Pengaruh Market Timing Ability dan Stock Selection Skill terhadap Kinerja Reksa Dana Saham

(1)

Lampiran 1

Tabel 1.1

Data

Market Timing Ability

Reksa Dana Saham

Tahun 2010-2014

No Nama Reksa Dana Saham ₂₀₁₀ ₂₀₁₁Market Timing Ability₂₀₁₂ ₂₀₁₃ ₂₀₁₄

1 PANIN DANA PRIMA -0,011697 0,273965 -0,702507 -3,894074 -0,957855 2 PANIN DANA MAKSIMA -0,092050 0,746423 -1,079512 -1,986877 -3,941863 3 AXA CITRADINAMIS -0,011128 -2,020229 0,983827 0,172736 0,234005 4 ABERDEEN INDONESIA EQUITY

FUND -0,011310 -0,961738 2,110764 0,236345 -6,192196

5 BNI REKSADANA BERKEMBANG 0,024037 1,612417 0,134395 -0,904975 -2,799457 6 REKSA DANA BNP PARIBAS

INSFRASTRUKTUR PLUS 0,000126 -0,103271 0,123048 0,265273

-4,909694

7 PNB PARIBAS EKUITAS -0,017644 -0,416483 -0,622291 0,060238 -2,334531 8 PNB PARIBAS PESONA -0,013637 -0,808677 -0,386122 -0,179989 -2,723307 9 BNP PARIBAS SOLARIS -0,114062 -0,160257 -2,082606 1,458192

-3,885154

10 DANA EKUITAS ANDALAN 0,037508 -1,888710 0,295054 -0,611407 9,368348 11 DANA EKUITAS PRIMA 0,044652 0,677446 -1,430392 -0,78202 -7,478644 12 BATAVIA DANA SAHAM 0,012981 -1,663003 -0,169820 0,556394 -3,717686 13 BATAVIA DANA SAHAM

OPTIMAL -0,005135 -1,244216 -3,241131 -0,943155 -7,557370 14 CIMB-PRINCIPAL EQUITY

AGGRESSIVE -0,027763 -1,012522 0,331485 -2,883880 -5,188463 15 RENCANA CERDAS 0,011350 0,626647 2,744082 1,244663 -5,419624 16 GROW-2-PROSPER -0,013982 0,126220 -5,231964 3,569193 32,030569 17 EMCO GROWTH FUND -0,384194 0,648734 -5,027842 2,476109 -11,858010 18 FIRST STATE INDOEQUITY

VALUE SELECT FUND 0,004130 -1,825450 0,404785 0,924012 -5,681100 19 FIRST STATE INDOEQUITY

SECTORAL FUND 0,008161 -2,008849 0,028328 0,533071 -3,882454 20 FS INDOEQUITY DIVIDEND

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No Nama Reksa Dana Saham ₂₀₁₀ ₂₀₁₁Market Timing Ability₂₀₁₂ ₂₀₁₃ ₂₀₁₄

25 MANDIRI INVESTA UGM

ENDOWMENT PLUS -0,015518 0,024526 -0,964673 -0,336619 1,079850 26 MANULIFE DANA SAHAM -0,001391 -0,802011 0,161035 1,195524 -2,802677 27 MANULIFE SAHAM ANDALAN -0,003613 -1,264364 -0,525511 0,416631 -4,235824 28 PRATAMA SAHAM -0,077167 1,292361 -3,659522 -0,504198 -11,010014 29 SCHRODER DANA PRESTASI

PLUS -0,016391 -0,531903 0,128952 0,301529 -0,924886

30 SCHRODER DANA ISTIMEWA 0,034497 0,548859 -0,220884 0,220232 -4,219791 31 SIMAS DANAMAS SAHAM -0,025498 1,651106 -3,494953 -0,654765 -4,962013 32 SYAILENDRA EQUITY

(3)

