How to cite this paper
Wahyudi, S., Hasanudin, H & Pangestutia, I. (2020). Asset allocation and strategies on investment portfolio performance: A study on the implementation of employee pension fund in Indonesia.Accounting, 6(5), 839-850.
Refrences
Agrawal, A., & Knoeber, C. R. (1996). Firm performance and mechanisms to control agency problems between managers and shareholders. Journal of Financial and Quantitative Analysis, 31(3), 377-397.
Ahuja, A. (2015). Portfolio diversification in the Karachi Stock Exchange. Pakistan Journal of Engineering, Technology & Science, 1(1).
Alexeev, V., & Tapon, F. (2012). Equity portfolio diversification: how many stocks are enough? evidence from five developed markets. Evidence from Five Developed Markets (November 28, 2012). FIRN Research Paper.
Asher, M. G. (2008). Social security reform imperatives in developing Asia. The Indian Economic Journal, 56(1),112-123.
Avramov, D., & R. Wermers. (2006). Investing in mutual funds when returns are predictable. Journal of Financial Economics 81(2), 339-377.
Beiner, S., Drobetz, W., Schmid, F., & Zimmermann, H. (2004). Is board size an independent corporate governance mechanism?. Kyklos, 57(3), 327-356.
Besley, T. J., & Prat, A. (2003). Pension fund governance and the choice between defined benefit and defined contribution plans.
Blitz, D., & De Groot, W. (2014). Strategic allocation to commodity factor premiums. The Journal of Alternative Investments, 17(2), 103-115.
Bodie, Z., & Merton, R. C. (2002). International pension swaps. Journal of Pension Economics & Finance, 1(1), 77-83.
Brennan, M. J., Schwartz, E. S., & Lagnado, R. (1997). Strategic asset allocation. Journal of Economic Dynamics and Control 21(8-9), 1377-1403.
Brinson, G. P., Hood, L. R., & Beebower, G. L. (1986). Determinants of portfolio performance. Financial Analysts Journal, 42(4), 39-44.
Brinson, G. P., Singer, B. D., & Beebower, G. L. (1991). Determinants of portfolio performance II: An update. Financial Analysts Journal, 47(3), 40-48.
Carter, C. B., & Lorsch, J. W. (2003). Back to the drawing board: Designing corporate boards for a complex world. Harvard Business Press.
Cheung, W., Fung, S., & Tsai, S. C. (2009). The impacts of managerial and institutional ownership on firm performance: The role of stock price informativeness and corporate governance. Corporate Ownership and Control, 6(4), 115.
Claessens, S., Djankov, S., & Lang, L. H. (2000). The separation of ownership and control in East Asian corporations. Journal of Financial Economics, 58(1-2), 81-112.
Core, J. E., Holthausen, R. W., & Larcker, D. F. (1999). Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics, 51(3), 371-406.
Curran, P. J., West, S. G., & Finch, J. F. (1996). The robustness of test statistics to nonnormality and specification error in confirmatory factor analysis. Psychological Methods, 1(1), 16.
Cornett, M. M., Marcus, A. J., Saunders, A., & Tehranian, H. (2007). The impact of institutional ownership on corporate operating performance. Journal of Banking & Finance, 31(6), 1771-1794.
Dahlquist, M., Engström, S., & Söderlind, P. (2000). Performance and characteristics of Swedish mutual funds. Journal of Financial and Quantitative Analysis, 35(3), 409-423.
Daza, J., & Contzen, M. (2009). A risk-free portfolio with risky assets. International Research Journal of Finance and Economics, 32, 1450-2887.
Del Guercio, D., Dann, L. Y., & Partch, M. M. (2003). Governance and boards of directors in closed-end investment companies. Journal of Financial Economics, 69(1), 111-152.
Drobetz, W., & Köhler, F. (2002). The contribution of asset allocation policy to portfolio performance. Financial Markets and Portfolio Management, 16(2), 219.
Elyasiani, E., & Jia, J. J. (2008). Institutional ownership stability and BHC performance. Journal of Banking & Finance, 32(9), 1767-1781.
Faccio, M., & Lang, L. H. (2002). The ultimate ownership of Western European corporations. Journal of Financial Economics, 65(3), 365-395.
Fama, E. F., & Jensen, M. C. (1983). Agency problems and residual claims. The journal of law and Economics, 26(2), 327-349.
Ferdinand, A. (2006). Structural Equation Modelling dalam Penelitian Manajemen: Badan Penerbit Universitas Diponegoro, Semarang.
