No abstract

Banking as an intermediary institution has an essential role in the world of economy. Apart from providing financing to the real sector, banks currently still dominate the Indonesian financial system with an asset share of 77.25%. Based on the existing conditions, Indonesia's banking market is still dominated by several banks, especially in the BUKU 4 bank group. This is to indicate a bank of Indonesia is generally still facing relatively low competition. In addition, the large concentration makes it necessary for banks to divert their main activities by diversifying into non-traditional activities in carrying out their operations. This study aims to analyze how the market competition in Indonesia during the period 2014-2019 and examine the effect of competition and diversification income on stable banks. The panzer rosse model is used to analyze the market structure; for diversification, this research uses calculations with the Herfindahl Hirshman Index while stability uses two risk measures, namely NPL and Z Score, as a proxy for stability. The results show that, in general, the banking industry is under monopolistic competition. Competition has a significant effect on stability banks as measured through NPL risk, and this research supports the competition-fragility paradigm. A meanwhile, diversification income variables have not to effect on stability.DOI: 10.26905/jkdp.v25i3.5887

<p><span>Penilaian saham merupakan suatu hal penting yang perlu dilakukan bagi investor dalam melakukan kegiatan investasinya. Hal ini dilakukan dengan tujuan untuk meminimalisir risiko dan memaksimalkan keuntungan yang merupakan syarat dan karakteristik saham <em>hight risk</em> – <em>hight return</em>. Investor dapat melakukan penilaian saham secara fundamental yaitu dengan memperhatikan kondisi kinerja keuangan sebagai dasar untuk pengambilan keputusan. Penelitian ini dilakukan untuk mengetahui harga wajar suatu saham pada perusahaan subsektor perbankan pada periode 2021. Penilaian saham dilakukan berdasarkan dua pendekatan yaitu <em>Dividen Discount Model</em> dan <em>Price Earning Ratio</em>, dari 47 perusahaan subsekektor yang terdaftar sebanyak 12 perusahaan memenuhi kriteria dan dipilih sebagai sampel. Hasil penelitian menunjukkan bahwa dari 12 perusahaan terpilih, terdapat 10 perusahaan yang berada dalam kondisi undervalued dan 2 perusahaan yang berada dalam kondisi <em>overvalued</em>. Dalam kondis <em>undervalued</em> invetor dapat mengambil keputusan dengan membeli saham tersebut, sedangkan pada perusahaan yang berada pada <em>overvalued</em> invetor dapat menjual saham.</span></p><p><span><em>Stock valuation is an important thing that needs to be done for investors in carrying out their investment activities.</em><em>  This is with the aim of minimizing risk and maximizing profits which are the terms and characteristics of hight risk – hight return.  Investors can make stock valuation fundamentally by taking into account the condition of financial performance as a basis for decision making. This research was conducted to determine the fair price of shares in banking sub-sector companies in the 2021 period. Stock valuation was carried out based on two approaches, namely the dividend discounted model and the price earning ratio, of the 47 registered sub-sector companies, 12 companies met the criteria and were selected as samples. The results showed that of the 12 companies selected, there were 10 companies that were undervalued and 2 companies that were overvalued. In undervalued conditions, investors can make decisions by buying these shares, whereas in overvalued companies, investors can sell their shares.</em></span></p><p><span><br /></span></p>