Faktor-faktor yang mempengaruhi kebijakan dividen pada perusahan publik di Indonesia

Immanuela, Intan (2006) Faktor-faktor yang mempengaruhi kebijakan dividen pada perusahan publik di Indonesia. Widya Warta: Jurnal Ilmiah Universitas Katolik Widya Mandala Madiun, XXIX (01). pp. 35-46. ISSN 0854-1981

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Abstract

There are many factors influencing management in deciding its dividend policies. The purpose of this study is to examine factors that influence dividend policies at the public company in Indonesia and dividend payout ratio as a proxy. This research used 93 public companies listed at the Jakarta stock exchange, for the period of 2000-2002. The multiple regression analysis was used to test the hypothesis. This study found that: (1) cash position gives a positive and significant influence on dividend payout ratio, (2) debt to equity ratio gives a negative and significant influence on dividend payout ratio, (3) firm size gives a positive and significant influence on dividend payout ratio, (4) institutional shareholder gives a negative and significant influence on the dividend payout ratio, (5) earning variability does not give a significant influence on dividend payout ratio, (6) growth gives a negative and significant influence on dividend payout ratio, (7) return on assets does not give a significant influence dividend payout ratio, and (8) free cash flow gives a positive and significant influence on dividend payout ratio.

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