Ferris, S. P., Jagannathan, M., & Pritchard, A. C. (2003). Too busy to mind the business? Monitoring by directors with multiple board appointments. The Journal of Finance, 58(3), 1087-1111.
Fuerst, O., & Kang, S. H. (2004). Corporate governance, expected operating performance, and pricing. Corporate Governance, Expected Operating Performance, and Pricing.” Corporate Ownership and Control, 1(2), 13-30.
Ghozali, I. (2009). Aplikasi Multivariate Program SPSS: Universitas Diponegoro, Semarang.
Ghozali, I. (2011). Aplikasi Analisis Multivariate Dengan Program SPSS: BP Universitas Diponegoro.
Ghozali, I. (2016). Aplikasi Analisis Multivariete dengan Program IBM SPSS 23, Edisi Delapan. Penerbit Universitas Diponogoro. Semarang.
Giannetti, M., & Laeven, L. (2008). Pension reform, ownership structure, and corporate governance: Evidence from a natural experiment. The Review of Financial Studies, 22(10), 4091-4127.
Grinblatt, M., & Titman, S. (1994). A study of monthly mutual fund returns and performance evaluation techniques. Journal of Financial and Quantitative Analysis, 29(3), 419-444.
Hair, J. F., W. C. Black, Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis. Global edition: Pearson Higher Education Upper Saddle River, NJ.
Hauss, H. (2004). The role of international property investments in the global asset allocation process. Australian Property Journal, 38(3), 198.
Hermalin, B. E., & Weisbach, M. S. (2001). Boards of directors as an endogenously determined institution: A survey of the economic literature: National Bureau of Economic Research.
Hilsted, J. C. (2012). Active Portfolio Management and Portfolio Construction. Unpublished Master’s Thesis.
Ibbotson, R. G., & Kaplan, P. D. (2000). Does asset allocation policy explain 40, 90, or 100 percent of performance? Financial Analysts Journal, 56(1), 26-33.
Imam, G. (2005). Aplikasi analisis multivariate dengan program SPSS. Semarang: Badan Penerbit Universitas Diponegoro.
Jensen, M. C. (1968). The performance of mutual funds in the period 1945–1964. The Journal of Finance, 23(2), 389-416.
Jensen, M. C. (1993). The modern industrial revolution, exit, and the failure of internal control systems. The Journal of Finance, 48(3), 831-880.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Kim, H., & Lim, C. (2010). Diversity, outside directors and firm valuation: Korean evidence. Journal of Business Research, 63 (3), 284-291.
Kumara, A. S., & Pfau, W. (2012). REFORMING PENSION FUNDS IN SRI LANKA: INTERNATIONAL DIVERSIFICATION AND THE EMPLOYEES'PROVIDENT FUND. Australian Economic Papers, 51(1), 23-37..
Markowitz, H. (1952). Portfolio selection. The Journal of Finance, 7(1), 77-91.
Masulis, R. W., Pham, P. K., & Zein, J. (2011). Family business groups around the world: Financing advantages, control motivations, and organizational choices. The Review of Financial Studies, 24(11), 3556-3600.
Nyaga, M. M. (2014). The effects of diversification on portfolio risk at the nairobi securities exchange.
Roy, A. D. (1952). Safety first and the holding of assets. Econometrica: Journal of the Econometric Society, 20(3), 431-449.
Santacruz, L. (2011). Strategic asset allocation and portfolio performance. Journal of Management Research, 1(2).
Sharpe, W. F. (1991). The Arithmetic of Active Management. Financial Analysts Journal, 47(1), 7-9.
Sharpe, W. F., Alexander, G. J., & Bailey, J. (1995). Investments prentice hall. Englewood Cliffs, New Jersey 7632.
Shleifer, A., La Porta, R., & Lopez-De-Silanes, F. (1999). Corporate ownership around the world. Journal of Finance, 54(2), 471-517.
Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. The Journal of Finance 52(2), 737-783.
Siallagan, H., & Machfoedz, M. U. (2006). Mekanisme corporate governance, kualitas laba dan nilai perusahaan. Simposium Nasional Akuntansi IX. Padang, 23-26.
Solnik, B., & McLeavey, D. (2013). Global Investments. Pearson New International Edition: Pearson Higher Ed.
Solomon, J. (2007). Corporate governance and accountability. John Wiley & Sons.
Taylor, S. (2010). Financial Planning in Australia. 4th ed., Chatswood ed.
Tufano, P., & Sevick, M. (1997). Board structure and fee-setting in the US mutual fund industry. Journal of Financial Economics, 46(3), 321-355.
Wahab, E. A. A., How, J., & Verhoeven, P. (2008). Corporate governance and institutional investors: evidence from Malaysia. Asian Academy of Management Journal of Accounting and Finance, 4(2), 67-90.
