The Effects of Technical and Fundamental Factors on the Investment Decision and the Company Value in the Agricultural Sector
https://doi.org/10.35877/454RI.qems201
Keywords:
DER, stock price, company value, investment decisions, TVA, PBV
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Viewed = 96 time(s)
Abstract
This study aims to analyze the influences of technical variables, which consist of the stock price and the Total Volume Activity (TVA), as well as fundamental variables, which consist of the Price Book Value (PBV) and the Debt to Equity Ratio (DER) on the investment decisions and the company value measured by using the PER of some companies of agricultural sector listed in the Indonesian Stock Exchange. Path analysis is used as the data analysis method. The research results show that one of the technical factors that significantly influences the investment decision and the company value is the stock price. Meanwhile, one of the fundamental factors that influences the investment decision and the company value is the PBV. The hypothesis testing showing that the stock price factor and the PBV factor have positive effects on the value of agricultural sector company is proven or accepted. On the other hand, the other variables, according to theorema trimming, are proved to be not includable in the path calculation if the path is proved to be insignificant, in this case the DER and the trading volume variable
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Tapa, Afiruddin dan Hussin, Maziah. 2016, The Relationship between Stock Return and Trading Volume in Malaysian ACE Market. International Journal of Economics and Financial Issues, 6(S7) 271-278
Wang, Yun-Chin Jean Yu dan Shiow-Ying Wen. 2014.Does Fundamental and Technical Analysis Reduce Investment Risk for Growth Stock? An Analysis of Taiwan Stock Market
Ariska, M., Fahru, M., & Kusuma, J. W. (2020). Leverage , Ukuran Perusahaan dan Profitabilitas dan Pengaruhnya Terhadap Tax Avoidance Pada Perusahaan Sektor Pertambangan di Bursa Efek Indonesia Tahun 2014-2019 Leverage , Ukuran Perusahaan dan Profitabilitas dan Pengaruhnya Terhadap Tax Avoidance Pada. Jurnal Revenue : Jurnal Ilmiah Akuntansi, 01(01), 133–142.
Ende, E., & Kusuma, J. W. (2017). Peran Citra Merek, Persepsi Harga, Persepsi Risiko Terhadap Minat Beli Produk Smartphone Merek Xiaomi. Sains: Jurnal Manajemen Dan Bisnis, 9(2), 349–365. https://doi.org/10.35448/jmb.v9i2.4169
Kusuma, J. W., Jefri, U., Hidayat, A., & Hamidah, H. (2020). Application of Treffinger Learning Model to Improve Creative Reasoning and Mathematical Problem Solving Skills as Well as Student Learning Interests. JTAM (Jurnal Teori Dan Aplikasi Matematika), 4(2), 204. https://doi.org/10.31764/jtam.v4i2.2840
Ahmad, Gatot Nazir dan Siahaan, Mega Elvinda. 2016. Analysis of Financing Decision, Investment Decision, Dividend Policy And Value of The Firm That Listed On Kompas 100 Index. Faculty of Economics, State University of Jakarta.
Ali Ahmadi. 2018. The Stock Price Valuation of Earnings Per Share and Book Value: Evidence From Tunisian Firms. International Journal of Economics and Financial Issues, 2016, 6 (S7) 271-278.
Baresa, Suzana; Bogdan, Sinisa; Ivanovic, Zoran 2016. Capital investments and financial profitability, UTMS Journal of Economics, ISSN 1857-6982, University of Tourism and Management, Skopje, Vol. 7, Iss. 1, pp. 49-59
Boumosleh, Anwar 2012. Firm Investment Decisions, Dividend Policy, And Director Stock Options. The Journal of Applied Business Research – July/August 2012 Volume 28, Number 4. Page 750-768
Chen, S. J. Son-Nan Chang dan William T. Moore. 2014. The effect of uncertain inflation on firm value in a multiperiod economy. Review of Quantitative Finance and Accounting. March 1, Volume 4, Issue 1, pp 47–58
Cheung, William Mingyan, Richard Chung dan ScottFung. 2015. The Effects Of Stock Liquidity On firm Value and Corporate Governance: Endogeneity and The REIT experiment. Journal Coorparate Finance. Pg. 231-232
Djamaluddin, Said, Maryadi dan Bambang Marsoem. 2018. The Effect of the Fundamental Faktors Against Price to Book Value on Building Construction Sub-Sector Companies in Indonesia Stock Exchange 2012-2016
Drakopoulou Veliota, 2015. A Review of Fundamental and Technical Stock Analysis Techniques. J Stock Forex Trad. ISSN: 2168-9458 JSFT, Volume 5 No.1.
