scholarly journals The effect of financial performance, IOS, and firm size on cash holdings: the role of dividend policy as moderating variable

2019 ◽  
Vol 2 (2) ◽  
pp. 96
Author(s):  
Woen Cliff Wibowo ◽  
Sugeng Wahyudi
Keyword(s):  
Financial Performance ◽  
Firm Size ◽  
Dividend Policy ◽  
Capital Expenditure ◽  
Cash Holdings ◽  
Cash Holding ◽  
Liquid Asset ◽  
Negative Effect ◽  
Positive Effect

This study aims to determine and analyze the effect of financial performance (profitability, leverage, capital expenditure, liquid asset substitute), IOS, and company size on cash holding by using dividend policy as a moderating variable. The number of samples of this study was 108 observations of non-financial companies in the LQ 45 Index for the period  of 2011-2016. The results of moderated regression analysis (MRA) shows that profitability has a positive effect on cash holding, while leverage, liquid asset substitute, IOS, and firm size have negative effect on cash holdings. The results of this study also show that dividend policy can be a moderating variable which weakens the positive effect of profitability on cash holding and strengthens the negative effect of capital expenditure, but the dividend policy is not able to moderate the influence of leverage on cash holding. As a result, the companies were able to make large dividend payouts to reduce the excessive amount of cash holding that managers often abused for their own benefits and increasingly prospering investors with a given dividend.

PENGARUH BELANJA MODAL DAN ALOKASI DANA DESA TERHADAP KEMANDIRIAN DAN KINERJA KEUANGAN DESA DI KABUPATEN JEMBER

BISMA ◽  
2018 ◽  
Vol 12 (1) ◽  
pp. 37
Author(s):  
Dinna Tri Yulihantini ◽  
Hari Sukarno ◽  
Siti Maria Wardayati
Keyword(s):  
Financial Performance ◽  
Capital Expenditure ◽  
Secondary Data ◽  
Government Budget ◽  
Financial Independence ◽  
Fund Allocation ◽  
Negative Effect ◽  
Effectiveness And Efficiency ◽  
Village Government ◽  
Positive Effect

financial performance in Jember Regency. In specific, this study analyzes the influence of capital expenditure and Village Fund Allocation (ADD), as the components of Village Government Budget (APBDes), on village financial performance in terms of its effectiveness and efficiency. This study used secondary data in the form of Realization Reports of APBDes that were collected from the 53 villages for the period of 2015-2016. Data were analyzed using path analysis. Results of the study indicate that capital expenditure and ADD have no influences on the independence of village financial performance, capital expenditure has a negative effect on the effectiveness of village financial performance, while ADD and the independence of village financial performance have no significant effects on the effectiveness of village financial performance. In terms of efficiency, capital expenditure has a negative effect on village financial performance, while ADD has a positive effect on village financial performance. Village financial independence has no effect on the efficiency of village financial performance. Keywords: Capital Expenditure, Village Fund Allocation, Village Financial Independence, Effectiveness and Efficiency of Village Financial Performance.

scholarly journals Women on board, firm size and cash holding: Empirical evidence from the developing country

2021 ◽  
Vol 10 (3) ◽  
pp. 177-185
Author(s):  
Musviyanti Musviyanti ◽  
Yana Ulfah ◽  
Yanzil Azizil Yudaruddin
Keyword(s):  
Firm Size ◽  
Role Theory ◽  
Cash Holdings ◽  
Cash Holding ◽  
Corporate Boards ◽  
Corporate Board ◽  
Women On Boards ◽  
Negative Effect ◽  
And Gender ◽  
The Relationship

Effective corporate board supervision might be a viable solution to the agency problem of excessive cash holdings (Fama & Jensen, 1983). Thus, this study aims to examine how the participation of women on corporate boards affects cash management. The study looks at how the size of a company affects the relationship between female board members and cash holdings, especially at high and low cash holding levels. A total of 373 publicly-listed companies in seven industries from 2008 to 2017 were chosen as research samples using purposeful sampling. Furthermore, static panel data processing was also used. The results showed that women on boards had a favorable and important impact. This study discovered a positive and significant WOB (women on board) coefficient, implying that companies with women on board had relatively more cash on hand. This result supports the trade-off and gender role theory predictions. However, the relationship between firm size and cash keeping is negative, but insignificant for all models. Different impacts were discovered by separating a sub-sample of companies with high and low cash holding rates. Women on the board of companies with large cash holding have a significant negative effect on cash holding. The partnership between women on boards and cash holding yielded negligible results. These findings have implications for regulators and corporate decision-makers in terms of board gender equality.

scholarly journals Pengaruh Tatakelola Terhadap Nilai Perusahaan Perbankan: ROA Dan NPL Sebagai Mediasi

2021 ◽  
Vol 26 (2) ◽  
pp. 280
Author(s):  
Lisa Dentika, Syamsul Ridjal, La Ode Sumail
Keyword(s):  
Financial Performance ◽  
Firm Value ◽  
Sampling Technique ◽  
Financial Statements ◽  
Data Sources ◽  
Negative Effect ◽  
Bank Governance ◽  
Positive Effect

