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Journal articles on the topic 'Index funds'

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1

Chang, Edward, and George Swales, Jr. "Do Enhanced Index Funds Outperform Pure Index Funds?" Journal of Finance Issues 4, no. 2 (2006): 128–37. http://dx.doi.org/10.58886/jfi.v4i2.2442.

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This abstract was created post-production by the JFI Editorial Board. In this paper, we first distinguish enhanced indexing from pure indexing, then review the literature on performance studies of enhanced index funds, and examine the characteristics and performance of pure index funds and enhanced index funds.
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2

Crane, Alan D., and Kevin Crotty. "Passive versus Active Fund Performance: Do Index Funds Have Skill?" Journal of Financial and Quantitative Analysis 53, no. 1 (2018): 33–64. http://dx.doi.org/10.1017/s0022109017000904.

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We apply methods designed to measure mutual fund skill to a cross section of funds that is unlikely to exhibit managerial portfolio selection skill: index funds. Surprisingly, these tests imply index fund skill exists, is persistent, and is in similar proportion as in active funds. We use the distribution of passive fund performance to gauge the incremental ability of active managers. Outperformance by top active funds is lower when benchmarked to the index fund distribution and disappears when we account for residual risk. Stochastic dominance tests suggest no risk-averse investor should choo
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3

Alteen, C., and V. Wohlgemuth. "Do actively managed funds perform better than index funds? A test in the Canadian market." European Journal of Management Issues, no. 7 (December 25, 2016): 163–69. https://doi.org/10.15421/191616.

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<strong>Actuality of the study:</strong>&nbsp;Mutual funds are a favourite investment product among many investors. They provide a simple means of diversification, especially for those with smaller amounts of capital, and the popularity of mutual funds has increased with the success of the marketing efforts behind them. <strong>Purpose:</strong>&nbsp;This study evaluates the performance of actively managed and index mutual funds within the Canadian equities market. <strong>Findings:</strong>&nbsp;As index investing has increased in popularity, and other markets have become more connected and o
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4

Kostovetsky, Leonard. "Index Mutual Funds and Exchange-Traded Funds." Journal of Portfolio Management 29, no. 4 (2003): 80–92. http://dx.doi.org/10.3905/jpm.2003.319897.

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5

Skaden, Erik. "Index Mutual Funds and Exchange-Traded Funds." CFA Digest 34, no. 1 (2004): 73–74. http://dx.doi.org/10.2469/dig.v34.n1.1434.

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6

Bruce, Brian R., and Anne Eisenberg. "Global Synthetic Index Funds." Journal of Investing 1, no. 2 (1992): 45–47. http://dx.doi.org/10.3905/joi.1.2.45.

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7

Agapova, Anna. "Conventional mutual index funds versus exchange-traded funds." Journal of Financial Markets 14, no. 2 (2011): 323–43. http://dx.doi.org/10.1016/j.finmar.2010.10.005.

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8

Amin, Moch. "Performance Comparison of Islamic Mutual Funds with Conventional Mutual Funds." Jihbiz : jurnal ekonomi, keuangan dan perbankan syariah 3, no. 1 (2019): 38–54. http://dx.doi.org/10.33379/jihbiz.v3i1.787.

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The purpose of this study is to determine whether or not there is a difference in mutual fund performance between sharia mutual funds and conventional mutual funds from 2016 to 2018. The data used is secondary data in the form of NVA report data of 34 mutual funds consisting of 16 sharia mutual funds and 18 conventional mutual funds. The data analysis method used is the Jensen Index, Sharpe index, Treynor Index, MM Index, and TT Index methods and uses the t-test to see whether there are differences in mutual fund performance. The results of this study conclude that quantitatively there is no d
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9

Rai, Aditya. "A Study on Mutual Fund Performance: Analyzing Index Funds vs. Actively Managed Funds in the Indian Market." International Scientific Journal of Engineering and Management 04, no. 06 (2025): 1–9. https://doi.org/10.55041/isjem04308.

