improve global corporate governance in the following ways: a. The audit committee must monitor and enforce financial and disciplinary matters; b. The board structure must be balanced; c. Continuous disclosure must be prioritized; d. CFOs and CEOs must be held explicitly accountable for their actions; e. The selective mechanism must be completed; and f. The auditor's role must be changed from that of a watchdog to that of a whistleblower.
This research aims to investigate the determinants of Risk Based Capital (RBC) of Indonesia’s general insurance public listed companies. Panel data regression model was used to analyze the internal and external variables influencing the RBC. This research finds that ratios of sales to total asset, gross profit to total asset, premium claim to total asset, investment to total asset, and interest have a significant impact on the RBC of Indonesia's publicly traded general insurance companies. JEL classification numbers: C650, G22, G32. Keywords: Sales to total asset, Policy rate, investment performance, Gross profit to total asset, Premium claim, Panel data regression model, Risk based capital (RBC).
Purpose:The aim of this article is to examine the need for posible chaanges in Corporate Governance. Design/methodology/approach: With the advent of technology, the ease of doing business is exponentially rising day by day. After experiencing the industrial revolution centuries ago, the world has been obsessed with it ever since and there is never a looking back but only moving forward, almost at the speed of a bullet train. With the ease of doing business, particularly in all and every field, the whole concept of industries, investors, proprietorships, negotiations, trade, marketing, almost every key element of a business corporation has evolved and is still evolving with changing times and changing needs. Findings: We all know and can agree that change is the only constant in life, and the sooner we adapt to the changes around us, the better and easier it will be for us to keep ourselves updated and advanced. Practical inplemantation: The study will keep us in a sink with this rapidly enhancing globe regarding corporate governance. Originality value: With every little change, comes a few setbacks that need immediate or subtle fixing depending upon their intensity.
This study examines the determinants of management confidence level of listed bank on the Indonesian Stock Exchange. The confidence level referred to confidence in deciding the deposit interest rate given to customers. The lower the interest rate compared to the other, the bank's management is more confident. This means that with lower deposit interest, management remains confident that customers remain loyal. This research used Model Panel Data to estimate determinants Banks Management Confidence Level in Indonesia moderated by Bank Scale. Banking ratio and macroeconomic data for period 2017 and 2021 become variable research in this paper. This research found that CAR and NPL has positive and significant effect on IETDR at level of Significant of 5%. Inflation and COVID have negative and significant effect on IETDR. Bank Scale or Bank Book as moderating variable could strength to IETDR for CAR and NPL. JEL classification numbers: C33, G21, L25, M21, N25, O16, P34. Keywords: Confidence, CAR, NPL, ROA, covid, Inflation, Interest Rate, Customer Satisfaction.
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