印尼證券交易所LQ45指數上市商業銀行自由現金流轉股權模型（FCFE）和股息貼現模型（DDM）的比較

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Title:	印尼證券交易所LQ45指數上市商業銀行自由現金流轉股權模型（FCFE）和股息貼現模型（DDM）的比較 Comparison of Free Cash Flow to Equity Model (FCFE) and Dividend Discount Model (DDM) in Commercial Banks Listed on the LQ45 Index of the Indonesia Stock Exchange
Authors:	陳盈韶 KUSUMA, TAN WYNNE KUSUMA/TAN WYNNE
Contributors:	全球商務碩士學位學程碩士班
Keywords:	估值模型 FCFE模型股息貼現模型內在價值市場價值 valuation model FCFE model Dividend Discount Model Intrinsic Value Market Value
Date:	2023
Issue Date:	2023-08-01 10:04:10 (UTC+8)
Abstract:	Due to the COVID-19 outbreak, the banking sector is one of the sectors that have the deepest slump in Indonesia's stock markets. However, over time, the banking sector continues to rise in price, even can exceed pre-covid prices. Consequently, there is a prospect of growth in the Capital market, which influenced the growing demand for valuation models for investors to take advantage of this increase in value and have the potential for a significant gain from their trades. This thesis aims to compare the free cash flow to equity (FCFE) model and dividend discount (DDM) model used for valuing the commercial banks listed on the LQ45 index on Indonesia Stock Exchange. The samples of this research are BBCA, BBRI, BMRI, BBNI, and BBTN, commercial banks incorporated in the LQ45 index. The valuations will conclude if they are accurate business valuation methods and if one of the two models gives a more precise estimation of the companies' actual market values supported by basic relative valuation techniques. This thesis tries to answer whether one of the models is better for commercial banks in Indonesia. This thesis relies on primarily qualitative secondary data of the selected companies, from companies' financial reports, the Indonesia Stock Exchange website, and Bank Indonesia.
Appears in Collections:	[English Program of Global Business] Thesis

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