This study attempts to investigate the effect of governance on firm value mediated by financial performance and risk of banking firms on the IDX. The sampling technique uses 46 saturated samples and data sources from the 2017-2020 financial statements so that the number of observations is 184. This study finds that bank governance can encourage an increase in firm value. Governance has a positive effect on ROA but has a negative effect on NPL. ROA has a positive effect on PBV and NPL has a negative effect on PBV. Governance has a positive and significant effect on PBV mediated by ROA and governance has a negative and significant effect on PBV mediated by NPL. Therefore, the role of ROA and NPL as partial mediation (partial mediation).

scholarly journals Dividend Policy and Financial Performance- A Study of Quoted Manufacturing Firms in Nigeria and Kenya

2019 ◽  
pp. 1-8
Author(s):  
Ayodeji Temitope Ajibade ◽  
Motunronke Bintu Amuda ◽  
Oluwatoyosi Tolulope Olurin
Keyword(s):  
Financial Performance ◽  
Dividend Policy ◽  
Least Square ◽  
Manufacturing Companies ◽  
Significance Level ◽  
Wealth Maximization ◽  
Ordinary Least Square ◽  
Common Effect ◽  
Negative Effect ◽  
Positive Effect

One of the indicators of shareholders’ wealth maximization is dividend policy (DP) consistency, proxied by dividend per share (DPS) with moderating variable of company size and financial performance measured by the return on asset (ROA). The purpose of this study is to demonstrate the significance level of changes in ROA based on DPS comparing manufacturing companies in Nigeria and Kenya. The data used in this study is the use of panel data method and Convenience Sampling is applied and data analyzed by comparing the regression model, Ordinary Least Square (common effect). The results indicate that there is a significant positive effect on ROA in Kenya manufacturing companies, while Nigeria’s records insignificant negative effect as revealed by the t-statistics due to DP. These undeveloped economies’ relevant sector for growth is the manufacturing and is the focus of this study. The paper concludes by recommending that Kenya and Nigeria manufacturing companies should focus on DP.

scholarly journals PENGARUH UKURAN PEMERINTAH DAERAH, PENDAPATAN ASLI DAERAH DAN BELANJA MODAL TERHADAP KINERJA KEUANGAN PEMERINTAH DAERAH

2019 ◽  
Vol 8 (8) ◽  
pp. 4759
Author(s):  
Ni Made Diah Permata Sari ◽  
I Ketut Mustanda
Keyword(s):  
Data Analysis ◽  
Local Government ◽  
Financial Performance ◽  
Local Governments ◽  
Capital Expenditure ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Negative Effect ◽  
The Government ◽  
Positive Effect

This study aims to examine and analyze the effect of local government size, regional original income and capital expenditure on the financial performance of local governments in Badung Regency for the period 2013 - 2017. Data analysis techniques used are multiple linear regression analysis. The results of data analysis show that the size of the local government has a negative effect on the financial performance of local governments. This shows that the size of the local government that is proxied by the total assets owned by the local government has not contributed to the financial performance of the local government. Original regional income has a positive effect on the financial performance of local governments. This shows that the higher the local revenue generated, the higher the financial performance of the local government. And capital expenditure has a positive effect on the financial performance of local governments. This shows that the higher capital expenditure made by the government, the higher the financial performance of local governments. Keywords: size, PAD, capital expenditure, financial performance

scholarly journals PENGARUH PENDAPATAN ASLI DAERAH, DANA PERIMBANGAN, DANA KEISTIMEWAAN DAN BELANJA MODAL TERHADAP KINERJA KEUANGAN PEMERINTAH DAERAH

2020 ◽  
Vol 28 (1) ◽  
pp. 89-105
Author(s):  
Nanda Dipa Prastiwi ◽  
Andri Waskita Aji
Keyword(s):  
Financial Performance ◽  
Capital Expenditure ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
City Government ◽  
City Governments ◽  
Special Fund ◽  
Negative Effect ◽  
Positive Effect ◽  
Special Region

The purpose of this study was to determine: (1) the effect of regional own-source revenue (PAD) on the financial performance of district / city governments in the Special Region of Yogyakarta (DIY), (2) the effect of balancing funds on the financial performance of district / city governments in the Special Region provinces Yogyakarta (DIY) and (3) the effect of privileged funds on the financial performance of district / city governments in the Special Region of Yogyakarta (DIY), (4) the effect of capital expenditure on the financial performance of district / city governments in the province of Special Region of Yogyakarta (DIY). This report uses the Realization of the 2013-2018 Regional Revenue and Expenditure Budget (APBD), which is published through the website of the regency / city Central Statistics Agency (BPS). Government financial performance is measured by the ratio of regional financial independence. The sample used is 30 data. To test the effect of regional own-source revenue, balance funds, privileged funds and capital expenditure on government financial performance using multiple linear regression analysis. The results of the study show that: (1) regional own-source revenue (PAD) has a positive effect on financial performance, (2) balancing funds has a negative effect and (3) the special fund does not have a negative effect on the financial performance of the district / city government in the Yogyakarta Special Region (DIY), (4) capital expenditure does not have a positive effect on the financial performance of the district / city government in the province of the Special Region of Yogyakarta (DIY).

