Analisis Perbandingan Keakuratan CAPM Dan APT Dalam Upaya Pengambilan Keputusan Investasi Saham Sektor Perbankan


Arif Abdillah(1*), Aditya Kristamtomo Putra(2),


(1) Universitas Singaperbangsa Karawang
(2) Universitas Singaperbangsa Karawang
(*) Corresponding Author

Abstract


The Capital Asset Pricing Model and the Arbitrage Pricing Theory are a balance model that uses risk measurement variables to see risk correlations and returns. This research is descriptive quantitative. The purpose of this research is to find out how much the value of stock returns in the banking sector is calculated by the Capital Asset Pricing Model and Arbitrage Pricing Theory, looking for a more accurate model and how big is the difference in accuracy of the significant accuracy of the Capital Asset Pricing Model and Arbitrage Pricing Theory in making investment decisions in the banking sector. The population in this study is a banking company registered at Indonesia Stock Exchange during 2015-2018. The sample in this study amounted to 36 banking companies listed on the Indonesia Stock Exchange during 2015-2018. The sampling method is a non-probability sampling method that is purposive sampling technique. The results of this study indicate that the Capital Asset Pricing Model is better than the Arbitrage Pricing Theory and there is no difference in accuracy between the Capital Asset Pricing Model and the Arbitrage Pricing Theory in an investment decision making effort at banking sector.

Keywords


Capital Asset Pricing Model; Arbitrage Pricing Theory; Banking Sector.

Full Text:

PDF

References


Aqli, M. I. (2015). Analisis Perbandingan Keakuratan Metode Capital Pricing Model (CAPM) dan Arbitrage Pricing Theory (APT). Skripsi. Universitas Islam Negeri Walisongo Semarang.

Ditha Indah, F., R. Deni Muhammad, D., & Nor, N. (2019). Analisis Capital Asset Pricing Model ( Capm ) Dalam Pengambilan Keputusan. Jurnal Ekonomi Dan Bisnis, 20(2), 11–18. https://doi.org/http://dx.doi.org/10.30659/ekobis.20.2.11-18

Fahmi, I. (2012). Pengantar Pasar Modal. Bandung: Alfabeta.

Fahmi, I. (2015). Pengantar Teori Portofolio dan Analisis Investasi. Bandung: Alfabeta.

Gusni, & Riantani, S. (2017). Penggunaan Arbitrage Pricing Theory Untuk Menganalisis Return Saham Syariah. Jurnal Manajemen, 9(1), 68–84. https://doi.org/10.31937/manajemen.v9i1.598

Ibrahin, M. I., Titaley, J., & Manurung, T. (2017). Analisis Keakuratan Capital Asset Pricing Model (CAPM) dan Arbitrage Pricing Theory (APT) dalam memprediksi Expetaced Saham pada LQ45. D’Cartasian, 6(1), 30–44.

Ihsan, D. N., & Kartika, S. P. (2015). Potensi Kebangkrutan Pada Sektor Perbankan Syariah Untuk Menghadapi Perubahan Lingkungan Bisnis. Etikonomi, 14(2). https://doi.org/10.15408/etk.v14i2.2268

Kustyaningsih, A. (2019). Analisis Komperatif Tingkat Kesehatan Bank Syariah dan Bank Konvesional Menggunakan Metode Risk Based Bank Rating (RBBR). Skripsi. IAIN Tulungagung.

Leo, A. (2012). Dasar-Dasar Kebijakan Publik. Bandung: Alfabeta.

Peraturan Pemerintah Republik Indonesia No. 68 Tahun 1996.

Prasetyo, D. C., & Adib, N. (2016). Perbandingan Keakuratan CAPM dan APT dalam Memprediksi Return Saham di Jakarta Islamic Index. Jurnal Akuntasi Fakultas Ekonomi Dan Bisnis, Universitas Brawijaya.

Putri, R. L. (2014). Implementasi Capital Asset Pricing Model (CAPM) dalam Analisis Portofolio Sebagai Dasar Keputusan Investasi Saham di Bursa Efek Indoneia. Jurnal Kompilek, 6(0342), 1.

Stanislaus, U. (2010). Pedoman Analisis Data Dengan SPSS. Ghalia Indonesia.

Sugiyono. (2014). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta.

Suryaputra, F. A. ., Bandi, B., & Setiawan, D. (2017). Perkembangan Penelitian Kinerja Perbankan di Indonesia. In Jurnal Akuntansi dan Bisnis. 7(2),88.

https://doi.org/10.20961/jab.v17i2.240

Tandelilin, E. (2010). Portofolio dan Investasi: Teori dan Aplikasi (Pertama). Yogyakarta: Kanisius.

Undang-Undang No.10 Tahun 1998.

Idx.co.id. Profil Perusahaan Tercatat. Diakses pada 20 april 2020, dari https://www.idx.co.id/perusahaan-tercatat/profil-perusahaan-tercatat/

Ojk.go.id. Stastistik Perbankan Indonesia. Diakses pada 10 April 2020, dari https://www.ojk.go.id/id/kanal/perbankan/data-dan-statistik/statistik-perbankan-indonesia/default.aspx




DOI: https://doi.org/10.31289/jab.v7i1.4336

Article Metrics

Abstract view : 0 times
PDF - 0 times

Refbacks

  • There are currently no refbacks.


Copyright (c) 2021 JURNAL AKUNTANSI DAN BISNIS : Jurnal Program Studi Akuntansi

JURNAL AKUNTANSI DAN BISNIS: Jurnal Program Studi Akuntansi


Accounting Study Program, Faculty of Economics and Bussiness, Universitas Medan Area
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International Public License