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All Journal IQTISHODUNA Jurnal Bisnis dan Manajemen Jurnal Administrasi Bisnis Jurnal Mahasiswa Perpajakan JAM : Jurnal Aplikasi Manajemen Wacana, Jurnal Sosial dan Humaniora PROFIT : Jurnal Administrasi Bisnis Transformasi: Jurnal Pengabdian Masyarakat Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal JPBM (Jurnal Pendidikan Bisnis dan Manajemen) UNEJ e-Proceeding Asia-Pacific Management and Business Application Jurnal Ekonomi dan Bisnis SELAPARANG: Jurnal Pengabdian Masyarakat Berkemajuan Bisma: Jurnal Bisnis dan Manajemen JOURNAL OF APPLIED BUSINESS ADMINISTRATION PINISI Discretion Review BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi juremi: jurnal riset ekonomi BISMA (Bisnis dan Manajemen) Journal of Applied Community Engagement (JACE) Asian Journal of Management, Entrepreneurship and Social Science
Nila Firdausi Nuzula
Department Of Business Administration, Universitas Brawijaya, Malang
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Medicine & Pharmacology Nursing Public Health Social Sciences Other

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Journal : Asia-Pacific Management and Business Application

 1 
Critical Analysis of Sharpe, Treynor and Jensen Methods in Analyzing Stock Portfolio Performance LQ-45 Stock Studies Qur'anitasari Qur'anitasari; Nila Firdausi Nuzula; Ari Darmawan
APMBA (Asia Pacific Management and Business Application) Vol 8, No 2 (2019)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2019.008.02.2

Abstract

The purpose of this study is to determine the stocks of the LQ-45 Index which form a portfolio based on a single index model, analyzed by Sharpe, Treynor, and Jensen methods, whether there are differences in the results of calculations and which is the most appropriate in measuring portfolio performance. The method used in this research is descriptive research with a quantitative approach and the data source used is secondary data from the Indonesia Stock Exchange. The population used is the LQ-45 Index shares for the period 2013-2018 and based on established criteria, a sample of 22 shares was obtained. Based on the methods of Sharpe, Treynor, and Jensen, the portfolio performance that is formed experiences a similar and fluctuating movement. Because the three methods produce almost the same value movement, the determination of slope (linear curve) requires accuracy, therefore re-testing is done by using Robustness Test. With the regression analysis it shows that the Sharpe method is most appropriate to be used in measuring portfolio performance in this study. Researchers suggest for further research, in the formation of portfolios can use other portfolio formation models. This research in the formation of LQ-45 stock portfolios using the single index model method, the portfolio formed is only one portfolio each year which causes less number of portfolios compared. In addition to the Sharpe, Treynor, and Jensen methods, researchers can then use other performance measurement methods for comparisons, such as M2 (Modigliani-Modigliani) and Information Ratio (RI). 
The Effect of Earnings Quality on Financial Performance in Indonesia : is the State-Owned Bank better than Private Bank? Rachma Bhakti Utami; Nila Firdausi Nuzula; Cacik Rut Damayanti
APMBA (Asia Pacific Management and Business Application) Vol 8, No 2 (2019)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (692.388 KB) | DOI: 10.21776/ub.apmba.2019.008.02.3

Abstract

The primary objective of this study is to analyze the effect of earnings quality on financial performance of banks in Indonesia by comparing the SOEs and private banks. This study uses discretionary accruals and earnings persistence indicators to measure earnings quality, as well as financial performance variables measured through return on assets, return on equity, rate return on loans and total asset turn over. Eight conventional banks compared in this study are 4 government banks and 4 private banks, with research data from 2006-2018. Data is processed using Partial Least Square Multigroup Moderation Technique. The results of this study indicate that earnings quality has a significant effect on financial performance of banks in Indonesia. While the results of bank type moderation show that the effect of earnings quality on financial performance of private banks is greater than that of state-owned banks. This study recommends the importance of applying earnings quality in banks, especially in state-owned banks. Furthermore, this study suggests that government companies should avoid earnings management in order to create good and high quality financial performance, especially in the banking sector in Indonesia.
The Effect of Earnings Quality on Financial Performance in Indonesia : is the State-Owned Bank better than Private Bank? Utami, Rachma Bhakti; Nuzula, Nila Firdausi; Damayanti, Cacik Rut
APMBA (Asia Pacific Management and Business Application) Vol. 8 No. 2 (2019)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2019.008.02.3

Abstract

The primary objective of this study is to analyze the effect of earnings quality on financial performance of banks in Indonesia by comparing the SOEs and private banks. This study uses discretionary accruals and earnings persistence indicators to measure earnings quality, as well as financial performance variables measured through return on assets, return on equity, rate return on loans and total asset turn over. Eight conventional banks compared in this study are 4 government banks and 4 private banks, with research data from 2006-2018. Data is processed using Partial Least Square Multigroup Moderation Technique. The results of this study indicate that earnings quality has a significant effect on financial performance of banks in Indonesia. While the results of bank type moderation show that the effect of earnings quality on financial performance of private banks is greater than that of state-owned banks. This study recommends the importance of applying earnings quality in banks, especially in state-owned banks. Furthermore, this study suggests that government companies should avoid earnings management in order to create good and high quality financial performance, especially in the banking sector in Indonesia.
Critical Analysis of Sharpe, Treynor and Jensen Methods in Analyzing Stock Portfolio Performance LQ-45 Stock Studies Qur'anitasari, Qur'anitasari; Nuzula, Nila Firdausi; Darmawan, Ari
APMBA (Asia Pacific Management and Business Application) Vol. 8 No. 2 (2019)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2019.008.02.2