scholarly journals KEPEMILIKAN INSTITUSIONAL, KEPEMILIKAN MANAJERIAL, DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN

2019 ◽  
Vol 11 (1) ◽  
pp. 41-47
Author(s):  
Dewi Rahayu ◽  
Ellen Rusliati
Keyword(s):  
Firm Size ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Significant Positive Effect ◽  
Manufacturing Companies ◽  
Panel Data Regression ◽  
Negative Effect ◽  
Positive Effect

The aim of this study to determine the effect of institutional ownership, managerial ownership, firm size, to dividend policy simultaneously and partially. The population of this study are manufacturing companies in the consumer goods industry sector listed in Indonesia Stock Exchange of 2008-2017, the sample amounted 6 companies. The method used in this study are descriptive and verificative using panel data regression analysis. The results showed that the simultaneously institutional ownership, managerial ownership and firm size has significant effect on dividend policy with contribution of effect equal to 39.62%. The partially, institutional ownership has a significant positive effect on dividend policy, managerial ownership has a significant negative effect on dividend policy, firm size has a significant positive effect on dividend policy. The effect contribution dominant of independent variables is institutional ownership equal to 29.2%, managerial ownership equal to 10% and firm size equal to 0.4%.

scholarly journals Pengaruh Biaya Politik, Cash Holding, dan Kualitas Auditor terhadap Income Smoothing

2020 ◽  
Vol 4 (1) ◽  
pp. 113
Author(s):  
Fitriyana Rahmadani ◽  
Anita Wijayanti ◽  
Rosa Nikmatul Fajri
Keyword(s):  
Firm Size ◽  
Income Tax ◽  
Income Smoothing ◽  
Cash Holding ◽  
Independent Variables ◽  
Industry Sector ◽  
Political Costs ◽  
Auditor Quality ◽  
Negative Effect ◽  
Positive Effect

This paper examines the determinants of income smoothing focusing on consumer goods industry sector of BEI of 2014 to 2018 for 24 firms, including 120 observations. The independent variables used are political costs, auditor quality and cash holding. Political costs are proxied by variables of firm size, income tax, and number of employees. Test data analysis using logistic regression. The findings show that firm size indicated negative effect on income smoothing, income tax and number of employees have no effect on income smoothing. Cash holding indicated positive effect on income smoothing, auditor quality indicated negative affect on income smoothing

scholarly journals Corporate Governance, Capital Expenditure Dan Cash Holdings

2019 ◽  
Vol 24 (1) ◽  
pp. 1
Author(s):  
Yanti, Liana Susanto, Henny Wirianata, Viriany
Keyword(s):  
Corporate Governance ◽  
Capital Expenditure ◽  
Stock Exchange ◽  
Cash Holdings ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Financial Statements ◽  
Cash Holding ◽  
Manufacturing Companies ◽  
Negative Effect

This study aims to obtain empirical evidence about the effect of Corporate Governance and Capital Expenditure on Cash Holding. This study use secondary data from financial statements of manufacturing companies listed on the Indonesia Stock Exchange in 2014-2016. The structure of Corporate Governance is measured using independent commissioners, board of commissioners, and institutional ownership. The analytical method used in this study is multiple regression analysis which is processed with the E-Views program. The results of this study indicate that independent commissioners, board size, and institutional ownership partially have no significant effect on cash holding. While Capital Expenditure has a significant and negative effect on cash holding.

scholarly journals The Intervening Effect of the Dividend Policy on Financial Performance and Firm Value in Large Indonesian Firms

2020 ◽  
Vol 11 (4) ◽  
pp. 408
Author(s):  
Perdana Wahyu Santosa ◽  
Ovinda Aprilia ◽  
Martua Eliakim Tambunan
Keyword(s):  
Financial Performance ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Emerging Market ◽  
Sampling Technique ◽  
Activity Effect ◽  
Negative Effect ◽  
Research Criteria ◽  
Positive Effect

This study aims to examine the relationship between financial performance with firm value with dividend policy as an intervening variable in an emerging market, Indonesia. The samples in this study are large firms listed on the Indonesia Stock Exchange (IDX). The sampling method uses a purposive sampling technique according to research criteria, especially members of the LQ45 index. The study used the data analysis by using multiple regression analysis, path analysis, and Sobel test to find the direct, indirect, and intervening effect and significance in this study. The results indicated that profitability and activity have a positive effect, leverage has a negative effect, but liquidity has no effect on the value of the firms. The subsequent analysis shows that profitability and leverage do not affect dividend policy, liquidity has a negative effect, while activity has a positive effect, significantly. Dividend policy has a positive effect on firm value. Liquidity and leverage do not affect the firm value, but profitability and activity effect positively on the firm value through intervening dividend policy. Conclusions: in general, financial performance indicates an influence on firm value and less effect on dividend policy. As an intervening variable, dividend policy weakens the effect of financial performance on firm value.

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