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Abstract This study presents a comparative analysis of actively managed mutual funds and index (passive) funds within the Indian financial landscape. The research evaluates ten selected funds—five active and five passive—spanning a five-year period (January 2020 to December 2024). The objective was to assess these funds across key parameters including compound annual growth rate (CAGR), standard deviation, Sharpe Ratio, Alpha, Beta, expense ratio, and tracking error. The analysis indicates that passive funds, owing to their lower costs and consistent benchmark tracking, offer better risk-adjus
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10

Raubenheimer, H. "Serial correlation and TEV bias in index funds." South African Journal of Business Management 34, no. 2 (2003): 45–53. http://dx.doi.org/10.4102/sajbm.v34i2.681.

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Index or passive fund managers and investors analyse the interim volatility of the difference between their fund’s returns and the index’s returns, i.e. the fund’s tracking error variance** (TEV) in order to monitor the success with which tracker funds mimic their benchmark. The objective of a passive or index fund manager should be to keep TEV as close to zero as possible. Pope and Yadav (1994) show that an index fund that is overweight relative to it’s index in either relatively less or relatively more liquid stocks, is expected to exhibit negative serial correlation in its TE’s. Consequentl
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11

Gaba, Ashima, and Ravinder Kumar. "Exchange Traded Funds Vs Index Funds: Comparative Performance Analysis." Effulgence-A Management Journal 16, Spl1 (2018): 01. http://dx.doi.org/10.33601/effulgence.rdias/v16/ispl1/2018/article0.7.

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12

Elton, Edwin J., Martin J. Gruber, and Andre de Souza. "Are enhanced index funds enhanced?" European Financial Management 28, no. 2 (2021): 327–44. http://dx.doi.org/10.1111/eufm.12339.

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13

Miller, Todd, and Timothy S. Meckel. "Beating Index Funds With Derivatives." Journal of Portfolio Management 25, no. 5 (1999): 75–87. http://dx.doi.org/10.3905/jpm.1999.319708.

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14

POLSON, NICHOLAS G., and JEFFREY YASUMOTO. "Investing in Leveraged Index Funds." Journal of Risk Finance 1, no. 1 (1999): 41–51. http://dx.doi.org/10.1108/eb022936.

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15

Alexander, C., and A. Barbosa. "Hedging index exchange traded funds." Journal of Banking & Finance 32, no. 2 (2008): 326–37. http://dx.doi.org/10.1016/j.jbankfin.2007.03.012.

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16

Errunza, Vihang R. "Pricing of national index funds." Review of Quantitative Finance and Accounting 1, no. 1 (1991): 91–100. http://dx.doi.org/10.1007/bf02408408.

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17

Raja, mannar Badur. "Mutual Funds Financial Performance Analysis." Asian Journal of Research in Banking & Finance 2, no. 10 (2012): 57–71. https://doi.org/10.5281/zenodo.7391106.

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The performance of four mutual funds operated by private sector banks, two each from HDFC and ICICI Prudential Mutual fund are being reported. The period of study is, from the financial year 2002-03 to 2011-12. The funds were compared with S&amp;P CNX Nifty market Index by correlation and standard deviation. The interest offered by State Bank of India on Savings Bank was taken as a risk-free return. The statistical Evaluation parameters include Sharpe&rsquo;s Index, Treynor&rsquo;sRatio, Jensen&rsquo;s alpha, Fama&rsquo;s Measure and M Square.
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18

Blitz, David, Joop Huij, and Laurens Swinkels. "The Performance of European Index Funds and Exchange-Traded Funds." European Financial Management 18, no. 4 (2010): 649–62. http://dx.doi.org/10.1111/j.1468-036x.2010.00550.x.

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19

Ningrum, Mersa Lestari, and Asep Risman. "Performance Analysis of Protected Fund and Equity Fund Using Sharpe, Treynor, Jensen." Indikator: Jurnal Ilmiah Manajemen dan Bisnis 6, no. 1 (2022): 52. http://dx.doi.org/10.22441/indikator.v6i1.15228.

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This study was conducted to determine the mutual funds' performance of capital-protected and equity funds from February 2021 to August 2021. Return, risk, Sharpe index, Treynor index, and Jensen index are all used to evaluate mutual fund performance. Sample data consisted of 462 capital-protected fund products and 273 equity fund products. The performance of equities funds outperforms that of capital-protected funds, according to the average Sharpe index. The Treynor index showed that capital-protected funds outperformed the market. The Jensen index shows that capital-protected funds outperfor
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20

Chang, C. Edward, H. Doug Witte, and Tsu-Hong Yen. "International Index Investing During the Financial Crisis." Journal of Finance Issues 8, no. 2 (2010): 126–39. http://dx.doi.org/10.58886/jfi.v8i2.2332.

