Article Per Year (5 Year)
p-Index From 2020 - 2025
1.944
P-Index
This Author published in this journals
All Journal Jurnal Mirai Management Dinasti International Journal of Education Management and Social Science Jurnal Ilmu Sosial, Manajemen, Akuntansi dan Bisnis International Journal of Business, Management and Economics Jurnal Nasional Manajemen Pemasaran dan SDM INTERNATIONAL JOURNAL OF CULTURAL AND SOCIAL SCIENCE JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi) Jurnal Economica: Media Komunikasi ISEI Riau Journal of Public Representative and Society Provision Eduvest - Journal of Universal Studies Inaba Journal Of Psychology
Ismail, Gurawan Dayona
Unknown Affiliation
Aerospace Engineering Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Neuroscience Social Sciences

Published : 13 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search
Journal : Journal of Public Representative and Society Provision

 1 
Comparative Analysis of Active and Passive Portfolios with the Single Index Model and Capital Asset Pricing Model in Indonesia: Policy Directions in the Capital Market Sudarmadji, Harrys; Sudaryo, Yoyo; Sofiati, Nunung Ayu; Ismail, Gurawan Dayona; Sumawidjaja, Riyandi Nur
Journal of Public Representative and Society Provision Vol. 5 No. 3 (2025): Journal of Public Representative and Society Provision
Publisher : Pusat Studi Pembangunan dan Pemberdayaan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55885/jprsp.v5i3.727

Abstract

This research conducts a comparative analysis between active and passive investment portfolios using two fundamental models in finance: the Single Index Model (SIM) and the Capital Asset Pricing Model (CAPM). The study focuses on stocks traded on the Indonesia Stock Exchange (IDX) that were not consistently included in the prestigious LQ45 Index during the period from January 2015 to June 2025. Using a rigorous quantitative method, the research compares portfolio performance, return, and risk under different strategies. The results conclusively indicate that portfolios designed with the Single Index Model consistently outperform those based on CAPM, and that active strategies deliver superior performance compared to passive ones. Beyond financial performance, the findings also carry significant policy implications. The consistent superiority of SIM suggests that regulators and market authorities should integrate simplified yet effective portfolio models into investor education initiatives. Similarly, the outperformance of active strategies highlights the importance of strengthening corporate disclosure standards and ensuring fair access to timely information, so that both institutional and retail investors can benefit equitably. By linking quantitative evidence with governance concerns, this study provides valuable insights for investors while offering policy directions to enhance transparency, inclusivity, and investor protection in Indonesia’s capital market.
Co-Authors Alfarisi, Ade Salman Ali , Mochammad Mukti Andini, Fitriyani Anggraeni, Yulia Dyah Arie Hendra Saputro Bilady, Royhan Dadan Abdul Aziz Mubarok Dadan Abdul Aziz Mubarok Duana, Refiza Gita Erna Herlinawati Fanji Wijaya Gustiawan, Rudi Hendriawanto, Hendriawanto Hisashi, Rendy Mahardhika Luntungan, Irving Ignatius Paul Mukti Ali, Mochammad Mustika, Sheli Muttaqin, Ridlwan Nazarudin Nenobais, Manoakh Novianty, Shevia Nunung Ayu Sofiati (Efi) Putri, Rizka Ardlia Recky, Recky Reviana, Raisa Riyandi Nur Sumawidjaja Siddiq, Andhika Mochamad Siddiq, Andhika Mochammad Sofiati, Nunung Ayu Sofiaty, Nunung Ayu Sudarmadji, Harrys Sugandi, Akhmad Sumawidjaya, Riyandi Nur Yoyo Sudaryo