Tabel 1.2

Data

Stock Selection Skill

Reksa Dana Saham

Tahun 2010-2013

No Nama Reksa Dana Saham ₂₀₁₀ ₂₀₁₁Stock Selection Skill₂₀₁₂ ₂₀₁₃ ₂₀₁₄

1 PANIN DANA PRIMA -0,019457 0,004520 -0,012169 0,014927 0,010117 2 PANIN DANA MAKSIMA 0,001433 0,010428 -0,013238 0,028344 0,009817 3 AXA CITRADINAMIS 0,039335

-0,007956

0,004989 0,000839

0,001349

4 ABERDEEN INDONESIA

EQUITY FUND -0,035622 -0,005961 0,000297 -0,003962 0,004098 5 BNI REKSADANA

BERKEMBANG -0,038597 0,002723 0,003723 0,004308 0,001107 6 REKSA DANA BNP

PARIBAS

INSFRASTRUKTUR PLUS

-0,034027 -0,000691 0,005559 0,003292 0,001279

7 PNB PARIBAS EKUITAS -0,017644 -0,416483 -0,622291 0,060238 -2,334531 8 PNB PARIBAS PESONA -0,032230 0,000094 -0,000935 0,001810 0,003201 9 BNP PARIBAS SOLARIS -0,023933 0,004937 0,000130 0,003015

0,003703

10 DANA EKUITAS

ANDALAN -0,042997 -0,005164 -0,005906 0,004784 0,043772 11 DANA EKUITAS PRIMA -0,037091 0,007468 -0,001135 0,007617 0,007054 12 BATAVIA DANA SAHAM -0,036143 -0,004452 0,000303 0,007403 0,006299 13 BATAVIA DANA SAHAM

OPTIMAL -0,032909 -0,000580 -0,000703 0,010236 0,006713 14 CIMB-PRINCIPAL EQUITY

AGGRESSIVE -0,038478 -0,005798 -0,003454 0,000597 0,006261 15 RENCANA CERDAS -0,031832 0,005434 0,009969 -0,000493 0,005832 16 GROW-2-PROSPER -0,029824 0,000609 -0,018053 0,003557 -0,001638 17 EMCO GROWTH FUND -0,022675 0,014557 -0,004263 0,022526 0,001572

18 FIRST STATE

INDOEQUITY VALUE SELECT FUND

-0,040374 -0,000220 0,003802 0,000657 0,002371

19 FIRST STATE

INDOEQUITY SECTORAL FUND

-0,036515

-0,001405

0,000191 -0,002203 0,003044

20 FS INDOEQUITY

DIVIDEND YIELD FUND -0,037936 -0,003374 0,001841 0,000363 0,002268 21 MAYBANK GMT DANA

EKUITAS -0,032823 0,003772 0,005028 0,006646 0,004947 22 LAUTANDHANA EQUITY -0,022675 0,014557 -0,004263 0,002010 0,001818 23 MNC DANA EKUITAS -0,012885 -0,009573 0,014115 -0,001373 0,002392 24 MANDIRI INVESTA

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No Nama Reksa Dana Saham ₂₀₁₀ ₂₀₁₁ Stock Selection Skill₂₀₁₂ ₂₀₁₃ ₂₀₁₄

ENDOWMENT PLUS -0,032554 -0,004916 -0,006438 0,015816 0,002057 26 MANULIFE DANA SAHAM -0,035390 -0,005154 -0,001764 -0,001373 0,001476 27 MANULIFE SAHAM ANDALAN -0,032719 -0,001726 0,000800 0,007988 0,002297 28 PRATAMA SAHAM -0,029230 0,012849 -0,007785 0,044681 0,013373 29 SCHRODER DANA PRESTASI

PLUS -0,034875 0,001086 -0,003340 0,001366 0,002799

30 SCHRODER DANA ISTIMEWA -0,033478 0,008497 -0,002507 0,006776 0,001251 31 SIMAS DANAMAS SAHAM -0,038828 0,005777 -0,016462 0,022187 0,003081 32 SYAILENDRA EQUITY

