Model Penilaian Sharpe Ratio Untuk Peningkatan Kinerja Reksa Dana
Abstract
This study seeks to determine the impact of Inflation, Operating Costs, and Mutual Fund Size on Mutual Fund Performance either concurrently or in part. In this research, The Sharpe approach was used to gauge the mutual fund dependant variable. The focus of this study is a conventional and sharia-compliant stock mutual fund that is registered with the Financial Services Authority. Purposive sampling is the technique employed.. The sampling technique used was 38 equity mutual funds with a research period of 2017 – 2021. Secondary data are the sort of data used in this study. This research uses the Multiple Linear Analysis method. The results showed that simultaneously Inflation (INF), Operating Cost (OC) and Mutual Fund Size (SZ) had a profound impact on Mutual Fund Performance. Inflation (INF) does not significantly affect the performance of mutual funds. Meanwhile, Operating Costs (OC) and Mutual Fund Size (SZ) partially have a big impact on mutual fund performance.
Keywords
Full Text:
PDFReferences
Agung, J. dw. mas sukma, & Wirasedana, i wayan pradnyantha. (2014). Analisis kinerja reksa dana saham di indonesia. E- Jurnal Universitas Udayana, 1, 250–265.
Anwar, M., Rehman, A. U., Zulfiqar, S., & Shah, A. (2018). International Journal of Emerging Markets Article information. International Journal of Emerging Markets, 13(5), 998–1025. https://doi.org/10.1108/IJoEM-07-2017-0263
Asriwahyuni, I. G. A. P. (2017). Pengaruh Ukuran dan Umur Pada Kinerja Reksa Dana Saham di Indonesia. E-Jurnal Akuntansi, 21(2), 1460–1487. https://doi.org/10.24843/EJA.2017.v21.i02.p22
Basuki, A. T., & Prawoto, N. (2015). Analisis Regresi dalam Penelitian Ekonomi dan Bisnis. Depok: PT Rajagrafindo Persada, 1–239.
Ekandini, A. I. (2008). Analisa Kinerja Market Timing dan Pemilihan Saham pada Reksa Dana Saham Indonesia : Aplikasi Model GARCH (Vol. 5). Institut Pertanian Bogor.
Elmas, A. M. (2018). Pengaruh Kinerja Manajer Investasi dan Kebijakan Alokasi Aset terhadap Kinerja Reksa Dana Saham di Indonesia. In E-Jurnal Manajemen Universitas Satya Negara Indonesia (Vol. 6, Issue 8).
Evalina, R. (2020). Sekolah tinggi ilmu ekonomi perbanas surabaya 2011. Jurnal AkuntansidanKeuangan.http://cpanel.petra.ac.id/ejournal/index.php/aku/article/viewArticle/17083
Ghozali, I. (2011). Aplikasi Analisis Multivariate dengan program IBM SPSS 19 (V). Badan Penerbit Universitas Diponegoro.
Hermawan, D., & Wiagustini, N. L. P. (2016). Pengaruh Inflasi, Suku Bunga, Ukuran Reksa Dana Saham, Dan Umur Reksa Dana Saham Terhadap Kinerja Reksa Dana Saham. E-Jurnal Manajemen Universitas Udayana, 5(5), 252342.
Indro, D. C., Jiang, C. X., Hu, M. Y., & Lee, W. Y. (1999). Mutual Fund Performance: Does Fund Size Matter? Financial Analysts Journal, 55(3), 74–87. https://doi.org/10.2469/faj.v55.n3.2274
Jensen, M. C. (1968). The Performance of Mutual Funds in the Period 1945-1964. The Journal of Finance, 23(2), 389. https://doi.org/10.2307/2325404
Karimani, G. A., & Arifin, Z. (2020). Pengaruh Suku Bunga, Inflasi, dan Nilai Tukar Rupiah terhadap Kinerja Reksa Dana Syariah Saham, Pendapatan Tetap, dan Campuran. Universitas Islam Indonesia, 1–19.
Agung, J. dw. mas sukma, & Wirasedana, i wayan pradnyantha. (2014). Analisis kinerja reksa dana saham di indonesia. E- Jurnal Universitas Udayana, 1, 250–265.
Anwar, M., Rehman, A. U., Zulfiqar, S., & Shah, A. (2018). International Journal of Emerging Markets Article information. International Journal of Emerging Markets, 13(5), 998–1025. https://doi.org/10.1108/IJoEM-07-2017-0263
Asriwahyuni, I. G. A. P. (2017). Pengaruh Ukuran dan Umur Pada Kinerja Reksa Dana Saham di Indonesia. E-Jurnal Akuntansi, 21(2), 1460–1487. https://doi.org/10.24843/EJA.2017.v21.i02.p22
Basuki, A. T., & Prawoto, N. (2015). Analisis Regresi dalam Penelitian Ekonomi dan Bisnis. Depok: PT Rajagrafindo Persada, 1–239.