Abstract

The purpose of this study is to determine the stocks of the LQ-45 Index which form a portfolio based on a single index model, analyzed by Sharpe, Treynor, and Jensen methods, whether there are differences in the results of calculations and which is the most appropriate in measuring portfolio performance. The method used in this research is descriptive research with a quantitative approach and the data source used is secondary data from the Indonesia Stock Exchange. The population used is the LQ-45 Index shares for the period 2013-2018 and based on established criteria, a sample of 22 shares was obtained. Based on the methods of Sharpe, Treynor, and Jensen, the portfolio performance that is formed experiences a similar and fluctuating movement. Because the three methods produce almost the same value movement, the determination of slope (linear curve) requires accuracy, therefore re-testing is done by using Robustness Test. With the regression analysis it shows that the Sharpe method is most appropriate to be used in measuring portfolio performance in this study. Researchers suggest for further research, in the formation of portfolios can use other portfolio formation models. This research in the formation of LQ-45 stock portfolios using the single index model method, the portfolio formed is only one portfolio each year which causes less number of portfolios compared. In addition to the Sharpe, Treynor, and Jensen methods, researchers can then use other performance measurement methods for comparisons, such as M2 (Modigliani-Modigliani) and Information Ratio (RI). 
Co-Authors . DARMINTO . Suhadak . Topowijono Aan Suryana Agung Nugroho Luthfi Imam Fahrudi Agung Santoso Putra Alfiyah Agussalim Amalia Agista Maharani Amanda Ade Winona Amelinda Islamey Andi Wijayanto Andi Wijayanto Ardhito Ario Hutomo Ari Darmawan Ari Darmawan Arief Indra Wahyu Setyawan Arinda Sasmita Rahma Arja, Rayssa Nathasa Bayu Wichaksono Pangestu Budhy Ayu Nurputri Cacik Rut Damayanti Cacik Rut Damayanti Candra Puspita Ningtyas Damayanti, Cacik Rut Dani Amrullah Dea Kusuma Riyadi Dewi Mandiri, Satimah Sarisitamah Dewi, Winda Rufiana Didik Hartono Dina Aprilia Utami Dyah Putri Fuji Lestari Dаrwаti Dаrwаti Elsafan Kukuh Aditya Esti Junining Fadilla Eka Ningsih Fadillah Amin Fahrudi, Agung Nugroho Luthfi Imam Ferina Nurlaily Firdani Antika Sari Fitria Intan Ayuningtias Fuaida, Roudhotul Gagas Sеptian Nurfikri Gilang Salman Al Farisi Gilda Maulina Harril Brimantyo Ika Meriyanti Jabir Putri Ika Sisbintari Ikhsandinoto, Achmad Basith Illinova, Julian Arsyad Islami Putri Apriani Isti Purwaningtyas Kevin Adiyasa Pahlevi Kurniawan Winata Laili Fitria Nurfadillah Laras Sati Giri Noerani Linggahua, Akhyian Hamimah M. Saifi Mai Sovi Triswidjanti Maulina, Gilda Mawardi, Muhammad Khalid Meutea Saraswati Mifthachul Cholifah Miranti Sedyaningrum Moch. Dzulkirom Mochammad DJUDI MUKZAM, Mochammad DJUDI Mohamad Faathir Al Hakim Muchammad Rizki Agung Putra Muhamad Ibrahim Muhamad Wahyu Firmansyah Muhammad Apri Wirawan Sinaga Muhammad Nur Hidayah Muhammad Saifi Muhammad Yusril Mustafa, Muthyah Ainunsary Nada Faradila Naufal Yafi’ Najy Nelly Sulistyani Putri Neng Windy Naedya Cahyanti Ni Wayan Kartika Yowana Nia, Nia Mardiana Nugraha Farelio Siregar Nur Imamah Nur Imamah Nuraeni Nuraeni, Desika Putri Nuria Setiarini Nurlita Sukma Alfandia Nurul Lianawati N’imatul Lailiyah Oktana Indriyatna Jatnika One Septy Wulandari Onni Meirezaldi Pregnandia Ladina Prima Rahma Sari Prisya Esterlina Purba, Bernadetha Eveline Gabriella Qur'anitasari Qur'anitasari Qur'anitasari, Qur'anitasari Rachma Bhakti Utami Raden Rustam Hidayat RANI RACHMAWATI Reika Happy Sugiastuti Reza Hendrawan rizky Adhitya Rizqi Laila Rohmah Romadhani, Ahmad Rony Yuda Prasetyo Rosyida Maulina Rully Herlinasari Samira Hanim Saparila Worokinasih Saputra, Arjun Sarah Torgara Aprillia Manurung Satria Lukman Pinarbaga Sekar Arum Kinanti Septa Lukman Andes Shabrina Nur Adliah Sirivanh, Thongvanh Siti Ragil Siti Ragil Handayani Siti Ragil Handayani Sri Mangesti Rahayu Sri Mangesti Rahayu Sri Sulasmiyati Stefani Fabiola Christine Suhadak Suhadak Suhadak Suhadak Sulasmiati, Sri Suroto Suroto Syahla Dwinovita Putri Taufik Hidayat Theresia Vania Hamolin Tita Irbah Rofifah Topo Wijono Topowijono Topowijono Tria Syafitri Valeria Pramudita Suwandani Vieni Angelita Buana Wahyu Aprilia Sari Yuliana Prasiska Yuni Anisa Lestari