OPPORTUNITY FUND -0,027408 0,008471

0,005112

-0,005571 0,007423 33 TRIM KAPITAL -0,031965 0,018035 0,001949 -0,008636 0,003034 34 TRIM KAPITAL PLUS

-0,026968

0,022299 -0,002440 -0,001500 0,002910

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Tabel 1.3

Data Kinerja Reksa Dana Saham

Tahun 2010-2014

No Nama Reksa Dana Saham ₂₀₁₀ ₂₀₁₁ Stock Selection Skill₂₀₁₂ ₂₀₁₃ ₂₀₁₄

1 PANIN DANA PRIMA 0,624391578 0,033158387 0,138336818 -0,008082332 0,380230477 2 PANIN DANA MAKSIMA 0,916209804 0,064700219 0,083837459 -0,039401756 0,443538025 3 AXA CITRADINAMIS 0,296570176

-0,105822098

0,129962159 -0,118665799

0,681025686

4 ABERDEEN INDONESIA EQUITY

FUND 0,409475253 -0,115579591 0,017273398 -0,224014677 0,591087996 5 BNI REKSADANA BERKEMBANG 0,338098158 -0,124495446 0,119057829 -0,253585173 0,668242141 6 REKSA DANA BNP PARIBAS

INSFRASTRUKTUR PLUS 0,37555817 -0,156499307 0,213300149 -0,120128823 0,821730201 7 PNB PARIBAS EKUITAS 0,432216125 -0,055697633 0,103853336 -0,163273467 0,685422443 8 PNB PARIBAS PESONA 0,429481438 -0,035269975 0,125902828 -0,163004366 0,644087789 9 BNP PARIBAS SOLARIS 0,499705184 -0,11086274 0,328469788 -0,192853078

0,560823066

10 DANA EKUITAS ANDALAN 0,357114398 -0,112134718 0,04879391 -0,135535756 0,688564227 11 DANA EKUITAS PRIMA 0,358546785 -0,071899462 0,214401261 -0,151258467 0,548582648 12 BATAVIA DANA SAHAM 0,363334024 -0,096744466 0,052626472 -0,006868156 0,530252437 13 BATAVIA DANA SAHAM OPTIMAL 0,422944836 -0,076099462 0,174446546 0,021525288 0,50151236 14 CIMB-PRINCIPAL EQUITY

AGGRESSIVE 0,30393967 -0,09123405 -0,017999718 -0,171054392 0,654571738 15 RENCANA CERDAS 0,464834762 -0,047040687 0,023367351 -0,215270478 0,697085848 16 GROW-2-PROSPER 0,422486242 -0,137755453 0,03203956 0,325964767 -0,249494466 17 EMCO GROWTH FUND 0,259792584 0,06072494 0,073223056 -0,134673876 0,042361566 18 FIRST STATE INDOEQUITY VALUE

SELECT FUND 0,284273078 0,010497553 0,077623461 -0,182349239 0,44901601 19 FIRST STATE INDOEQUITY

SECTORAL FUND 0,37470257

-0,008315484

0,080503265 -0,172652197 0,540497448 20 FS INDOEQUITY DIVIDEND YIELD

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No Nama Reksa Dana Saham ₂₀₁₀ ₂₀₁₁ Kinerja Reksa Dana₂₀₁₂ ₂₀₁₃ ₂₀₁₄

ENDOWMENT PLUS 0,472389126 -0,142732638 -0,076403457 -0,156856876 0,660584796 26 MANULIFE DANA SAHAM 0,404872617 -0,101887986 0,146467855 -0,173657649 0,563009716 27 MANULIFE SAHAM ANDALAN 0,452305965 -0,095539397 0,101433816 -0,142932071 0,58202665 28 PRATAMA SAHAM 0,352433255 -0,150815224 -0,024699314 0,125382657 0,601577778 29 SCHRODER DANA PRESTASI

PLUS 0,402758818 -0,035968201 -0,029168989 -0,125948496 0,645307181 30 SCHRODER DANA ISTIMEWA 0,593877534 -0,080043245 0,066791955 0,016088024 0,411796598 31 SIMAS DANAMAS SAHAM 0,294219154 -0,17386646 -0,234283457 -0,024128477 0,685267277 32 SYAILENDRA EQUITY

