Escalate : Economics and Business Journal
Vol. 4 No. 3 (2026): Escalate : Economics and Business Journal

Analysis of the Influence of Past Performance, Fund Size, and Fund Cash Flow on the Performance of Equity Mutual Funds in the Indonesian Capital Market for the 2019-2022 Period

Amelia Intan Prasasti (Pamulang University)
Dina Novita (Pamulang University)



Article Info

Publish Date
23 Sep 2026

Abstract

The performance of equity mutual funds is an important consideration for investors, especially in the period 2019 to 2022, which includes the COVID-19 pandemic and economic recovery. This study aims to analyze the influence of Past Performance, Fund Size, and Fund Cash Flow on the performance of equity mutual funds in the Indonesian capital market. The study uses a quantitative descriptive method. The study population is equity mutual funds registered and actively operating under the supervision of the Financial Services Authority (OJK) from 2019 to 2022. Through purposive sampling, 30 equity mutual funds with 120 observations were obtained. Data were obtained through documentation studies and secondary data from Bareksa, Bibit, and the Indonesia Stock Exchange. Data analysis was performed using SPSS through the classical assumption test, multiple linear regression, coefficient of determination, t-test, and F-test. The results show that Past Performance has a positive and significant effect on equity mutual fund performance, while Fund Size and Fund Cash Flow do not have a significant effect partially. Simultaneously, all three variables have a significant effect with an R² value of 17.5%. In conclusion, Past Performance is the main factor explaining the performance of equity mutual funds during the study period

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Journal Info

Abbrev

escalate

Publisher

Subject

Economics, Econometrics & Finance

Description

Escalate invites both empirical and theoretical articles that explore micro and macro phenomena. The journals publication scope encompasses a wide array of domains, including macro and micro economics, business strategy and policy, entrepreneurship, finance and accounting studies, human resource ...