Understanding Defensive Stocks with Company Fundamentals and Dividend Policy Variables as Moderation

The purpose of this study was to determine the effect of Return on Equity, Firm Size, Debt Equity Ratio and Price Earning Ratio on return defensive stocks with Dividend Policy as Variable Moderation in Manufacturing Companies. The study population was manufacturing sector companies listed on the Indonesia Stock Exchange from 2015 to 2018. There were 61 companies sampled using purposive sampling techniques. The analytical method uses multiple linear analysis and moderated Regression analysis. The results showed the Firm Size variable had a significant positive effect and the DER variable had no significant positive effect while the ROE and PER variables had no significant negative effect on return defensive stocks. The MRA test states that the Dividend Payout Ratio variable strengthens the effect of Firm Size on return defensive stocks while the ROE, DER and PER variables are weakened by the effect on return defensive stocks by dividend policy. Future studies are expected to use other variables that might increase or decrease stock returns.

Download Full-text

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

Jurnal Riset Akuntansi Kontemporer - Vol 13 No 2 (2021): October Edition ◽

10.23969/jrak.v11i1.1870 ◽

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%.

Download Full-text

Factors Influencing Income Smoothing Practices With Firm Size Moderation

Jurnal Akuntansi ◽

10.24912/ja.v24i2.695 ◽

2020 ◽

Vol 24 (2) ◽

pp. 250

Author(s):

Henryanto Wijaya, Mauren, Hadi Cahyadi

Keyword(s):

Firm Size ◽

Dividend Policy ◽

Stock Exchange ◽

Income Smoothing ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Financial Leverage ◽

Factors Influencing ◽

Negative Effect ◽

Positive Effect

The purpose of this study is to determine the effect of profitability, financial leverage, and dividend policy on income smoothing in manufacturing companies registered on the Indonesia Stock Exchange in 2016-2018 with firm size as a moderating variable. This study used 38 manufacturing companies as a sample in this study and analysis of logistic regression. The results of this study indicated that profitability has a significant negative effect on income smoothing; firm size has a significant positive effect on income smoothing. In contrast, financial leverage and dividend policy have an insignificant effect on income smoothing. Firm size weakens profitability and the effect of dividend policy on income smoothing while firm size does not moderate financial leverage's effect on income smoothing.

Download Full-text

Analisis Determinan Profitabilitas Perusahaan Manufaktur pada 2014-2019

Journal of Business and Banking ◽

10.14414/jbb.v10i2.2486 ◽

2021 ◽

Vol 10 (2) ◽

pp. 291

Author(s):

Audi Gracia Wasisto ◽

Nora Amelda Rizal

Keyword(s):

Firm Size ◽

Stock Exchange ◽

Future Research ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Working Capital ◽

Panel Data Regression ◽

Negative Effect ◽

Operational Activities ◽

Positive Effect

Profitability is very important for a company to carry out their operational activities because in general they cannot not survive without the ability to generate profits. This study aims to determine the effect of working capital, firm size, company efficiency, liquidity, and leverage on profitability in manufacturing companies listed in the Indonesia Stock Exchange 2014-2019. This research used purposive sampling with 108 sample data. The data were analyzed using panel data regression using eviews 11 software. It showes that working capital, firm size, company efficiency, liquidity, and leverage simultaneously have a significant effect on profitability. Partially, working capital has a significant positive effect on profitability. Firm size has no significant positive effect on profitability (ROE), but it has a significant positive effect on profitability (EPS). Company efficiency has a significant positive effect on profitability. Liquidity has no significant positive effect on profitability (ROE) and has no negative effect on profitability (EPS). Leverage DER and LDAR have no significant negative effect on profitability. Therefore, this research can be a reference for future research to analyze the determininant of profitability.

Download Full-text

THE DETERMINANTS OF PROFIT CHANGE IN MANUFACTURING COMPANIES AT THE INDONESIAN STOCK EXCHANGE

Review of Management and Entrepreneurship ◽

10.37715/rme.v2i1.950 ◽

2019 ◽

Vol 2 (1) ◽

pp. 17-30

Author(s):

Ariwan Joko Nusbantoro ◽

Elok Sri Utami ◽

Nori Alfiani Sanjaya

Keyword(s):

Firm Size ◽

Stock Exchange ◽

Manufacturing Sector ◽

Linear Regression Analysis ◽

Sample Selection ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Working Capital ◽

Negative Effect ◽

Positive Effect

This study examines the determinants of profit change of companies in the manufacturing sector listed at the Indonesia Stock Exchange. The independent variables include working capital ratio, time interest earned ratio, gross profit ratio, and firm size. The data are extracted from the companies’ financial statements covering a period from 2012 to 2015. A total of 83 companies met the sample selection criteria. Results using multiple linear regression analysis show that working capital ratio and gross profit ratio both have significant negative effect on profit change, the ratio of interest payment has no positive effect on profit change, and firm size has no significant effect on profit change.

