DBA Dissertation - MSM
Title:
Equity Share Valuation in the Indonesian Emerging Capital Market: The Case of LQ45 Companies Quoted at the JSX (ISBN: 978-90-70995-27-0)
Abstract:
This dissertation provides the results of a survey of investment practices and perceptions of investors (fund managers) currently active at the Jakarta Stock Exchange (JSX) in Indonesia. The study also proffers some initial interpretation and analysis of their perceptions of the most important metrics used in valuation and their observation on social, political, economic, regulatory, technological, environmental and legal (SPERTEL) factors that influence the fundamental factors (EM metric) and value of equity shares (EV) of LQ45 companies quoted at JSX. The findings of the study help to shed light on the adequacy of the information, which JSX provides investors to improve the quality of their hold, sell or buy decisions on their LQ45 portfolio. Fund managers’ consequent positive perception of the economy induced them to invest in equity shares of LQ45 companies for their expected future values. These investors firmly believed in the SPERTEL factors’ significant positive influence on the future values of their investment. The model of inter-relationships among SPERTEL, EM metric and value of equity shares of LQ45 companies, as a basic analysis to support the needs of investors to predict the future value of their investment.
Profile:
Totok Sugiharto graduated from Maastricht School of Management (MSM) and received his DBA from MSM, where he obtained his M.Phil in 2005.
Dr. Totok Sugiharto was born in Pekalongan, Indonesia. He studied Accounting in University of Jenderal Soedirman (Indonesia) and held a Master in Information System and Commerce from Bina Nusantara Graduated School of Management (Indonesia). He obtained a Certificate of Business Management from Prasetiya Mulya Institute of Management in 1999.
He is currently working as one of a senior executive management for one of the leading distribution company of fast moving consumer good industry in Indonesia.
During his fourteen years experience in his professional career, he has occupied various senior positions in many industries from Consumer Products; Oil and Gas; Consulting; Audit; and Information, Communication and Technology industry. He has been involved in many projects of restructuring, merger and acquisition; financial modeling; projection and share valuation in state owned corporation.