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All Journal Jurnal Ilmiah Akuntansi dan Humanika Jurnal Akuntansi dan Keuangan Assyarikah: Journal Of Islamic Economic Business
Atika Lusi Tania
Universitas Islam Negeri Jurai Siwo Lampung
Humanities Economics, Econometrics & Finance Social Sciences

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Optimasi Portofolio Saham LQ45 (2021-2025): Pendekatan Single Index Model dan Implikasi Alokasi Aset Nabila maharani; Esty Apridasari; Atika Lusi Tania; Witantri Dwi Swandini
AKUA: Jurnal Akuntansi dan Keuangan Vol. 5 No. 2 (2026): April 2026
Publisher : Yayasan Pendidikan Penelitian Pengabdian Algero

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54259/akua.v5i2.7180

Abstract

The increase in domestic investor participation in the Indonesian capital market, reaching 20.3 million SID by 2025, is not always accompanied by stable stock market performance. This situation presents challenges for investors in determining an optimal stock portfolio with a measurable level of risk. This study aims to construct an optimal LQ45 stock portfolio based on return and risk levels. Furthermore, this study aims to determine the proportion of fund allocation and investment portfolio execution for investors. The research method used is descriptive quantitative, utilizing secondary data in the form of LQ45 stock closing prices, the Jakarta Composite Index (JCI), and Bank Indonesia interest rates for the period August 2021 to July 2025. The sample selection was conducted using purposive sampling technique to obtain 25 stocks that were consistently listed in the LQ45 index during the study period. The results showed that there were 10 stocks included in the optimal portfolio based on the Single Index Model. These stocks are INDF, MEDC, BBNI, PGAS, BMRI, BBCA, ITMG, ICBP, ANTM, and UNTR with different fund allocation proportions. The optimal portfolio produced an expected rate of return of 1.42% with a portfolio risk of 0.19%. This study shows that the Single Index Model is effective in forming an optimal LQ45 stock portfolio. This model can be used as a basis for investment decision making by considering the balance between risk and return.
Pengaruh Kinerja Lingkungan dan Rasio Belanja Pengendalian Lingkungan Terhadap Kebijakan Dividen Pada LQ45 Periode 2021-2024 Arini Nur Arista; Atika Lusi Tania; Era Yudistira; Lella Anita
Jurnal Ilmiah Akuntansi dan Humanika Vol. 16 No. 1 (2026)
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/jiah.v16i1.112830

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh dari kinerja lingkungan dan Rasio Belanja Pengendalian Lingkungan (RBPL) terhadap kebijakan dividen pada perusahaan dalam indeks LQ45 periode 2021-2024. Penelitian ini menggunakan metode kuantitatif dengan data sekunder yang diperoleh dari annual report dan sustainability report perusahaan. Teknik pemilihan sampel menggunakan purposive sampling, sehingga diperoleh 17 perusahaan dengan total 68 observasi. Analisis data dilakukan menggunakan regresi linier berganda dengan bantuan program SPSS. Hasil penelitian ini menunjukkan bahwa secara parsial, kinerja lingkungan dan RBPL tidak berpengaruh signifikan terhadap kebijakan dividen. Selain itu, secara simultan kinerja lingkungan dan RBPL secara tidak berpengaruh signifikan terhadap kebijakan dividen. Hasil penelitian ini menunjukkan bahwa aspek lingkungan belum tentu menjadi faktor utama yang dipertimbangkan perusahaan LQ45 dalam menentukan kebijakan pembagian dividen.
Pembentukan Portofolio Saham Optimal Berbasis Model Sharpe Atika Lusi Tania; Era Yudistira; Einde Evana; Trijoko Prasetyo; Winda Nur Afrita; Fajar Baradewa; Husna Nur Pujianto
Assyarikah: Journal of Islamic Economic Business Vol. 6 No. 2 (2025): Assyarikah: Journal Of Islamic Economic Business
Publisher : Al-Amien Prenduan for Islamic Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28944/assyarikah.v6i2.2529

Abstract

The purpose of this study is to analyse how to optimise Islamic stock portfolios in Indonesia using the Sharpe model. Most studies only focus on comparing Sharpe ratios between portfolios without exploring in depth the geometric structure of the relationship between return and risk. Many studies assume stable capital market conditions. This model considers the dynamics of return and risk movements as well as the Sharpe angle and the use of Excel Solver. Most studies discuss conventional stocks, while this study examines sharia stocks. Based on calculations using Excel Solver, two assets with the largest angles, meaning the best performance, were obtained. The best stock combination using the Sharpe method was obtained with a code of 70% and 30%. This study contributes to the development of portfolio management literature by offering a geometric perspective in stock performance analysis based on the Sharpe model, particularly for sharia stocks in Indonesia.
Co-Authors Arini Nur Arista Einde Evana Era Yudistira Esty Apridasari Fajar Baradewa Husna Nur Pujianto Lella Anita Nabila maharani Trijoko Prasetyo Winda Nur Afrita Witantri Dwi Swandini