Yermack, D. (1996). Higher market valuation of companies with a small board of directors. Journal of Financial Economics, 40(2), 185-211.
Ahuja, A. (2015). Portfolio diversification in the Karachi Stock Exchange. Pakistan Journal of Engineering, Technology & Science, 1(1).
Alexeev, V., & Tapon, F. (2012). Equity portfolio diversification: how many stocks are enough? evidence from five developed markets. Evidence from Five Developed Markets (November 28, 2012). FIRN Research Paper.
Asher, M. G. (2008). Social security reform imperatives in developing Asia. The Indian Economic Journal, 56(1),112-123.
Avramov, D., & R. Wermers. (2006). Investing in mutual funds when returns are predictable. Journal of Financial Economics 81(2), 339-377.
Beiner, S., Drobetz, W., Schmid, F., & Zimmermann, H. (2004). Is board size an independent corporate governance mechanism?. Kyklos, 57(3), 327-356.
Besley, T. J., & Prat, A. (2003). Pension fund governance and the choice between defined benefit and defined contribution plans.
Blitz, D., & De Groot, W. (2014). Strategic allocation to commodity factor premiums. The Journal of Alternative Investments, 17(2), 103-115.
Bodie, Z., & Merton, R. C. (2002). International pension swaps. Journal of Pension Economics & Finance, 1(1), 77-83.
Brennan, M. J., Schwartz, E. S., & Lagnado, R. (1997). Strategic asset allocation. Journal of Economic Dynamics and Control 21(8-9), 1377-1403.
Brinson, G. P., Hood, L. R., & Beebower, G. L. (1986). Determinants of portfolio performance. Financial Analysts Journal, 42(4), 39-44.
Brinson, G. P., Singer, B. D., & Beebower, G. L. (1991). Determinants of portfolio performance II: An update. Financial Analysts Journal, 47(3), 40-48.
Carter, C. B., & Lorsch, J. W. (2003). Back to the drawing board: Designing corporate boards for a complex world. Harvard Business Press.
Cheung, W., Fung, S., & Tsai, S. C. (2009). The impacts of managerial and institutional ownership on firm performance: The role of stock price informativeness and corporate governance. Corporate Ownership and Control, 6(4), 115.
Claessens, S., Djankov, S., & Lang, L. H. (2000). The separation of ownership and control in East Asian corporations. Journal of Financial Economics, 58(1-2), 81-112.
Core, J. E., Holthausen, R. W., & Larcker, D. F. (1999). Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics, 51(3), 371-406.
Curran, P. J., West, S. G., & Finch, J. F. (1996). The robustness of test statistics to nonnormality and specification error in confirmatory factor analysis. Psychological Methods, 1(1), 16.
Cornett, M. M., Marcus, A. J., Saunders, A., & Tehranian, H. (2007). The impact of institutional ownership on corporate operating performance. Journal of Banking & Finance, 31(6), 1771-1794.
Dahlquist, M., Engström, S., & Söderlind, P. (2000). Performance and characteristics of Swedish mutual funds. Journal of Financial and Quantitative Analysis, 35(3), 409-423.
Daza, J., & Contzen, M. (2009). A risk-free portfolio with risky assets. International Research Journal of Finance and Economics, 32, 1450-2887.
Del Guercio, D., Dann, L. Y., & Partch, M. M. (2003). Governance and boards of directors in closed-end investment companies. Journal of Financial Economics, 69(1), 111-152.
Drobetz, W., & Köhler, F. (2002). The contribution of asset allocation policy to portfolio performance. Financial Markets and Portfolio Management, 16(2), 219.
Elyasiani, E., & Jia, J. J. (2008). Institutional ownership stability and BHC performance. Journal of Banking & Finance, 32(9), 1767-1781.
Faccio, M., & Lang, L. H. (2002). The ultimate ownership of Western European corporations. Journal of Financial Economics, 65(3), 365-395.
Fama, E. F., & Jensen, M. C. (1983). Agency problems and residual claims. The journal of law and Economics, 26(2), 327-349.
Ferdinand, A. (2006). Structural Equation Modelling dalam Penelitian Manajemen: Badan Penerbit Universitas Diponegoro, Semarang.
Ferris, S. P., Jagannathan, M., & Pritchard, A. C. (2003). Too busy to mind the business? Monitoring by directors with multiple board appointments. The Journal of Finance, 58(3), 1087-1111.
Fuerst, O., & Kang, S. H. (2004). Corporate governance, expected operating performance, and pricing. Corporate Governance, Expected Operating Performance, and Pricing.” Corporate Ownership and Control, 1(2), 13-30.