Download Full-text

PENGARUH PROFITABILITAS, LIKUIDITAS, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN MELALUI KEBIJAKAN DIVIDEN

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2019.v08.i05.p25 ◽

2019 ◽

Vol 8 (5) ◽

pp. 3275

Author(s):

Ni Komang Budi Astuti ◽

I Putu Yadnya

Keyword(s):

Firm Size ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Test Analysis ◽

Result Show ◽

The Impact ◽

Positive Effect

This research aims to analyze the impact of profitability, liquidity and firm size to firm value through dividend policy as intervening on manufacturing companies listed on Indonesian Stock Exchange (IDX) which paid dividend for the period 2013 to 2017. The population on this study amounted 6 companies. The sampling method used in this study is cencus. Data were analyzed by path analysis technique and Sobel test. Analysis result found that profitability has a significant positive effect on dividend policy, while liquidity and firm size have negatively significant effect. On the second model, the result show that profitability and dividend policy have a significant positive effect on firm value, while liquidity and firm size have no significant effect. Based on Sobel test result found that dividend policy was able to mediate the effect of profitability on firm value, but unable to mediate the effect of liquidity and firm size effect on firm value. Keywords: firm value, dividend policy, profitability, likuidity, firm size

Download Full-text

Pengaruh Return On Asset (ROA), Debt To Total Asset (DTA), Cash Ratio, Growth, dan Firm Size Terhadap Kebijakan Dividen

INOBIS Jurnal Inovasi Bisnis dan Manajemen Indonesia ◽

10.31842/jurnal-inobis.v1i1.15 ◽

2017 ◽

Vol 1 (1) ◽

pp. 32-43

Author(s):

Ronny Malavia Mardani

Keyword(s):

Key Words ◽

Firm Size ◽

Dividend Policy ◽

Stock Exchange ◽

Total Asset ◽

Significant Positive Effect ◽

Return On Assets ◽

Significant Negative Effect ◽

Negative Effect ◽

Positive Effect

The purpose of this study is to examine the effect of Return on Assets (ROA), Debt to Total Assets (DTA), Cash Ratio, Growth, and Firm Sise on Dividend Policy. The population in this study is a manufacturing company listed on the Indonesia Stock Exchange period 2013-2016. While the sample of the study was determined by using purposive sampling, which obtained a number of 25 companies that qualify as research samples.Based on the analysis results can be seen that the Return on Asset (ROA) have a significant positive effect on dividend policy, Debt to Total Asset (DTA) and Cash Ratio (CR) have no significant positive effect on dividend policy. While Growth and Firm Size have no significant negative effect on dividend policy. Key Words: Return on Assets (ROA), Debt to Total Assets (DTA), Cash Ratio, Growth, Firm Size, Dividend Payout Ratio (DPR)

Download Full-text

PENGARUH LEVERAGE DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2019.v08.i05.p16 ◽

2019 ◽

Vol 8 (5) ◽

pp. 3028

Author(s):

Ni Putu Ira Kartika Dewi ◽

Nyoman Abundanti

Keyword(s):

Firm Size ◽

Consumer Goods ◽

Firm Value ◽

Stock Exchange ◽

Sampling Technique ◽

Significant Positive Effect ◽

Analysis Technique ◽

Negative Effect ◽

Consumer Goods Industry ◽

Positive Effect

The purpose of this study was to determine the effect of leverage and firm size on firm value with profitability as intervening variable on consumer goods industry in the Indonesian Stock Exchange. The population in this study are companies in the consumer goods industry Indonesian Stock Exchange amounted to 46 companies 2014-2017. Sampling technique used was purposive sampling, so that the final sample that is obtained is 21, a company incorporated in consumer goods industry in Indonesian Stock Exchange 2014-2017. Data analysis technique used in this research is path analysis and Sobel test. The result shows that leverage has significant negative effect on profitability and firm size has significant positive effect on profitability. Leverage, firm size, and profitability have significant positive effect on firm value. Profitability mediates the effect of leverage on firm value significantly and profitability also mediates the effect of firm size on firm value significantly.

