THE VALUATION OF INITIAL SHARE PRICE USING THE FREE CASH FLOW TO FIRM METHOD AND THE REAL OPTION METHOD IN INDONESIA STOCK EXCHANGE

Authors

  • Adhy Listya Paramitha Business Management Post Graduate Program Institut Pertanian Bogor Raya Pajajaran Street, Bogor 16143
  • Sri Hartoyo Business Management Post Graduate Program Institut Pertanian Bogor Raya Pajajaran Street, Bogor 16143
  • Nur Ahmad Maulana Business Management Post Graduate Program Institut Pertanian Bogor Raya Pajajaran Street, Bogor 16143

:

https://doi.org/10.9744/jmk.16.1.9-16

Keywords:

IPO, Free Cash Flow to Firm, Real Option

Abstract

The purposes of this study were to determine fair share value, to analyze the factors that influence undervalue and overvalue, and to determine the best valuation method. This study made valuation using real options method and free cash flow to firm method. The results of partial logistic regression on Free Cash Flow to Firm showed that tenor variable and equity variable had positive and significant effects, while dummy variable had a negative and significant effect. In the real option model, tenor variable and implied volatility variable had positive and significant effects, while sheets of share variable had a negative and significant effect

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Published

2014-02-17

How to Cite

Paramitha, A. L., Hartoyo, S., & Maulana, N. A. (2014). THE VALUATION OF INITIAL SHARE PRICE USING THE FREE CASH FLOW TO FIRM METHOD AND THE REAL OPTION METHOD IN INDONESIA STOCK EXCHANGE. Jurnal Manajemen Dan Kewirausahaan, 16(1), 9-16. https://doi.org/10.9744/jmk.16.1.9-16

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