ORIGINAL RESEARCH ARTICLE | Feb. 6, 2024
The Role of an Active Portfolio in the Exchange Traded Funds Era: Understanding Outperformance and Underperformance with the Jensen's Alpha Model
Nova Maharani Sanjaya, Agnes Tutut Kusumo, Gita Sugiyarti
Page no 24-29 |
DOI: 10.36348/sjef.2024.v08i02.001
This research aims to analyze the role of active portfolios in the Exchange Traded era Funds (ETFs) and to understand the outperformance and underperformance phenomena that may occur in this context. In the era of ETFs, investors have easier access to a variety of investment portfolios that cover a variety of assets and investment strategies. Therefore, it is important to understand how active portfolios perform in this environment. The research method used in this research is the use of Jensen's model Alpha, which is used to measure portfolio performance by taking into account systematic risk factors. Stock price data, ETFs, and market indices will be analyzed to identify outperformance (above average performance) and underperformance (below average performance) of active portfolios. It is hoped that the results of this research will provide a deeper understanding of the extent to which active portfolios are able to outperform market indices in the era of ETFs. In addition, this research can help investors and fund managers make smarter and more effective investment decisions in an ever-evolving investment environment. It is hoped that this research will make an important contribution to the understanding of investment strategies in the era of ETFs, as well as provide valuable insight for investors and financial professionals interested in active portfolios.
This paper sets an examination for the strength of the monetary policy transmission variables in India for the period 2000 to 2019 on the monthly basis. The variables incorporated in the model are Gross Domestic Product, Bank Rate, Wholesale Price Index and Exchange rate. The techniques of Structural Vector Autoregressive Model (SVAR) have been applied to perceive the clear picture of the contemporaneous relationship among the variables, thus providing with the relative importance and strength of each variable within the model. In the first place, all the variables were instituted to be statistically significant. At the same time, WPI and GDP are found to be more prominent, while exchange rate demanding a pivotal change in the working of the banking sector.
ORIGINAL RESEARCH ARTICLE | Feb. 16, 2024
The Effect of Income Smoothing and Dividend Policy on Tax Avoidance in Indonesia
Dede Erianto, Fardinal Fardinal
Page no 37-46 |
DOI: 10.36348/sjef.2024.v08i02.003
This study aims to examine the effect of earnings smoothing and dividend policy on tax avoidance practices in manufacturing companies listed on the IDX for the 2016-2020 period. This study takes population and samples from financial reports and annual reports of manufacturing companies that contain financial transactions in companies listed on the Indonesia Stock Exchange for the 2016-2020 period. The results of this study indicate that earnings smoothing has a significant effect on tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period. Then, dividend policy has a significant effect on tax avoidance found in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period. Furthermore, profit smoothing and dividend policy together have a significant effect on tax avoidance practices.
REVIEW ARTICLE | Feb. 24, 2024
The Red Queen Effect and how to evade the Red Queen Effect by using Generative AI: Preparing companies for Industry 5.0
Saurav Kumar
Page no 47-54 |
DOI: 10.36348/sjef.2024.v08i02.004
The red queen effect is a metaphor used in the business world to describe the unsuccessful efforts of a company to get ahead of its competition. The red queen effect is the need to continually adapt and evolve to maintain relevance in an ever-changing environment. Companies must constantly innovate and find new ways to stay ahead of the competition to ensure their survival and success. Companies typically research or study the competition and then implement strategies to help boost their company sales and profits. This is an effective and practical method of outmaneuvering the competition. While this technique works in theory, companies might not achieve their goals because the competition engages in the same business practice. Despite a company's efforts to surpass the competition, the company does not move forward or grow. The aims of research paper are bifold firstly it attempts to identify the contributions of the RQE theory and secondly to enable corporates to evade the Red Queen Effect by using generative artificial intelligence to be prepared for Industry 5.0.
ORIGINAL RESEARCH ARTICLE | Feb. 27, 2024
Access, Quality and Outcome under the Sarva Siksha Abhiyan (SSA) Subject to Primary Education in India
Syed Mohd Shahzeb, Professor Mohd Azam Khan
Page no 55-66 |
DOI: 10.36348/sjef.2024.v08i02.005
The Sarva Siksha Abhiyan (SSA) is a significant flagship initiative for elementary education that paves the way for a skilled labour force as well as for rapid economic and social advancement. The importance of elementary education for both human development and economic prosperity has frequently been underlined by a variety of economists and policymakers. As a result, it is crucial to assess the current state of primary education in India in order to assess how well SSA is working there after reaching nearly universal enrolment rates. The current study examines the effectiveness of SSA in relation to two key factors: Access and Quality. Only those access and quality indicators that are pertinent to elementary education in public schools are included. Due to the lack of pertinent data for upper primary education, only issues pertaining to basic education are examined in the current study.