Ekandini, A. I. (2008). Analisa Kinerja Market Timing dan Pemilihan Saham pada Reksa Dana Saham Indonesia : Aplikasi Model GARCH (Vol. 5). Institut Pertanian Bogor.
Elmas, A. M. (2018). Pengaruh Kinerja Manajer Investasi dan Kebijakan Alokasi Aset terhadap Kinerja Reksa Dana Saham di Indonesia. In E-Jurnal Manajemen Universitas Satya Negara Indonesia (Vol. 6, Issue 8).
Evalina, R. (2020). Sekolah tinggi ilmu ekonomi perbanas surabaya 2011. Jurnal AkuntansidanKeuangan.http://cpanel.petra.ac.id/ejournal/index.php/aku/article/viewArticle/17083
Ghozali, I. (2011). Aplikasi Analisis Multivariate dengan program IBM SPSS 19 (V). Badan Penerbit Universitas Diponegoro.
Hermawan, D., & Wiagustini, N. L. P. (2016). Pengaruh Inflasi, Suku Bunga, Ukuran Reksa Dana Saham, Dan Umur Reksa Dana Saham Terhadap Kinerja Reksa Dana Saham. E-Jurnal Manajemen Universitas Udayana, 5(5), 252342.
Indro, D. C., Jiang, C. X., Hu, M. Y., & Lee, W. Y. (1999). Mutual Fund Performance: Does Fund Size Matter? Financial Analysts Journal, 55(3), 74–87. https://doi.org/10.2469/faj.v55.n3.2274
Jensen, M. C. (1968). The Performance of Mutual Funds in the Period 1945-1964. The Journal of Finance, 23(2), 389. https://doi.org/10.2307/2325404
Karimani, G. A., & Arifin, Z. (2020). Pengaruh Suku Bunga, Inflasi, dan Nilai Tukar Rupiah terhadap Kinerja Reksa Dana Syariah Saham, Pendapatan Tetap, dan Campuran. Universitas Islam Indonesia, 1–19.
JURNAL Akuntansi & Keuangan Volume 14, Nomor 1, Maret 2023
Maulana, A. (2013). Pengaruh SBI, Jumlah Uang Beredar, Inflasi Terhadap Kinerja Reksa Dana Saham Di Indonesia Periode 2004 - 2012. Jurnal Ilmu Manajemen, 1(3), 971–984.
Mulyawan, A. (2008). Pengaruh Ukuran Dana Kelolaan, Umur Reksa Dana, Biaya Operasi Reksa Dana, Dan Masa Jabatan Manajemen Terhadap Kinerja Reksa Dana Saham Periode 2007. Universitas Padjajaran.
Nugraha, A. A. (2016). Pengaruh Ukuran Dana Kelolaan, Umur Reksa Dana, dan Biaya Operasi Reksa Dana Terhadap Kinerja Reksa Dana Saham (Periode Tahun 2011). Prosiding, 129–160.
Parakkasi, I. (2016). Inflasi dalam Perspektif Islam. Laa Maisyir, 3(1), 41–58.
Pasaribu, R. B. F., & Kowanda, D. (2014). Pengaruh Suku Bunga SBI, Tingkat Inflasi, IHSG, dan Bursa Asing terhadap Tingkat Pengembalian Reksa Dana Saham. Jurnal Akuntansi & Manajemen, 25 No 1(April 2014), 1–17.
Putra, G. S. A., & Yaniartha, P. D. (2014). Pengaruh Leverage, Inflasi, dan PDB pada Harga Saham Perusahaan Asuransi. E-Jurnal Akuntansi Universitas Udayana, 9(2), 449–464. https://ocs.unud.ac.id/index.php/Akuntansi/article/view/9163
Sanjaya, S., Yulia, Y., Elfiswandi, Melmusi, Z., & Suretno, F. (2020). Factors influencing equity fund performance: Evidence from Indonesia. Investment Management and Financial Innovations, 17(1), 156–164. https://doi.org/10.21511/imfi.17(1).2020.14
Saputri, R. N., & Ismanto, D. (2020). Pengaruh Inflasi, Suku Bunga, Ukuran Reksa Dana Dan Umur Reksa Dana Terhadap Kinerja Reksa Dana Tahun 2014-2018. Jurnal Sains Sosio Humaniora, 4(1), 39–46. https://doi.org/10.22437/jssh.v4i1.9766
See, Y. P., & Jusoh, R. (2012). Fund Characteristics and Fund Performance : International Journal of Economics and Management Sciences, 1(9), 31–43.
Ulfa, D. (2018). Analisis Pengaruh Indeks Harga Saham Gabungan dan Faktor Makro Ekonomi Terhadap Kinerja Reksadana Campuran di Indonesia. In Journal of Physical Therapy Science (Vol. 9, Issue 1).
DOI: http://dx.doi.org/10.36448/jak.v14i1.3041
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.