PENGARUH PRICE TO BOOK VALUE TERHADAP KEPUTUSAN INVESTASI SAHAM SUB SEKTOR FARMASI

Abstract

Based on previous research, it was found that Price To Book Value (PBV) is a variable that has a significant and positive effect on stock prices, so that it can be used as a guide in determining stock conditions, and investment decisions on stocks of the pharmaceutical sub-sector in 2022-2023. The sample in this study was determined by purposive sampling technique and obtained TSPC, DVLA, INAF, and SIDO stocks which will be processed for data for 5 years (2017-2021) on a quarterly basis (per 3 months). The data is processed by using the trend moment method. The results obtained are that TSPC shares are undervalued, so the recommended investment decision for investors is to hold selling shares, and for potential investors to buy shares. DVLA, INAF, and SIDO shares are in overvalued condition, so the recommended investment decision for investors is to sell shares, and for potential investors is to hold to buy these shares, until the stock price is below the value intrinsically.