ANALISIS CAPITAL ASSET PRICING MODEL (CAPM) UNTUK MENENTUKAN TINGKAT PENGEMBALIAN INVESTASI SAHAM PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI PT. BURSA EFEK JAKARTA

Sutiyasih Sutiyasih

Abstract


Using the Capital Asset Pricing Model (CAPM) to determine rate of return of invesment expected can lessen and minimize risk level which emerge and reckon rate of return at the time of invesment conducted by investor.
In this research, writer take formulation of problem how to determine rate of return of invesment share by using Capital Asset Pricing Model (CAPM) at company of food and beverage enlisted at PT. Bursa Efek Jakarta.
In order to the problem not extend, hence require to be given limit-pricing share of food and beverage company as much eleven company, Prince Index of Merger Share (IHSG) during three year that is December 1999 – December 2002 and also rate of interest of governmental obligation pursuant to series FR (Fixed Rate).
Purpose of this Research is to identify how far usefulness of Capital Asset Pricing Model (CAPM) to assist investor in determining decision invesment of share so that can be reckoned by an advantage and disadvantage which is possible happened when conducting share invesment.
Technique of data analyse utilized to know rate of return expected and risk of invesment of share by using Capital asset Pricing Model (CAPM) with the following formula:
Rj = Rf + (Rm - Rf)
=
Based on the calculation by using analysis Capital Asset Pricing Model (CAPM) can known that share sensitivity level ( ) food and beverage company checked and noted at PT. Bursa Efek Jakarta, showing highest is PT. Cahaya Kalbar Tbk equal to 0.6311 and the lowest is at PT. Suba Indah Tbk equal to 0.0021.
From rate of return expected by food and beverage company that checked and noted at PT. Bursa Efek Jakarta, seen highest is PT. Suba Indah Tbk equal to 0.1297 and lowest is PT. Cahaya Kalbar Tbk equal to 0.0416.

 

Keyword : capital asset pricing model; tingkat pengembalian saham

 

Link Terkait : http://skripsi.umm.ac.id/files/disk1/25/jiptummpp-gdl-s1-2004-sutiyasih9-1231-PENDAHUL-N.pdf


Keywords


capital asset pricing model; tingkat pengembalian saham