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Lampiran 2

Tabel 2.1

Populasi Berdasarkan Kriteria Penarikan Sampel

NO NAMA PRODUK REKSA DANA SAHAM KODE KRITERIA _PENELITIANSAMPEL

1 2

1 KHARISMA KAPITAL PRIMA

KHARISMA KP

-

-2 KHARISMA FLEXI TERBATAS

710801

-

-3 PANIN DANA ULTIMA

GR003DAULSH

-

-4 PANIN DANA PRIMA

GR002PRIMASH

  Sampel 1

5 PANIN DANA MAKSIMA

91033

  Sampel 2

6 PANIN DANA TELADAN

00D88A

-

-7 AAA ENHANCED STRATEGY FUND

AAAESF

-

-8 AAA BLUE CHIP VALUE FUND 2

611702

-

-9 AVRIST EQUITY - CROSS SECTORAL

₈₇₇₈₃

-

-10 AXA MAESTROSAHAM

AXMH

-

-11 AXA CITRADINAMIS

BIIDINA

  Sampel 3

12 ABERDEEN INDONESIA EQUITY FUND

NISP

  Sampel 4

13 SENTRA DANA EKUITAS

21RSDE

-

-14 ASHMORE DANA USD EQUITY NUSANTARA

D0AS06

-

-15 ASHMORE DANA EKUITAS NUSANTARA

D0AS01

-

-16 ASHMORE DANA PROGRESIF NUSANTARA

_D0AS02

-

-17 RD BNI-AM DANA SAHAM BANDAKALA

BANDAKALA

-

-18 BNI REKSADANA BERKEMBANG

000D1B

  Sampel 5

19 BNI-AM DANA SAHAM INSPIRING EQUITY FUND

_21BNIS

-

-20 BNP PARIBAS ASTRO

8829400

-

-21 BNP PARIBAS INSFRASTRUKTUR PLUS

FOIP

  Sampel 6

22 BNP PARIBAS EKUITAS

89763

  Sampel 7

23 BNP PARIBAS PESONA

MPPESON

  Sampel 8

24 BNP PARIBAS STAR

83089

-

-25 BNP PARIBAS INSPIRA

86918

-

-26 BNP PARIBAS SOLARIS

FOSL

  Sampel 9

27 BNP PARIBAS MAXI SAHAM

82214

-

-28 DANA EKUITAS ANDALAN

_00D42C

  Sampel 10

29 BAHANA TRAILBLAZER FUND

BTBF

-

-30 DANA EKUITAS PRIMA

RDEP

  Sampel 11

31 BAHANA DANA PRIMA

BDPR

-

-32 BAHANA PRIMAVERA 99

BDPF

-

-33 BATAVIA DANA SAHAM

BAM SAH

  Sampel 12

34 BATAVIA DANA SAHAM OPTIMAL

86769

  Sampel 13

35 CIMB-PRINCIPAL INDO DOMESTIC EQUITY FUND

NIDE

-

-36 CIMB-PRINCIPAL SMART EQUITY FUND

_CPSEF

-

-37 CIMB-PRINCIPAL EQUITY AGGRESSIVE

99556

  Sampel 14

38 CIMB - PRINCIPAL EQUITY FOCUS

₆₁₇₄₃₁

-

(8)

