Tata kelola perusahaan dan manajemen laba terhadap kebijakan dividen di Indonesia

This research expected to understand the effect of corporate governance and earning management on dividend policy. The dependent variable selected for the research was the dividend payout ratio, while the independent variable was determined by the size of the board of commissioners, independence of board commissioners, managerial ownership, individual ownership, institutional ownership, directional accrual, firm age, firm size, leverage, and profitability. Samples for research were all companies registered under the Indonesia Stock Exchange, these were chosen using a purposive sampling method with a total of 865 observational data that met the criteria for 5 years. The panel regression method is used to analyze the impact of each independent variable on the dependent variable. The fixed-effects model is found to be the best regression model in this research. The research concludes that individual ownership, institutional ownership and profitability have a significant positive effect on dividend policy. Meanwhile, the size of the board of commissioners, independence of board commissioners, managerial ownership, earning management, firm size, firm age and leverage do not affect dividend policy. Real earning management and ownership factors are encouraged in future studies such as family ownership, public ownership, and foreign ownership in examining the impact on dividend policy.

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STRUKTUR KEPEMILIKAN MANAJERIAL, STRUKTUR KEPEMILIKAN INSTITUSIONAL, DAN UKURAN PERUSAHAAN TERHADAP KINERJA PERUSAHAAN DAN DAMPAKNYA TERHADAP MANAJEMEN LABA PADA PERUSAHAAN SEKTOR PERTAMBANGAN BATUBARA PADA TAHUN 2017-2019

Jurnal Akuntansi dan Keuangan ◽

10.29103/jak.v9i1.3551 ◽

2021 ◽

Vol 9 (1) ◽

pp. 29

Author(s):

Rina Malahayati

Keyword(s):

Panel Data ◽

Coal Mining ◽

Firm Size ◽

Ownership Structure ◽

Institutional Ownership ◽

Earning Management ◽

Managerial Ownership ◽

Company Performance ◽

Performance Effect ◽

The Impact

This study is aimed to examine the influence of managerial ownership structure, institutional ownership structure, and firm size on company performance and the impact on the earning management on companies of sector coal mining in 2017 – 2019. Unit analysis are companies listed on coal mining for period 2017-2019. The population are 75 observations (25 companies x 3 years). Data processing uses panel data processed by using SPSS. For testing the hypothesis, the study uses path analysis. The result showed that (1) managerial ownership structure, institutional ownership structure, and firm size simultaneously to company performance, (2) the managerial ownership structure no effect on company performance, (3) the institutional ownership structure effect to negatively on company performance, (4) the firm size effect to positively on company performance, and (5) the company performance effect to negatively on earning management.

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PENGARUH KEPEMILIKAN MANAJERIAL, KEPEMILIKAN INSTITUSIONAL, DAN MANAJEMEN LABA TERHADAP KINERJA KEUANGAN

AJAR ◽

10.35129/ajar.v4i01.159 ◽

2021 ◽

Vol 4 (01) ◽

pp. 64-86

Author(s):

Anthony Holly ◽

Lukman Lukman

Keyword(s):

Financial Performance ◽

Sampling Method ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Institutional Ownership ◽

Multiple Linear Regression Analysis ◽

Earning Management ◽

Managerial Ownership ◽

Independent Variable ◽

The Impact

This research is aimed to investigate the impact of managerial ownership, institutional ownership and earning management to financial performance. This research using companies listed in Indonesia Stock Exchange (IDX) as sample in 2016-2018. Sample selected by purposive sampling method. Data type used in this study is quantitative data and analyzed using multiple linear regression analysis to analysis dependent variable, financial performance, and independent variable,managerial ownership, institutional ownership and earning management.The result of the research revealed managerial ownership and earning management has no significant effect on financial performance, but Institutional ownership has positiveandsignificant effect on financial performance

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The Parabolic Effect of Managerial Ownership and the Impact Toward Firm’s Performance

Jurnal Ekonomi ◽

10.24912/je.v25i2.663 ◽

2020 ◽

Vol 25 (2) ◽

pp. 233

Author(s):

William Susanto, Kartika Nuringsih

Keyword(s):

Firm Size ◽

Dividend Policy ◽

Stock Exchange ◽

Institutional Ownership ◽

Least Square ◽

Family Ownership ◽

Managerial Ownership ◽

Business Risk ◽

Asset Growth ◽

The Impact

The purpose of the study is to analyze the impact determinants and the parabolic effect of managerial ownership on a firm’s performance. The model consists of managerial ownership, institutional ownership, family ownership, leverage, asset growth, dividend policy, business risk, and firm size. Purposive sampling is used on non-financial companies in the Indonesian Stock Exchange with a total observation of 539 firm-years. The panel least square is used to analyze the determinants of performance while Panel EGLS is used to analyze the parabolic effect. The study finds that managerial ownership, institutional ownership, dividend policy, and firm size have a positive and significant impact on the firm’s performance. Contrarily, some variables e.g., family ownership, leverage, and asset growth have a negative significant impact on performance. Business risk is not able to prove a significant relationship with performance. Further, the study shows a parabolic effect of managerial ownership, therefore, it proves a model for reducing agency conflict on corporate financial decisions.