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Conventional wisdom suggests that active portfolio management should be beneficial in international markets, given the relative inefficiency of these markets compared to the U.S. market. Also, recent empirical evidence for U.S. mutual funds suggests that active portfolio management beats indexing during bear markets. Whether this result holds for international mutual funds is an open question. The performance of international mutual funds over the last 15 years as well as during the financial crisis of 2007-2009 offers the most recent timeframes in which to examine these two issues. We compare
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21

De Mingo-López, Diego Víctor, and Juan Carlos Matallín-Sáez. "The investor’s choice between active and index funds." UCJC Business and Society Review (formerly known as Universia Business Review) 16, no. 1 (2019): 38–59. https://doi.org/10.3232/ubr.2019.v16.n1.02.

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This study compares the performance of actively-managed mutual funds and index funds. For a large sample of US domestic equity share-class funds, we analyze the relation between portfolio turnover and fund risk-adjusted return. Using gross returns, results indicate that before (after) the onset of the recent financial crisis, low-turnover active funds reach higher (similar) results than those obtained by index funds, whilst high-turnover active funds have similar (worse) returns to index funds. The same evidence is found when net returns are considered, but index funds perform comparatively be
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22

Narend, S., and M. Thenmozhi. "What drives fund flows to index ETFs and mutual funds? A panel analysis of funds in India." DECISION 43, no. 1 (2016): 17–30. http://dx.doi.org/10.1007/s40622-016-0124-6.

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23

Cavagnetto, Stefano, Inna Makarenko, Václav Brož, Lucie Rivera, and Hanna Filatova. "The sustainability transparency index of sovereign wealth funds: their asset size, SDG country rankings and cross-region comparison." Investment Management and Financial Innovations 19, no. 4 (2022): 218–31. http://dx.doi.org/10.21511/imfi.19(4).2022.18.

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Sovereign wealth funds accumulate the largest resources to bridge the financial gap under the Sustainable Development Goals. The basic mechanism for accelerating sustainability progress is the effort of sovereign wealth funds to incorporate environmental, social, governance and ethical criteria and targets of these Goals disclosed in their sustainability reports. This study aims to develop a methodology for assessing the Sustainability Transparency Index in a sample of sovereign wealth funds, as well as to investigate how this transparency is influenced by the size of funds’ assets and sustain
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24

Raja, mannar Badur. "Overview and Performance of Select HDFC Mutual Funds: Equity Fund and Growth Fund – Growth Option." Asian Journal of Research in Banking & Finance 3, no. 1 (2013): 88–103. https://doi.org/10.5281/zenodo.7390650.

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The two mutual funds (i) Equity (G) and Growth (G) of the fund House, HDFC are reviewed in a detailed fashion with a brief introduction of the fund house itself. The funds are then statistically evaluated by correlation with the benchmark, S&amp;P CNX Nifty, standard deviation, Sharpe&rsquo;s Index, Treynor&rsquo;s Ratio, Jensen&rsquo;s alpha, Fama&rsquo;s Measure and M Square&nbsp;. An analytical review of the funds is incorporated.
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25

Vanita Tripathi and Varun Bhandari. "Do Ethical Funds Underperform Conventional Funds? - Empirical Evidence from India." Think India 18, no. 3 (2015): 10–19. http://dx.doi.org/10.26643/think-india.v18i3.7792.

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One of the significant developments in the investing community is the rise of socially responsible or ethical investments during last two decades. Because of the increasing size and importance of ethical mutual funds, this paper seeks to evaluate and compare the performance of ethical mutual funds with general funds and benchmark index (S&amp;P BSE Shariah 500 Equity Index) in the Indian market. The sample comprises six ethical fund schemes and three general fund schemes of Tauras mutual fund over the period 2009-2014 using weekly NAVs. The study uses return, risk, risk-adjusted measures (Shar
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26

Sawant, Shekhar, Virendra Amonkar, and Filipe Rodrigues E Melo. "Performance Evaluation of Mutual Funds Using Risk Return Relationship Models - An Empirical Study." International Journal of Professional Business Review 8, no. 6 (2023): e02205. http://dx.doi.org/10.26668/businessreview/2023.v8i6.2205.