-NO NAMA PRODUK REKSA DANA SAHAM KODE

KRITERIA

SAMPEL PENELITIAN

1 2

40 CIPTA BETA EQUITY 00D74F -

-41 RENCANA CERDAS 91017   Sampel 15

42 CIPTA PRIMA 00D74G -

-43 CORFINA GROW-2-PROSPER ROTASI STRATEGIS 88195 -

-44 GROW-2-PROSPER 86504   Sampel 16

45 DANAREKSA MAWAR EKUITAS PLUS 000D7S -

-46 DANAREKSA MAWAR KONSUMER 10 RDMK -

-47 DANAREKSA MAWAR RDMW -

-48 DANAREKSA MAWAR KOMODITAS 10 RDMI -

-49 DANAREKSA MAWAR FOKUS 10 RDMF -

-50 DANAREKSA MAWAR ROTASI SEKTOR STRATEGIS DMRSS -

-51 EMCO MANTAP 00D68D -

-52 EMCO GROWTH FUND 00D68B   Sampel 17

53 EURO PEREGRINE EQUITY 00D55C -

-54 FIRST STATE INDOEQUITY OPPORTUNITIES FUND

-USD 8835100 -

-55 FIRST STATE INDOEQUITY HIGH CONVICTION FUND 86892 -

-56 FIRST STATE INDOEQUITY VALUE SELECT FUND 85100   Sampel 18

57 FIRST STATE INDOEQUITY SECTORAL FUND 98566   Sampel 19

58 FIRST STATE INDOEQUITY PEKA FUND FIPF - - Sampel 20

59 FS INDOEQUITY DIVIDEND YIELD FUND 35600048431   Sampel 20

60 GAP EQUITY FOCUS FUND RDGAPEFF -

-61 GAP EQUITY FUND 85126 -

-62 GAP VALUE FUND 87528 -

-63 MAYBANK GMT DANA EKUITAS 85209   Sampel 21

64 HPAM SAHAM DINAMIS HPAM SAHAM D -

-65 HPAM ULTIMA EKUITAS HPAM-UL -

-66 LAUTANDHANA SAHAM MAHADI YJRDLDSM -

-67 LAUTANDHANA SAHAM LIKUID LAUTAN SL -

-68 LAUTANDHANA SAHAM INTI H7004 -

-69 LAUTANDHANA EQUITY YJRDLEP   Sampel 22

70 LAUTANDHANA EQUITY PROGRESIF 00D54N - 

71 LAUTANDHANA EQUITY AGRESIF 620105 -

-72 LAUTANDHANA SAHAM PRIMA H7003 -

-73 LAUTANDHANA EQUITY PLUS YJRDLEP -

-74 LAUTANDHANA GROWTH FUND LAUTAN GF -

-75 MEGA ASSET MAXIMA 0D10AQ -

-76 MEGA ASSET GREATER INFRASTRUCTURE 0D10AS -

(9)