Farooq, Muhammad Azhar dan Masood, Ahsan. 2016. Impact of Financial Leverage on Value of Firms: Evidence from Cement Sector of Pakistan. Research Journal of Finance and Accounting Vol.7, No.9, Page 73-77
Hajering 2018. The Influence of Investment Decisions, Funding Decisions and Dividend Policies On Financial Performance And The Value Of Banking Companies Listed In Indonesia Stock Exchange. International Journal of Business and Management Invention (IJBMI)ISSN (Online): 2319 – 8028, ISSN (Print): 2319 – 801Xwww.ijbmi.org || Volume 7 Issue 10 Ver. 1 || October 2018 || PP—63-71
Jeleel, Abdul dan Olayiwola, Badmus. 2017. Effect of Leverage on Firm Performance in Nigeria: A Case of Listed Chemicals and Paints Firms in Nigeria. Journal of Internet Banking and Commerce. Volume 2. Page. 121- Isuue 1 ISSN: 1204-5357
Kasmir, 2008. Bank dan Lembaga Keuangan Lainnya. Edisi Revisi 2008. Jakarta: PT. RAJAGRAFINDO PERSADA
Martono dan, Harjito, Agus. 2013 Manajemen Keuangan,edisi1.yogyakarta: EKONISIA
Masry, Mohamed. 2017. The Impact of Technical Analysis on Stock Returns in an Emerging Capital Markets (ECM‘s) Country: Theoretical and Empirical Study International Journal of Economics and Finance; Vol. 9, No. 3.
Muhammad, Shakeel dan Ali, Gohar.2018. The Relationship Between Fundamental Analysis and Stock Returns Based on the Panel Data Analysis; Evidence from Karachi Stock exchange (KSE). Research Journal of Finance and Accounting. Vol.9, No.3.Page. 84-96
Murniati, Sitti. Abdul Rahman Mus, Baharuddin Semmaila dan A. Nirwana Nur. 2019. Effect of Investment Decisions, Financing Decisions and Dividend Policy on Profitability and Value of The Firm. International Journal of Accounting & Finance in Asia Pasific (IJAFAP) Vol. 2 No. 1, Page 110-121
Petrusheva, Nada dan Jordanoski, Igor.2016. Comparative Analysis Between The Fundamental And Technical Analysis Of Stocks. Journal of Process Management – New Technologies, International Vol. 4, No.2
Ramadan Imad Zeyad R. 2015, Leverage and the Jordanian Firms’ Value: Empirical Evidence. International Journal of Economics and Finance; Vol. 7, No. 4.73-80
Suresh. A.S,.2013. A Study on Fundamental and Technical Analysis. International Journal of Marketing, Financial Services & Management Research ISSN 2277- 3622 Vol.2, No. 5.page 44-59
Sutrisno. 2012. Manajemen Keuangan Teori, Konsep dan Aplikasi. Yogyakarta: EKONISIA.
Tapa, Afiruddin dan Hussin, Maziah. 2016, The Relationship between Stock Return and Trading Volume in Malaysian ACE Market. International Journal of Economics and Financial Issues, 6(S7) 271-278
Wang, Yun-Chin Jean Yu dan Shiow-Ying Wen. 2014.Does Fundamental and Technical Analysis Reduce Investment Risk for Growth Stock? An Analysis of Taiwan Stock Market
Published
2020-11-28
Issue
Section
Articles
How to Cite
Mamay Komarudin, & Naufal Affandi. (2020). The Effects of Technical and Fundamental Factors on the Investment Decision and the Company Value in the Agricultural Sector. Quantitative Economics and Management Studies, 1(6), 411-425. https://doi.org/10.35877/454RI.qems201
