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MODEL-MODEL PENILAIAN SEKURITAS
Imron Rosyadi(1*)(1) Prodi Manajemen dan Bisnis FEB UMS
(*) Corresponding Author
Abstract
The valuation of securities is very important, it caused by the target of financial management that
was to maximize the wealth of stockholder by means of maximize value of the firm. In this article, the
writer showed the valuation models of securities such as, obligation, common stock, and preference stock.
The obligation value is present value from annuity (payment of fixed interest rate each period) and
added by present value of principal loan. Whereas in valuation of stock, at least there are four
valuation model of common stocks; they are: constant growth model, one step growth model, two steps
growth model, three steps growth model. The valuation of preference stock principally is equal with the
valuation of obligation, where division of dividend is consistent.
Keywords
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