Stock Valuation Analysis : P/GMV Dan LTV/CAC Pada Perusahaan Startup Di Asia Dan America

Wendyka Mazaka, Sri Wahjuni Latifah

Abstract


This study aims to evaluate and analyze the fair value of shares of startup companies in Asia and America using the Price to Gross Merchandise Value (P/GMV) and Lifetime Value to Customer Acquisition Cost (LTV/CAC) methods. The company is PT. Bukalapak.com Tbk, SEA Ltd, Ebay Inc, and Shopify Inc. This type of research is descriptive quantitative. The data used is financial report data for the period 218-2020, sourced from the official idx website. Research is conducted by identifying data, calculating formulas, analyzing data, and concluding. The results showed that the company's shares PT.Bukalapak.com Tbk & Ebay Inc. were undervalued, and SEA Ltd. and Shopify Inc. were overvalued. Asian startup stocks are no better than America. The limitation of this research is that there needs to be more data on startup companies listed on the IDX. Future research can expand research with empirical methods.



Full Text:

PDF

References


Akerlof, G.A. (1970). The Market For `Lemons’: Quality Uncertainty & The Market Mechanism. Quarterly Journal of Economics, pp. 488–500.

Cole, Andrew and Li, Y. (2020). Fundamental Valuation of The General Motors Company Assessing The Value in The Midst of A Pandemic.

Damodaran, A. (2002). Investment Valuation: Tools & Techniques for Determining the Value of Any Asset. New York: John Wiley & Sons, Inc.

Dwiastuti, S. and Dillak, V.J. (2019). Pengaruh Ukuran Perusahaan, Kebijakan Hutang, dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Aset (Akuntansi Riset), 11(1), pp. 137–146. doi:10.17509/jaset.v11i1.16841.

Graham, B., Dodd, D.L. and Buffet, W. (2008). Praise For The Sixth Edition Of Security Analysis. Prior Edit. McGraw-Hill.

Halim, A. (2018). Analisis Investasi dan Aplikasinya: Dalam Aset Keuangan dan Aset Rill. 2nd edn. Salemba Empat.

Horne, J.C. Van and John, M.W.J. (2012). Prinsip-Prinsip Manajemen Keuangan.

Kacaribu, A.A. (2021). Stock Valuation Analysis of Islamic Bank in Related to Forming Holding. Esensi: Jurnal Bisnis dan Manajemen, 10(2), pp. 205–214. doi:10.15408/ess.v10i2.18857.

Made Estiyanti, N. and Dian Rusmadewi, P. (2016). Analisa Nilai Valuasi Perusahaan Startup Berdasarkan Faktor Keuangan dan Non Keuangan (Studi Kasus Perusahaan Startup XYZ). 22(2), pp. 142–154.

Muhammad, T. and Rahim, S. (2015). Pengaruh Tingkat Likuiditas dan Profitabilitas Terhadap Harga Saham pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia (BEI). Jurnal Akuntansi Aktual, 3(2), pp. 117–126.

Natapura, C. (2009). Analisis Perilaku Investor Institusional dengan Pendekatan Analytical Hierarchy Process (AHP). Bisnis & Birokrasi, Jurnal Ilmu Administrasi dan Organisasi, 16(3), pp. 180–187.

Ross, S. (1977). The Determination of Financial Structure: The Incentive-Signalling Approach. Bell Journal of Economics, 8(1), pp. 23–40.

Sharpe, W.F., Gordom, A. and Bailey, J. V (1977). Investasi. Jakarta: Penhalindo.

Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics [Preprint].

Sutjipto, E., Setiawan, W. and Ghozali, I. (2020). Determination of Intrinsic Value: Dividend Discount Model and Discounted Cash Flow Methods in Indonesia Stock Exchange. International Journal of Management (IJM, 11(11), pp. 1842–1852. doi:10.34218/IJM.11.11.2020.175.

Zaenal, A. (2015). Analisis Saham PT Indosat Tbk Terkait Rencana Buy Back Pemerintah. Jurnal MIX, V(1), pp. 144–160.




DOI: http://dx.doi.org/10.30742/equilibrium.v19i1.2597

Refbacks

  • There are currently no refbacks.


Copyright (c) 2023 Equilibrium: Jurnal Ekonomi-Manajemen-Akuntansi

Indexed By:

      
      

  Creative Commons License

Equilibrium by http://journal.uwks.ac.id/index.php/equilibrium is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

 

 

 

 

 

 

Office: EQUILIBRIUM
Faculty of Economics and Business Universitas Wijaya Kusuma Surabaya
Dukuh Kupang XXV No. 54 Surabaya, Indonesia 60225 
Phone: +62315613231   
email: equilibrium@uwks.ac.id

p-ISSN 1693-1378 | e-ISSN 2598-9952