Analisis Nilai Perusahaan Pada Perusahaan Subsektor Perbankan  Yang Terdaftar Di Bursa Efek Indonesia

Hamidah, Wardah; Hidayati, Siti Aisyah; Kusmana, Agus

doi:10.21460/jrak.2021.172.402

Cited by 4 publications

(5 citation statements)

References 3 publications

(5 reference statements)

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“…This information is used as a basis for measuring bank performance and soundness more effectively. These results are in line with several previous studies conducted by Maramis (2022), Azmansyah, et al (2022), Gaspar, et al (2022), Naibaho, et al (2022, Kristina & Prasetyo (2022), Fitriani, et al (2022), Dewi, et al (2022, Putri & Suryani (2022), Hikmah (2022), Yunita (2022) which stated that the RGEC method was very good in assessing the banks soundness level.…”

Section: Methodssupporting

confidence: 91%

Analysis of Bank Soundness Level at Regional Development Bank of Bali for 2012 to 2021

2023

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The purpose of this study is to analyze the health level at RDB of Bali by using the Risk Based Bank Rating (RBBR) method. The RBBR method includes Risk Profile, Good Corporate Governance, Earnings, and Capital (RGEC). A quantitative descriptive approach was used to analyze. The variables in this study are the Risk Profile includes the ratio of Non Performing Loans (NPL) and Loan to Deposit Ratio (LDR), Good Corporate Governance (GCG) uses the composite value of GCG, Earnings includes the ratio of Return on Assets (ROA) and Net Interest Margin (NIM) and Capital includes the Capital Adequacy Ratio (CAR). Data were collected from annual reports for the period 2012 to 2021. The results showed that RDB of Bali obtained a composite rating of 2, which means the bank is in a healthy condition.

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Section: Methodssupporting

confidence: 91%

Analysis of Bank Soundness Level at Regional Development Bank of Bali for 2012 to 2021

2023

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“…Penelitian yang dilakukan Ye pada Shanghai Stock Exchange juga menunjukkan bahwa metode yang diciptakan oleh Joel Greenblatt menghasilkan return yang lebih tinggi dari pasar sejak tahun 2007 hingga 2010 (Ye, 2013). Penelitian yang dilakukan di Indonesia pada tahun 2013 hingga 2018 juga menghasilkan pengembalian Magic Formula rata-rata 12.67%, lebih tinggi dari pengembalian pasar yang hanya 5.31% (Jannah & Imansyah, 2019).…”

Section: Pendahuluanunclassified

Magic Formula: Sebuah Tinjauan dalam Prediksi Perusahaan-Perusahaan Unggulan di Indonesia

Premananda

Risad²

2023

j. akunt. keuang. manaj.

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Purpose: This study aimed at investigating the performance of a value investing strategy called the “Magic Formula”, introduced by Joel Greenblatt (2006), applied to the Indonesian Stock Exchange. Magic Formula is a simple stock selection strategy by ranking stocks based on calculating Return on Capital and Earnings Yield. Methodology: First, this study examined stocks listed on the Indonesia Stock Exchange represented by the Kompas 100 index measuring the price performance of 100 stocks that have good liquidity and large market capitalization. This step was followed by eliminating finance stocks because they have different debt postures which will affect the calculation in the next stage. The next step was to choose the top thirty stocks from the combined rank to become a portfolio. Portfolio rebalancing is conducted annually. Sharpe, Treynor, and Jensen’s Alpha analysis were used to measure returns adjusted for risk. Results: This study showed that using return on capital and earnings yields can produce higher average returns than the market index from April 2015 to April 2019. The Magic Formula portfolio yields an average return of 12.76% and the market produces average returns of 6.89% during the period under test. Limitations: The obtained data were derived from 5 years-data of the Indonesia Stock Market. in order to neglect the Efficient Market Hypothesis, the collection of wider data was required. besides, the result of this study is unusable to test the Efficient Market Hypothesis at weak or strong level. Contribution: This study contributes empirical evidence that the Magic Formula is a solid investment model especially considering its simplicity. Magic Formula can be used as an early stage in the process of selecting a company to invest in. Keywords: 1. Value Investing 2. Magic Formula 3. Earning Yield 4. Return on Capital 5. Investment Strategy

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“…Entering the beginning of 2020, the global community was faced with various problems, resulting in a very high inflation rate. The increase in inflation was Jannah & Imansyah, (2019) aimed to investigate the performance of the Magic Formula investment strategy introduced by Joel Greenblatt applied to the Indonesia Stock Exchange. The results concluded that the Magic Formula could be applied to the Indonesia Stock Exchange and outperform the average return of the Composite Stock Price Index (IHSG).…”

Section: Introductionmentioning

confidence: 99%

“…The results of the above studies indicate that the Magic Formula can outperform benchmarks in stock indices in Finland, Brazil, Sweden, and Indonesia. Additionally, Jannah & Imansyah (2019) concluded that while the Magic Formula has a good track record based on previous research, a good track record is not the reason why investors should follow the Magic Formula. This is because the information presented is based on historical financial report data, while future pricing will heavily depend on the company's performance in the future.…”

Section: Introductionmentioning

confidence: 99%

Comparison of Active And Passive Investment Strategies on The Indonesian Stock Exchange 2013 -2024 With The Magic Formula Method

Adi Sarosa,

Mahadwartha

2024

Eduvest

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This research aims to compare Active and Passive Investment Strategies on the Indonesian Stock Exchange for the 2013-2024 Using the Magic Formula Method introduced by Joel Greenblatt (2010), which is then optimized again using the Single Index Model. Magic formula is a simple stock selection strategy by sorting stocks based on Return on Capital (ROC) and Earning Yield (EY). The shares to be selected are included in the Kompas100 Index. The selected shares have also been listed on the stock exchange for a minimum of 18 months. Shares included in financial shares will be eliminated. The next step is to select 20 shares to be formed into a Portfolio based on the top ranking of the ROC and EY scores, these 20 shares will be optimized using the Single Index Model method. For active strategies, rebalancing will be carried out every year, while for passive strategies, buy and hold will be carried out. The results of this active strategy will be compared with passive strategies and IHSG. Portfolio measurement will be carried out in 4 ways, namely: return, Sharpe ratio, Treynor ratio and Jensen Alpha. The return from the optimized Magic Formula shows a value of 217.04%, higher than the original Magic Formula return of 43.43% and the passive strategy of 35.04% and the IHSG return of 47%, but the final research results of the portfolio show measurements based on return, ratio Sharpe, and Treynor ratios were not significantly different, being significantly different only from Jensen Alpha measurements.

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Analisis Nilai Perusahaan Pada Perusahaan Subsektor Perbankan Yang Terdaftar Di Bursa Efek Indonesia

Cited by 4 publications

References 3 publications

Analysis of Bank Soundness Level at Regional Development Bank of Bali for 2012 to 2021

Analysis of Bank Soundness Level at Regional Development Bank of Bali for 2012 to 2021

Magic Formula: Sebuah Tinjauan dalam Prediksi Perusahaan-Perusahaan Unggulan di Indonesia

Comparison of Active And Passive Investment Strategies on The Indonesian Stock Exchange 2013 -2024 With The Magic Formula Method

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