-Lanjutan Tabel 2.1

NO NAMA PRODUK REKSA DANA SAHAM KODE

KRITERIA

1 2

78 RDPT MEGA SAHAM MAXIMA 0D10AI -

-79 MILLENIUM BERKEMBANG 00D61N -

-80 MILLENIUM EQUITY PRIMA PLUS 612202 -

-81 MILLENIUM EQUITY GROWTH FUND 612201 -

-82 MILLENIUM DYNAMIC EQUITY FUND 00D61B -

-83 MILLENIUM EQUITY 00D61B -

-84 MNC DANA EKUITAS BIG-EQ   Sampel 23

85 MANDIRI DYNAMIC EQUITY MDEQ -

-86 MANDIRI SAHAM DINAMIS RD MSD -

-87 MANDIRI INVESTA EQUITY DYNAMO FACTOR MIDF -

-88 MANDIRI INVESTA ATRAKTIF 35600055431   Sampel 24

89 MANDIRI ASA SEJAHTERA 87627 -

-90 MANDIRI INVESTA EKUITAS DINAMIS 83139 -

-91 MANDIRI INVESTA UGM ENDOWMENT PLUS 83303   Sampel 25

92 MANDIRI INVESTA EQUITY ASEAN 5 MIEA -

-93 MANDIRI INVESTA EQUITY MOVEMENT MIEM -

-94 MANDIRI SAHAM ATRAKTIF MSAF -

-95 MANULIFE DANA SAHAM UTAMA MLDS -

-96 MANULIFE SAHAM STRATEGI UNGGULAN MLSU -

-97 MANULIFE SAHAM SMC PLUS 87593 -

-98 MANULIFE INSTITUTIONAL EQUITY FUND 83758 -

-99 MANULIFE DANA SAHAM 92882   Sampel 26

100 MANULIFE SAHAM ANDALAN 35600022433   Sampel 27

101 MANULIFE GREATER INDONESIA FUND 8458200 -

-102 NARADA SAHAM INDONESIA 87767 -

-103 NIKKO INDONESIA EQUITY FUND RB001INDEQSH -

-104 OSO SUSTAINABILITY FUND OSUS -

-105 PASIFIC SAHAM SYARIAH PACIFIC SY -

-106 PACIFIC EQUITY GROWTH FUND 21PEGF -

-107 PACIFIC EQUITY FUND PACIFIC EQ -

-108 PACIFIC EQUITY OPTIMUM FUND 21PEOF -

-109 PACIFIC EQUITY PROGRESIF FUND 21PEPF -

-110 PG SAHAM DINAMIS PG003SDSH -

-111 PNM SAHAM AGRESIF 84962 -

-112 PHILLIP EQUITY KKRDPE -

(10)

-NO NAMA PRODUK REKSA DANA SAHAM KODE

KRITERIA

1 2

114 PRATAMA DANA INVESTASI SAHAM

PRAM-INV

-

-115 PRATAMA INVESTA MANDIRI SAHAM

88104

-

-116 PRATAMA EQUITY

00D78A

-

-117 DANA PRATAMA EKUITAS

94532

-

-118 PRATAMA SAHAM

99424

  Sampel 28

119 PRATAMA DANA OPTIMUM SAHAM

88203

-

-120 PRATAMA DANA ULTIMA SAHAM

88807

-

-121 PRATAMA DANA DINAMIS SAHAM

88856

-

-122 PRATAMA DANA MAKSIMUM SAHAM

88831

-

-123 PRATAMA DANA PRIMA SAHAM

PRAM-EQ

-

-124 PROSPERA BUMN GROWTH FUND

88815

-

-125 PROSPERA BIJAK

84343

-

-126 PROSPERA DANA 00D51E -

-127 QUANT INVESTA SAHAM RDQIS -

-128 RHB OSK ALPHA SECTOR ROTATION 0082982 -

-129 RHB OSK PRIME EQUITY FUND D0SK02 -

-130 SUCORINVEST MAXI FUND 342349962 -

-131 SUCORINVEST EQUITY FUND 0083154 -

-132 SAM DANA CERDAS 0362257943 -

-133 SAM INDONESIAN EQUITY FUND 0084665 -

-134 SCHRODER 90 PLUS EQUITY FUND SPEF -

-135 SCHRODER DANA PRESTASI DINAMIS SDPD -

-136 SCHRODER DANA PRESTASI PLUS 0090829   Sampel 29

137 SCHRODER DANA ISTIMEWA 006600829471   Sampel 30

138 SCHRODER INDO EQUITY FUND SIEF - 

139 SCHRODER DANA PRESTASI SDPT - 

140 SEMESTA DANA SAHAM 0088534

-141 SIMAS SYARIAH UNGGULAN 21SMUN

-142 SIMAS SAHAM UNGGULAN 000D8R

-143 SIMAS SAHAM BERTUMBUH 000D8T

-144 SIMAS DANAMAS SAHAM 000D8O   Sampel 31

145 SYAILENDRA MARKET LEADER FUND SYAIL MLF -

-146 SYAILENDRA EQUITY OPPORTUNITY FUND 0085290   Sampel 32

147 SYAILENDRA DANA EKUITAS PLUS

621306

-

-148 SYAILENDRA DANA EKUITAS SEJAHTERA 356118189 -

-149 SYAILENDRA EQUITY ALPHA FUND 621303 -

(11)

-156 TRIM KAPITAL PLUS 000D2L   Sampel 34

157 TRAM CONSUMSITION PLUS 035600246432 -

-158 VALBURY EQUITY I 0084699 -

-159 ARCHIPELAGO EQUITY GROWTH -

-160 REKSA DANA SAHAM EASTSPRING INVESTMENT

ALPHA NAVIGATOR ESIAN -

-161 REKSADANA EASTSPRING INVESTMENTS VALUE

DISCOVERY ESIVD -

-162 PRIMER EKUITAS MAKRO PLUS 0088245 -

-163 RD INDOSURYA EQUITY FUND INDOEQ - 

(12)

-Data Hasil Pengolahan SPSS

1. Asumsi Klasik

(13)