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Purpose: The main purpose of this study is to analyse the performance of mutual funds using Risk- Return Relationship Models. Theoretical framework: One of India's most important financial intermediaries, mutual funds can provide a wide range of financial services to small and large investors. They are also involved in the country's transformation, and their market participation has become more important. Evaluating a mutual fund's performance concerns investors, researchers, and fund managers. It should be conducted in a way that helps investors make informed decisions and maximize returns. A
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27

Herlambang, Apriadi. "The Performace Comparation in Indonesia: Conventional Mutual Funds vs Sharia Mutual Funds." Journal of Business Management Review 1, no. 5 (2020): 295–312. http://dx.doi.org/10.47153/jbmr15.642020.

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This study aims to see, whether or not there is a reference to the performance of conventional and Islamic mutual funds in Indonesia with the Sharpe Index, Treynor Index and Jensen Index. The population of this research is Conventional Equity Mutual Funds and Sharia Equity Mutual Funds which are listed on the Indonesia Stock Exchange. Sampling was carried out using proposive judgment sampling method, namely the selected sample was invincible with predetermined selection criteria. The sample chosen is the monthly NAB of Islamic and conventional equity funds that were effective before January 1,
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28

Waseem, Jatoi. "Pakistan Stock Exchange's Causal Relationship with Mutual Fund Industry in ‎Pakistan. Benchmark: KSE100 Index & Equity Mutual Funds." SALU-Commerce & Economics Review 6, no. 1 (2020): 281–99. https://doi.org/10.5281/zenodo.4408785.

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<em>This research paper studies the causal relationship between Pakistan Stock Exchange and Mutual Fund Industry in Pakistan. KSE100 &ndash; Index and Equity mutual funds has been selected as benchmark to check the relationship between them. A causality and Vector Auto Regression technique has been used to see the impact of stock returns over mutual funds flows and vice versa. The Johansen test showed that variables under study are not cointegrated in long run. Granger causality and Vector Auto regression Model test shows unidirectional relationship of KSE100 index over Mutual fund flows. KSE1
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29

Hanke, Michael, and Klaus Schredelseker. "Index funds should be expected to underperform the index." Applied Economics Letters 17, no. 10 (2010): 991–94. http://dx.doi.org/10.1080/17446540802599689.

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30

Meade, Nigel, and Gerald R. Salkin. "Index Funds-Construction and Performance Measurement." Journal of the Operational Research Society 40, no. 10 (1989): 871. http://dx.doi.org/10.2307/2583396.

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31

Woodlock, James R. C. "Uses of Futures and Index Funds." AIMR Conference Proceedings 1998, no. 6 (1998): 111–16. http://dx.doi.org/10.2469/cp.v1998.n6.11.

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32

Kornbluth, Jonathan S. H., Nigel Meade, and Gerald R. Salkin. "Bond Index Funds-A Duration Approach." Journal of the Operational Research Society 44, no. 9 (1993): 945. http://dx.doi.org/10.2307/2584186.

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33

Granito, Michael R. "The problem with bond index funds." Journal of Portfolio Management 13, no. 4 (1987): 41–47. http://dx.doi.org/10.3905/jpm.1987.409121.

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34

Khorana, Ajay, Edward Nelling, and Jeffrey J. Trester. "The Emergence of Country Index Funds." Journal of Portfolio Management 24, no. 4 (1998): 78–84. http://dx.doi.org/10.3905/jpm.1998.409651.

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35

Black, Keith H. "Index Funds and Stock Market Growth." CFA Digest 33, no. 3 (2003): 65–66. http://dx.doi.org/10.2469/dig.v33.n3.1330.

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36

Sarkar, Subhrangshu Sekhar, Santanu Dutta, and Pinky Dutta. "A Review of Indian Index Funds." Global Business Review 14, no. 1 (2013): 89–98. http://dx.doi.org/10.1177/0972150912466445.

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37

Meade, Nigel, and Gerald R. Salkin. "Index Funds—Construction and Performance Measurement." Journal of the Operational Research Society 40, no. 10 (1989): 871–79. http://dx.doi.org/10.1057/jors.1989.155.