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How does ownership structure affect the financing and dividend decisions of firm?

Journal of Financial Reporting and Accounting ◽

10.1108/jfra-09-2021-0291 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Tahar Tayachi ◽

Ahmed Imran Hunjra ◽

Kirsten Jones ◽

Rashid Mehmood ◽

Mamdouh Abdulaziz Saleh Al-Faryan

Keyword(s):

Ownership Structure ◽

Dividend Policy ◽

Generalized Method Of Moments ◽

Institutional Ownership ◽

Agency Cost ◽

Debt Financing ◽

Policy Implications ◽

Managerial Ownership ◽

Content Type ◽

The Impact

Purpose Ownership structure deals with internal corporate governance mechanism, which plays important role in minimizing conflict of interests between shareholders and management Ownership structure is an important mechanism that influences the value of firm, financing and dividend decisions. This paper aims to examine the impact of the ownership structures, i.e. managerial ownership, institutional ownership on financing and dividend policy. Design/methodology/approach The authors use panel data of manufacturing firms from both developed and developing countries, and the generalized method of moments (GMM) is applied to analyze the results. The authors collect the data from DataStream for the period of 2010 to 2019. Findings The authors find that managerial ownership and ownership concentration have significant and positive effects on debt financing, but they have significant and negative effects on dividend policy. Institutional ownership shows a positive impact on financing decisions and dividend policy for sample firms. Originality/value This study fills the gap by proving the policy implications for both firms and investors, as managers prefer debt financing, but at the same time try to ignore dividend payment. Therefore, investors may not invest in firms with a higher proportion of managerial ownership and may choose to invest more in institutional ownership, which lowers the agency cost.

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Determinan Manajemen Laba Perusahaan di Sektor Konsumsi

EKONOMIS Journal of Economics and Business ◽

10.33087/ekonomis.v3i2.68 ◽

2019 ◽

Vol 3 (2) ◽

pp. 96

Author(s):

Muhammad Fajri

Keyword(s):

Corporate Governance ◽

Earnings Management ◽

Cash Flow ◽

Institutional Ownership ◽

Free Cash Flow ◽

Earning Management ◽

Managerial Ownership ◽

Leverage Ratio ◽

Good Corporate Governance ◽

The Impact

The aim of this research is to provide empirical evidence on the impact of good corporate governance, free cash flow, and leverage ratio on earnings management. Good corporate governance is measured by audit committee’s size, the proportion of independent commissioners, institutional ownership, and managerial ownership. Discretionary accrual is the proxy of earning management. This research used 28 consumer goods companies listed in Indonesia Stock Exchange from 2016 to 2018. Data were analyzed using panel data with random effect model. Based on the result of analysis concluded that all components of good corporate governance (audit committee’s size, the proportion of independent commissioners, institutional ownership, and managerial ownership), have no significant effect on earnings management, on other hand leverage ratio has a negative effect and no significant on earning management, and free cash flow has a positve and no significant effect on earnings management

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The Impact Of Dividend Policy, Managerial Ownership, Institutional Ownership To Capital Structure On Manufacturing Company In Indonesia Stock Exchange (Idx) Period 2012-2016

Journal of Business and Behavioural Entrepreneurship ◽

10.21009/jobbe.002.1.04 ◽

2018 ◽

Vol 2 (1) ◽

pp. 28-39

Author(s):

Ratna Putri Indah Puspita ◽

Suherman Suherman

Keyword(s):

Capital Structure ◽

Dividend Policy ◽

Random Effect Model ◽

Institutional Ownership ◽

Managerial Ownership ◽

Manufacturing Companies ◽

Significant Negative Effect ◽

Negative Effect ◽

The Impact ◽

The Capital Structure

This study aims to determine the effect of dividend policy, managerial ownership and institutional ownership on the capital structure of manufacturing companies listed on the IDX for the 2012-2016 period. The data used in this study is an annual report of the Manufacturing Sector listed on the IDX for the period 2012-2016. By using purposive sampling method, 56 companies were obtained and consisted of 280 observations. The model used in this research is panel data analysis using the Random Effect Model approach. The results of this study indicate that the dividend policy has a positive but not significant effect on DER, but has a significant positive effect on DAR. While managerial ownership is influential but not significantly negative on the capital structure (DER and DAR). Institutional ownership has a significant negative effect on DER, but has a negative but not significant effect on DAR. Profitability has a significant negative effect on the capital structure (DER and DAR), while the structure of assets and company size does not have a significant effect on the capital structure. (DER and DAR).

