CAPITAL ASSET PRICING MODEL SEBAGAI DASAR PENGAMBILAN KEPUTUSAN INVESTASI SAHAM PADA PERUSAHAAN YANG TERDAFTAR DI LQ-45

ELPINA INDRASWORO PUJI RAHAYU

Abstract


This study is quantitative descriptive research to firm that listed in Stock Exchange of Jakarta, Muhammadiyah University of Malang by title, ?Capital Asset Pricing Model as Base Decision Taking of Investment to Firm that Listed in LQ-45?.
The goal of this study is to know how to determine stock investment appropriately to each kind of investor by using CAPM to Firm that listed in LQ-45.
The analysis tool is used to know how to determine stock investment appropriately to each kind of investor by through calculation step are; Return Individual (Ri), Return Market (Rm), Risk Free Rate, Beta (β), and Expected Return (E(Ri)).
Base on the calculation by using CAPM analysis may be know that base on the stock observed show that beta (β) and Expected Return E(Ri) have highest on BLTA stock by (β) value about 1,7686490 and E(Ri) about 0,728129, and the last position in LSIP stock by (β) value about -0,344396 and E(Ri) value about -0,127649. Base on the calculation, generally may be know that SML linier it shows more high risk on stock (β) then more high also to benefit degree that be expected E(Ri) from stock investment.
Beside that based on the calculation may be determine stock investment that more exactly to each kind of investor are follow: for risk seeker then stock investment will be done to BLTA, PNLF, UNVR, ASII, BBRI, ANTM, CTRS, ADHI, MPPA, PNBN, BNII, INCO, and RALS stock; while to risk neutrality then stock investment will done to INDF, CMNP, BRPT, TLKM, SMRA, and BBCA stock; and the last for risk averter then stock investment will done by ADMG, BDMN, ISAT, INTP, BMRI, MEDC, KLBE, KIJA, INKP, LPKR, UNTR, PGAS, BUMI, GJTL, SMCB, PTBA, ENRG, TKIM, BTEL, BNGA, and AALI stock.
Base on the conclusion above, so writer may imply that investor invest their fund to stock that suitable with kind of investment in face risk.

 

Keyword : CAPITAL ASSET PRICING

 

Link Terkait : http://skripsi.umm.ac.id/files/disk1/244/jiptummpp-gdl-s1-2008-elpinaindr-12171-I++PENDA-N.pdf


Keywords


CAPITAL ASSET PRICING