One-Sample Kolmogorov-Smirnov Test

Unstandardized Residual

N 169

Normal Parametersa,b Mean ,0000000

Std. Deviation ,21240122

Most Extreme Differences

Absolute ,092

Positive ,092

Negative -,092

Kolmogorov-Smirnov Z 1,191

Asymp. Sig. (2-tailed) ,117

(14)

Correlations

Correlation Coefficient 1,000 ,092 -,047

Sig. (2-tailed) . ,235 ,541

N 169 169 169

MarketTimingAbility

Correlation Coefficient ,092 1,000 -,053

Sig. (2-tailed) ,235 . ,490

N 169 169 169

ABS_RES

Correlation Coefficient -,047 -,053 1,000

Sig. (2-tailed) ,541 ,490 .

N 169 169 169

c. Uji Multikolinearitas

Coefficientsa

Model Unstandardized Coefficients Standardized

Coefficients

t Sig. Collinearity Statistics

B Std. Error Beta Tolerance VIF

(Constant) ,086 ,017 5,185 ,000

MarketTimingAbility -,011 ,004 -,218 -2,878 ,005 ,998 1,002

StockSelectionSkill -,029 1,311 -,002 -,022 ,983 ,998 1,002

(15)

d. Uji Autokorelasi

Runs Test

Unstandardized Residual

Test Valuea -,01227

Cases < Test Value 84

Cases >= Test Value 85

Total Cases 169

Number of Runs 74

Z -1,774

Asymp. Sig. (2-tailed) ,076

a. Median

2. Analisis Statistik Deskriptif

Descriptive Statistics

N Minimum Maximum Mean Std. Deviation

StockSelectionSkill 169 -,06 ,05 -,0012 ,01258

MarketTimingAbility 169 -26,00 34,14 -,3173 4,20914

KinerjaReksaDanaSaham 169 -1,18 ,97 ,0894 ,21765

Valid N (listwise) 169

3. Analisis Regresi Linear Berganda

a. Uji F

ANOVAa

Model Sum of Squares df Mean Square F Sig.

1

Regression ,379 2 ,190 4,152 ,017b

Residual 7,579 166 ,046

Total 7,958 168

a. Dependent Variable: KinerjaReksaDanaSaham

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Coefficientsa

Model Unstandardized Coefficients Standardized

Coefficients

t Sig.

B Std. Error Beta

1

(Constant) ,086 ,017 5,185 ,000

MarketTimingAbility -,011 ,004 -,218 -2,878 ,005

StockSelectionSkill -,029 1,311 -,002 -,022 ,983

Pengaruh Market Timing Ability dan Stock Selection Skill terhadap Kinerja Reksa Dana Saham

Lampiran 1

Tabel 1.1

Data

Market Timing Ability

Reksa Dana Saham

Tahun 2010-2014

-4,909694

-3,885154

Tabel 1.2

Data

Stock Selection Skill

Reksa Dana Saham

Tahun 2010-2013

-0,007956

0,001349

0,003703

-0,001405

0,005112

-0,026968

Tabel 1.3

Data Kinerja Reksa Dana Saham

Tahun 2010-2014

-0,105822098

0,681025686

0,560823066

-0,008315484

Lampiran 2

Tabel 2.1

Populasi Berdasarkan Kriteria Penarikan Sampel

KHARISMA KP

710801

GR003DAULSH

GR002PRIMASH

91033

00D88A

AAAESF

611702

87783

AXMH

BIIDINA

NISP

21RSDE

D0AS06

D0AS01

D0AS02

BANDAKALA

000D1B

21BNIS

8829400

FOIP

89763

MPPESON

83089

86918

FOSL

82214

00D42C

BTBF

RDEP

BDPR

BDPF

BAM SAH

86769

NIDE

CPSEF

99556

617431

-Lanjutan Tabel 2.1

PRAM-INV

88104

00D78A

94532

99424

88203

88807

88856

88831

PRAM-EQ

88815

₈₇₇₈₃

_D0AS02

_21BNIS

_00D42C

_CPSEF

₆₁₇₄₃₁