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Abstrak :
The objective of this study is to examine a company?s value based on a comprehensive earning model which is constructed before valuation method is applied. There is an urgent need to construct such a comprehensive model to grab its true value. The earning model that is constructed must accommodate up to date information and recent development of the company being studied. The quest to build the model take us to the study of company?s environment, internal & external (cocoa industry), which will be useful in the process of obtaining pieces by pieces information that is going to be included in the model. An cocoa industry and company analysis basically was intended to identify some important characteristics of the industry as well as to identify some company?s comparative advantage position in the industry as well to find out reasons and justifications for assumptions that are set in the earning model. Subsequent to industry of cocoa processing and company analysis is done, the next is to establish a framework for company?s financial analysis which will be followed by the prospective analysis. We discuss not only the historical financial figure analysis but also financial prospective framework analysis. Prospective analysis means that an earning forecasting model will serve as the forecasting.

Abstrak :
Laporan magang ini bertujuan untuk mengkaji proses valuasi perusahaan yang dilakukan oleh KAP HST dalam proses akuisisi perusahaan tersebut. Proyeksi laporan keuangan dilakukan dengan melakukan estimasi pada tiap akun berdasarkan asumsi yang telah dibuat untuk tiap akunnya. Proses valuasi perusahaan dapat dilakukan dengan dua pendekatan, yaitu Discounted Cash Flow Valuation dan Relative Valuation. Pendekatan Discounted Cash Flow Valuation menghitung nilai perusahaan berdasarkan nilai saat ini dari arus kas aset tersebut di masa mendatang, sedangkat pendekatan Relative Valuation mendapatkan nilai perusahaan dari perbandingan antar perusahaan tersebut dengan perusahaan lain yang sebanding dalam variabel umum seperti pendapatan, arus kas, nilai buku, atau penjualan. ......The focus of this internship report is to examine the firm valuation process undertaken by KAP HST in its acquisition process. The projected financial statements are performed by estimating each account based on the assumptions that have been made for each account. Firm valuation process can be done with two approaches, namely Discounted Cash Flow Valuation and Relative Valuation. The Discounted Cash Flow Valuation approach calculates the value of the firm based on the present value of firm rsquo;s future cash flow, as the Relative Valuation approach derives its firm value from the comparison between the firm and other firms comparable in common variables such as income, cash flow, book value, or sales.

Abstrak :
Penelitian ini bertujuan untuk melihat pengaruh penerapan environmental management practices atau praktik manajemen lingkungan terhadap profitabilitas dan valuasi perusahaan sektor pertambangan dan pertanian di Indonesia. Data penelitian diperoleh dari perusahaan yang masuk ke dalam sektor pertambangan dan pertanian berdasar sistem klasifikasi industri JASICA yang sudah terdaftar di Bursa efek Indonesia dalam kurun waktu 2011-2020. Jenis data yang digunakan adalah data panel yang diolah menggunakan model panel random effect . Hasil penelitian menunjukkan bahwa praktik manajemen lingkungan memiliki pengaruh positif terhadap profitabilitas perusahaan, akan tetapi memiliki pengaruh negatif pada valuasi perusahaan. Hasil yang saling bertolak belakang ini dapat menjadi indikasi adanya information asymmetry antar manfaat performa lingkungan perusahaan dan investor. Karena itu, diperlukan tolak ukur objektif dan sistem pelaporan performa lingkungan terintegrasi agar jarak tersebut dapat tertutup. ......This study aims to examine the effect of environmental management practices has on the profitability and market valuation of mining and agriculture sector companies in Indonesia. This study uses sample from companies that are included in the mining and agriculture sector based on the JASICA industrial classification system listed on the Indonesia Stock Exchange in 2011-2020. The type of data used is panel data which is processed using a random effect panel model. The findings in this study shows that environmental management practices have a positive effect on company’s profitability, but a negative effect on its valuation. These contradictory results might be an indication of the existence of information asymmetry between the benefits of environmental performance and investors. Therefore, objective environmental performance measures and an integrated reporting system are needed so that the gap can be closed.