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38

Kornbluth, Jonathan S. H., Nigel Meade, and Gerald R. Salkin. "Bond Index Funds — A Duration Approach." Journal of the Operational Research Society 44, no. 9 (1993): 945–53. http://dx.doi.org/10.1057/jors.1993.162.

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39

Goetzmann, William N., and Massimo Massa. "Index Funds and Stock Market Growth*." Journal of Business 76, no. 1 (2003): 1–28. http://dx.doi.org/10.1086/344111.

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40

Bender, Jennifer, Robert Pozen, and Mitesh Tank. "Proactive Indexing: Index Funds and IPOs." Journal of Index Investing 11, no. 2 (2020): 21–41. http://dx.doi.org/10.3905/jii.2020.1.094.

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41

K. Kannan, Mariappan Gnanaprakash, N. Muthu Meenakshi. "Performance Evaluation Of Index Funds And Etfs." European Economic Letters (EEL) 15, no. 2 (2025): 4171–81. https://doi.org/10.52783/eel.v15i2.3259.

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This study tries to find out and analyze the performance of 147 passive Mutual Fund schemes (index and ETFs funds) following the same benchmark index. The performance of the selected mutual fund schemes are analyzed on the basis of data available in the AMFI website. It includes data from 2006 to 2022. This study uses the differential return and its standard deviation, excess return against benchmark. 96 index funds and 51 ETFs funds and their corresponding benchmark index data are taken for study. This study will give the investors the clear idea as to invest in which passive funds. This stud
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42

Fajrinda, Bilhaq, Jubaedah Nawir, and Nurmatias Nurmatias. "The Relation of Fund Characteristics on Sharia Equity Mutual Funds Performance." Al Tijarah 8, no. 1 (2022): 15–26. http://dx.doi.org/10.21111/tijarah.v8i1.6553.

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This research aims to find out and prove the influence of fund size, fund age, and jakarta islamic index on sharia equity mutual funds performance. The object of the study is sharia equity mutual funds using a sample of 16 mutual fund products during the period 2017-2020 and the use of Data Panel Regression Analysis Techniques through the Eviews 10 program. The results found in the study are fund size, fund age and JII positively affect on sharia equity mutual funds performance.
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43

Insani, M. Hafizal, Abdul Manan, and Eka Agustiani. "Pengaruh Pendapatan Asli Daerah dan Dana Perimbangan Terhadap Indeks Pembangunan Manusia Kabupaten/Kota NTB Tahun 2018-2022." Indo-Fintech Intellectuals: Journal of Economics and Business 4, no. 2 (2024): 355–66. http://dx.doi.org/10.54373/ifijeb.v4i2.1281.

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This research aims to determine the influence of local original income (regional taxes and regional levies), and balancing funds (profit sharing funds, general allocation funds, and special allocation funds), on the Regency/City Human Development Index in NTB Province for 2018-2022. Data analysis uses panel data regression with the fixed effect model method. The results of this research show that: (1) Regional taxes do not have a significant effect on the Regency/City Human Development Index in NTB Province. (2) Regional levies do not have a significant effect on the Regency/City Human Develop
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44

Siddiqui, Shoaib Alam, and Dheeraj Daniel. "MEASURING THE EFFICIENCY OF INDEX FUNDS: EVIDENCE FROM INDIA." Applied Finance Letters 11 (January 23, 2023): 109–21. http://dx.doi.org/10.24135/afl.v11i.593.

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The purpose of this study is to analyse the technical efficiency of Index funds using data envelopment analysis (DEA) and to assess the reasons of inefficiency. Based on secondary data collected from the annual reports of the Association of Mutual Funds in India, this study examined the efficiency performance of the top Index funds available to Indian investors from the year 2018 to 2022 using radial measurers (BCC) of data envelopment analysis. The results show that the average efficiency of Index funds was 83.04 percent during the study period, and the average efficiency of index funds was a
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45

Lisa, Oyong. "Analysis Macroeconomic On Islamicity Performance Index Through Fund Third Parties The Islamic Cooperation." International Journal of Social Science and Business 1, no. 1 (2017): 38. http://dx.doi.org/10.23887/ijssb.v1i1.10161.