Download Full-text

Capital Structure Evaluation Based Company Sizes And Profitability

JURNAL AKUNTANSI DAN PAJAK ◽

10.29040/jap.v20i2.765 ◽

2020 ◽

Vol 20 (2) ◽

Author(s):

Aprih Santosa ◽

Sri Yuni Widowati ◽

Emaya Kurniawati

Keyword(s):

Capital Structure ◽

Firm Size ◽

Stock Exchange ◽

Manufacturing Sector ◽

Linear Regression Analysis ◽

Secondary Data ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Structure Evaluation ◽

Positive Effect

The purpose of this study is to evaluate the effect of : (1) Firm Size on Profitability (ROA). (2) Firm Size on Capital Structure (DER). (3) Profitability (ROA) on Capital Structure (DER) in the Manufacturing Sector Automotive Companies and Components on the IDX. The data used are secondary data using a sample of 13 automotive sector manufacturing companies and components listed on the Indonesia Stock Exchange in 2016-2018. Sampling was done using a sensus method. This research uses a quantitative approach and the analysis technique used is multiple linear regression analysis (path analysis. The results of this study are: (1) FirmSize significantly has a positive effect on profitability (ROA). (2) Firm Size significantly has a positive effect on capital structure (DER). (3) Profitability (ROA) significantly has a positive effect on capital structure (DER).

Download Full-text

PENGARUH LEVERAGE, INTENSITAS ASET TETAP, DAN UKURAN PERUSAHAAN TERHADAP AGRESIVITAS PAJAK

Kompak :Jurnal Ilmiah Komputerisasi Akuntansi ◽

10.51903/kompak.v14i2.573 ◽

2021 ◽

Vol 14 (2) ◽

pp. 417-427

Author(s):

Eka Ridho Nur Rochmah ◽

Rachmawati Meita Oktaviani

Keyword(s):

Firm Size ◽

Stock Exchange ◽

Sampling Technique ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Tax Aggressiveness ◽

Panel Data Regression ◽

Data Regression ◽

Fixed Assets ◽

Positive Effect

This study aims to determine the effect of leverage, fixed asset intensity, and firm size on tax aggressiveness. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2017-2020 period. The sample of this research was taken using non-probability sampling method with purposive sampling technique and certain criteria. The method used in this research is panel data regression analysis. The results of this study indicate that leverage has a significant positive effect on tax aggressiveness, while the intensity of fixed assets has no effect on tax aggressiveness, and firm size has a significant positive effect on tax aggressiveness. The implications of the results of this study provide input to companies in making decisions to minimize the tax burden paid so that companies can be more aggressive towards taxes.

Download Full-text

PENGARUH KEBIJAKAN HUTANG, KEBIJAKAN DIVIDEN, PROFITABILITAS, PERTUMBUHAN PENJUALAN DAN KESEMPATAN INVESTASI TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI

Jurnal Magister Akuntansi Trisakti ◽

10.25105/jmat.v6i2.5558 ◽

2019 ◽

Vol 6 (2) ◽

pp. 201

Author(s):

Vivi Apriliyanti ◽

Hermi Hermi ◽

Vinola Herawaty

Keyword(s):

Firm Size ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Sales Growth ◽

Manufacturing Companies ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

Debt Policy ◽

Positive Effect

AbstractThe purpose of this study was to examine the influence of debt policy, dividend policy,profitability, sales growth and investment opportunity set on firm value with firm size as moderating variable in the manufacturing companies on the Indonesia Stock Exchange (IDX). The population used in this study is a company that is listed on the Indonesia Stock Exchange. The sample used in this study 128 companies with an observation period of 3 (three) years from 2016 to 2018. The method of determining the sample used in this study was the purposive sampling method. The data processing method used in this study is the causality test with multiple regression analysis using SPSS version 23. The independent variables in this study are Debt Policy, Dividend Policy, Profitability, Sales Growth and Investment Opportunity. The moderating variable in this study is Company Size. The dependent variable in this study is firm value. The results of this study indicate that Debt Policy has a positive effect on Firm’s Value, Dividend Policy does not effect on Firm Value, Profitability does not have a positive effect on Firm’s Value, Sales Growth does not effect on Firm’s Value, Investment Opportunity Set does not effect on Firm’s Value, Firm Size does not have a positive effect on Firm’s Value, Firm Size does not strengthen the realtionship between Debt Policy with Firm’s Value, Firm Size does not strengthen the realtionship between Dividend Policy with Firm’s Value, Firm Size does not strengthen the realtionship between Profitability with Firm’s Value, Firm Size does not strengthen the realtionship between Sales Growth with Firm’s Value, Firm Size does not strengthen the realtionship between Investment Opportunity Set with Firm’s Value.

Download Full-text