manajemen risiko di pasar modal
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management risk manajemen risiko di pasar modal Tugas Presentasi STIE GICI Business School Jakarta Class Management 2011TRANSCRIPT
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MANAJEMEN R IS IKO D I PASAR MODAL
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NabilaStefani Dyah
RezaShari ZamiaIrma Septiani
Husein Jamaludin
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Pasar Modal
Menurut Undang-Undang
Republik Indonesia Nomor 18
tahun 1995 tentang Pasar
Modal, Pasar Modal adalah
kegiatan yang bersangkutan
dengan Penawaran Umum,
Perdagangan Efek, Perusahaan
Publik yang berkaitan dengan
Efek, yang diterbitkannya, serta
lembaga dan profesi yang
berkaitan dengan Efek.
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Fungsi Pasar Modal
Fungsi ekonomi
Fungsi keuanga
n
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Manfaat Pasar ModalMenyediakan sumber
pembiayaan ( Jangka Panjang )Memberikan Wahana Investasi
Menyediakan Leading IndicatorPenyebaran Kepemilikan
PerusahaanPenyebaran
Kepemilikan,keterbukaan dan
profesionalisme,menciptakan iklim berusaha yang sehat
serta mendorong pemanfaatan manajemen
profesional
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Menteri keuanga
n RI
PT BEI
PT KLIRING PENJAMIN
EFEK INDONESIA
PT KUSTODIAN
SENTRAL EFEK
INDONESIA
BAPEPAM -LK
St ruk tu r Pasa r Moda l
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Perusahaan efek
Penjamin
emisiPerantar
a praganga
n efekManajer investa
si
Lembaga penunjan
gBiro adm efekBank
kustodian
Wali amanat
Penasihat
investasi
Profesi penunjang pasar modalAkuntan publik
Konsultan hukum
Penilai
notaris
S T R U KT U R PA S A R M O DA L
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investor
lokal
asing
emiten
Perusahaan publikreksad
ana
S t r u k t u r P a s a r M o d a l
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J e n i s j e n i s S a h a m d i P a s a r M o d a l
Saham Prefere
n
Saham Biasa
Saham Teasuri
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Macam m a c a m s a h a m p r e f e r e n
Convertible
preferred stock
Floaing / adjustable-rate
preferred stock
Callable preferred stock
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H a k p e m e g a n g s a h a m
Hak kontrol
Hak prempt
ifHak meneri
ma pemba
gian keuntungan
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R i s i ko d a n ke t i d a k p a s t i a n
Keuntungan
D i v i de n
C a p i ta l
G a i n
Kerugian :
capital loss,
perusaha
an bangkrut
, saham di
delist, dan
saham di suspen
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R i s i ko i n v e s t a s i p a d a u m u m n y a
Risiko Finansial
Risiko pasar
Risiko psikologis
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R i s i ko m e n u r u t R L . H a g i n ( 1 9 7 9 )
Interest rate risk
Investment risk
Business risk
Purchasing power risk
Liquidity risk
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Te k n i k a n a l i s i s p e n i l a i a n i n v e s t a s i
Analisis
funamental
Analisis
Teknikal
Analisis
Ekonomi
Analisis Rasio
Keuangan
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A n a l i s i s f u n d a m e n t a lAnalisis ini sering disebut dengan
Company analysis (Robert
Ang, 1977)
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3 l a n g k a h a l a m a n a l i s i s f u n a m e n t a l
Menghitun
g Kondisi
Ekonomi
Menghitung Kondisi Industri
Menghitung Kondisi Perusahaan
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Anal is is teknikal
Ana l i
s i s
t ekn i
ka l
k l as i
k
Ana l is i s t ekn ika l Modern
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A n a l i s i s t e k n i ka l k l a s i k
Reversal pattern
Continuation pattern
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Po larevers
a l pa t te rn
Head & shoulder top dan head & shoulder bottom
Triple top dan triple bottom
Rounding bottom
Falling wedge and rising wedge
Double top dan double bottom
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Po l a c o n t i n u a t i o n p a t t e r n
Flag and
penantsTriangle
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Ana l i s i s tekn ika l modern
Momentum
indicator
Trend followi
ng indicat
or
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G e r a k a n T r e n d
m e n u r u t j . s u p r a p t o
Gerakan tren jangka panjangGerakan tren variasi siklis
Gerakan tren variasi musiman
Gerakan tren variasi yang tidak
teratur
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Market action discount everything
Price moves in trends
History repeat it self
Mengapa analisis teknikal digunakan
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Siegel (1991), menyimpulkan
adanya hubungan yang
Kuat antara harga saham dan kinerja
ekonomi makro, dan menemukan
bahwa perubahan pada
harga saham selalu
terjadi sebelum terjadinya perubahan ekonomi
Ana l i s i s ekonomi
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Neraca peragangan dan pembaya
ran
Investasi
saham
Anggaran Defisi
t
Kurs rupia
hTingk
at bung
a
InflasiTingkat pengangguran
Pdb
Pe n g a r u h e ko n o m i m a k ro
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Rasio likuiit
asRasio solvabilitas
Rasio aktivit
as
Rasio rentabilitas
Rasio pasar
A n a l i s i s r a s i o ke u a n g a n
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Ras io l i ku i i tas
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Ra s i o s o l v a b i l i t a s
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Ras io ak t i v i t as
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Ras io ren tab i l i t as
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Ra s i o p a s a r
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M a n a j e m e n r i s i k o d i p a s a r m o d a l
P r e s e n t b y
N a b i l aS t e f a n i D y a h R e z a
S h a r i Z a m i aI r m a S e p t i a n i
H u s e i n J a m a l u d i n
K e l o m p o k 5
° J a n u a r i 2 0 1 4