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This study aimed to analyze the effect of macroeconomic consisting of the exchange rate, inflation and Bi rate to deposit and islamicity performance index, analyze the influence of third party funds to islamicity performance index. analyze the influence of the macroeconomic performance index islamicity through third-party funds. The samples used in the study of 76 cooperatives of sharia in Indonesia. The analysis technique used path analysis. Based on the results of the analysis indicated that the macroeconomic path which consists of the exchange rate and the BI rate significantly influence th
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46

IRIANTO, IRIANTO, BAIQ KISNAWATI, ISTIARTO ISTIARTO, and BQ ERTIN HELMIDA. "PENGARUH PENDAPATAN ASLI DAERAH, DANA ALOKASI UMUM, DANA ALOKASI KHUSUS DAN BELANJA MODAL TERHADAP INDEKS PEMBANGUNAN MANUSIA (STUDI PADA KABUPATEN DAN KOTA DI PROVINSI NUSA TENGGARA BARAT)." GANEC SWARA 15, no. 2 (2021): 1258. http://dx.doi.org/10.35327/gara.v15i2.244.

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This study aims to determine the effect of local revenue, general allocation funds, specific allocation funds, and capital expenditures on the human development index in districts and cities in West Nusa Tenggara province. This type of research is classified as associative, where there are four independent variables (local revenue, general allocation funds, special allocation funds and capital expenditures) and one dependent variable, namely the human development index. The population used was local government financial reports consisting of ten districts / cities in a period of seven years fr
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47

Robiyanto, Robiyanto, Michael Alexander Santoso, and Rihfenti Ernayani. "Sharia mutual funds performance in Indonesia." Business: Theory and Practice 20 (January 9, 2019): 11–18. https://doi.org/10.3846/btp.2019.02.

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The study aims to measure each Sharia mutual fund performance and compare with market performance in Indonesia. Sharia mutual fund investment instruments in Indonesia have positive developments over the period from 2012 to 2017. These positive developments add to the option of investment instruments for public, especially investors who put forward the principles of Sharia. This research was conducted so that the public could have scientific information about Sharia mutual funds that have the best performance. The study found consistent results regarding Sharia mutual funds with the best perfor
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48

Chang, C. Edward, and Walt Nelson. "Real Estate Index Funds: Characteristics and Performance Evaluation." Journal of Finance Issues 7, no. 1 (2009): 119–29. http://dx.doi.org/10.58886/jfi.v7i1.2574.

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This paper examines operating characteristics, risk and performance measures of all available vehicles for index investing in U.S. real estate funds during the ten-year period from April, 1999, to March, 2009. The authors of this study find real estate index mutual funds and exchange-traded funds exhibit lower Expense Ratios, lower Turnover Rates, and mostly lower Tax Cost Ratios than category averages. As newcomers, real estate exchange-traded funds have had a good start, with the lowest Expense Ratios, lowest Turnover Rates, and lowest Tax Cost Ratios. Vanguard’s four index mutual funds over
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49

ATEŞ, Mehmet Hanifi, Canan DAĞIDIR ÇAKAN, and İdil KOÇ. "Comparative Performance Analysis of Sustainable Themed Funds with Traditional Funds in Turkey." Ekonomi, Politika & Finans Araştırmaları Dergisi 7, IERFM Özel Sayısı (2022): 123–39. http://dx.doi.org/10.30784/epfad.1148841.

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Sustainable finance aims to contribute to the development of an environmentally and socially sensitive production approach of economic activity in order to leave a more livable world to future generations with an environmental and social investment approach. It increases the importance of comparing the performances of sustainable-themed funds with traditional themed funds, for investors to consider investing with a socially responsible investment approach. In this study, the performances of sustainable-themed funds with traditional funds and indices in Turkey were analyzed comparatively. BIST
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50

Asyngier, Roman, and Tomasz Miziołek. "Impact of Fund Managers Changes on Polish Equity Funds Performance." Folia Oeconomica Stetinensia 17, no. 1 (2017): 97–108. http://dx.doi.org/10.1515/foli-2017-0008.

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AbstractPurpose - the aim of the article was an analysis of the returns of universal Polish equity investment funds before and after the change of portfolio managers. The article deals with the following research problem: how the replacement of investment fund managers impacts the results of Polish equity funds. Methodology - the research methodology which used the indexes of relative strength allows determining the abnormal returns of funds in relation to the WIG Index before and after the change of managers. Findings - the analyses showed negative abnormal returns before changing managers an
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