Ghozali, I. (2009). Aplikasi Multivariate Program SPSS: Universitas Diponegoro, Semarang.
Ghozali, I. (2011). Aplikasi Analisis Multivariate Dengan Program SPSS: BP Universitas Diponegoro.
Ghozali, I. (2016). Aplikasi Analisis Multivariete dengan Program IBM SPSS 23, Edisi Delapan. Penerbit Universitas Diponogoro. Semarang.
Giannetti, M., & Laeven, L. (2008). Pension reform, ownership structure, and corporate governance: Evidence from a natural experiment. The Review of Financial Studies, 22(10), 4091-4127.
Grinblatt, M., & Titman, S. (1994). A study of monthly mutual fund returns and performance evaluation techniques. Journal of Financial and Quantitative Analysis, 29(3), 419-444.
Hair, J. F., W. C. Black, Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis. Global edition: Pearson Higher Education Upper Saddle River, NJ.
Hauss, H. (2004). The role of international property investments in the global asset allocation process. Australian Property Journal, 38(3), 198.
Hermalin, B. E., & Weisbach, M. S. (2001). Boards of directors as an endogenously determined institution: A survey of the economic literature: National Bureau of Economic Research.
Hilsted, J. C. (2012). Active Portfolio Management and Portfolio Construction. Unpublished Master’s Thesis.
Ibbotson, R. G., & Kaplan, P. D. (2000). Does asset allocation policy explain 40, 90, or 100 percent of performance? Financial Analysts Journal, 56(1), 26-33.
Imam, G. (2005). Aplikasi analisis multivariate dengan program SPSS. Semarang: Badan Penerbit Universitas Diponegoro.
Jensen, M. C. (1968). The performance of mutual funds in the period 1945–1964. The Journal of Finance, 23(2), 389-416.
Jensen, M. C. (1993). The modern industrial revolution, exit, and the failure of internal control systems. The Journal of Finance, 48(3), 831-880.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Kim, H., & Lim, C. (2010). Diversity, outside directors and firm valuation: Korean evidence. Journal of Business Research, 63 (3), 284-291.
Kumara, A. S., & Pfau, W. (2012). REFORMING PENSION FUNDS IN SRI LANKA: INTERNATIONAL DIVERSIFICATION AND THE EMPLOYEES'PROVIDENT FUND. Australian Economic Papers, 51(1), 23-37..
Markowitz, H. (1952). Portfolio selection. The Journal of Finance, 7(1), 77-91.
Masulis, R. W., Pham, P. K., & Zein, J. (2011). Family business groups around the world: Financing advantages, control motivations, and organizational choices. The Review of Financial Studies, 24(11), 3556-3600.
Nyaga, M. M. (2014). The effects of diversification on portfolio risk at the nairobi securities exchange.
Roy, A. D. (1952). Safety first and the holding of assets. Econometrica: Journal of the Econometric Society, 20(3), 431-449.
Santacruz, L. (2011). Strategic asset allocation and portfolio performance. Journal of Management Research, 1(2).
Sharpe, W. F. (1991). The Arithmetic of Active Management. Financial Analysts Journal, 47(1), 7-9.
Sharpe, W. F., Alexander, G. J., & Bailey, J. (1995). Investments prentice hall. Englewood Cliffs, New Jersey 7632.
Shleifer, A., La Porta, R., & Lopez-De-Silanes, F. (1999). Corporate ownership around the world. Journal of Finance, 54(2), 471-517.
Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. The Journal of Finance 52(2), 737-783.
Siallagan, H., & Machfoedz, M. U. (2006). Mekanisme corporate governance, kualitas laba dan nilai perusahaan. Simposium Nasional Akuntansi IX. Padang, 23-26.
Solnik, B., & McLeavey, D. (2013). Global Investments. Pearson New International Edition: Pearson Higher Ed.
Solomon, J. (2007). Corporate governance and accountability. John Wiley & Sons.
Taylor, S. (2010). Financial Planning in Australia. 4th ed., Chatswood ed.
Tufano, P., & Sevick, M. (1997). Board structure and fee-setting in the US mutual fund industry. Journal of Financial Economics, 46(3), 321-355.
Wahab, E. A. A., How, J., & Verhoeven, P. (2008). Corporate governance and institutional investors: evidence from Malaysia. Asian Academy of Management Journal of Accounting and Finance, 4(2), 67-90.
Yermack, D. (1996). Higher market valuation of companies with a small board of directors. Journal of Financial Economics, 40(2), 185-211.