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Pengaruh Kepemilikan Institusional, Ukuran Dan Umur Perusahaan Terhadap Kinerja Intellectual Capital Industri Keuangan di BEI

E-Jurnal Akuntansi ◽

10.24843/eja.2018.v25.i03.p07 ◽

2018 ◽

pp. 1799

Author(s):

Ainun Roviko ◽

I Gusti Ngurah Agung Suaryana

Keyword(s):

Firm Size ◽

Intellectual Capital ◽

Stock Exchange ◽

Secondary Data ◽

Sampling Technique ◽

Institutional Ownership ◽

Firm Age ◽

Financial Industry ◽

Financial Report ◽

The Impact

Evaluate performance intellectual capital of company is an important thing because this will contribute to the company competitive advantage in the future. This study aims to obtain empirical evidence of the impact institutional ownership, firm size and firmage on intellectual capital performance financial industry listed on Indonesian Stock Exchange 2015-2017.Intellectual capital performance measured by VAICTM. This research used non- probability sampling technique with purposive sampling method and 37 company as a sample and 111 observation. Secondary data obtained from the annual financial report of the financial industry. The result of this research indicate that institutional ownership hasnot affecting the intellectual capital performance. The result of this search also indicate that firm size and firm age has a positive effect on intellectual capital performance. Keywords : Institutional ownership, size and firm age, financial industry, intellectual capital.

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THE SIGNALS OF DIVIDEND

ACCOUNTABILITY ◽

10.32400/ja.24806.7.01.2018.42-47 ◽

2018 ◽

Vol 7 (01) ◽

pp. 42

Author(s):

Novi Swandari Budiarso

Keyword(s):

Logistic Regression ◽

Hypothesis Testing ◽

Agency Theory ◽

Firm Size ◽

Dividend Policy ◽

Institutional Ownership ◽

Managerial Ownership ◽

Listed Firms

Dividend decisions is a type of policy that earnings should be distributed to shareholders and sometimes contrast with the interest by insiders whether to retain or reinvest. The objective of this study is to examine the determinants of dividend policy on 230 listed firms in period of 2010 to 2011 and conducts logistic regression for hypothesis testing. This study finds that profitability, firm size, and institutional ownership are significant to dividend policy while managerial ownership is insignificant. This findings indicate that most of listed firms of the sample of this study determine the dividend policy based on profits. This study also finds that more larger the firms or institutional ownership then they tend to increase the dividends. Limited to sample, this study proves that agency theory is not applicable for dividend policy in Indonesia as the managerial ownership have no relationship with the dividend policy.

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EFFECT OF DEBT POLICY, DIVIDEND POLICY AND OWNERSHIP OF COMPANY PERFORMANCE

Business and Entrepreneurial Review ◽

10.25105/ber.v9i2.34 ◽

2016 ◽

Vol 9 (2) ◽

pp. 165

Author(s):

Frendi Frendi

Keyword(s):

Firm Performance ◽

Dividend Policy ◽

Stock Exchange ◽

Institutional Ownership ◽

Measuring Method ◽

Multiple Regression Model ◽

Corporate Ownership ◽

Independent Variable ◽

The Impact ◽

Debt Policy

The background of this research is prior empirical researches about firm performance analysis have no consistent result. This research is based on the research in Kuala Lumpur by Ahmed<br />(2008). The objectives of this research are to analyze the impact of debt policy, dividend policy, and corporate ownership which consist of management ownership and institutional ownership<br />on firm performance. The design of this research applies the impact of independent variable on dependent variable. The independent variable in this study are debt policy, dividend policy,<br />managerial ownership, and institutional ownership. The dependent variable is firm performance. This study based on a sample of 13 firms that listed in Indonesia Stock Exchange LQ-45 during 2005 – 2008. This research uses ratio scale. Data analysis applied measuring method on multiple regression model and uses SPSS for windows to examine the impact of independent variables on dependent variable. The result of result indicated that dividend policy has significant impact on firm performance, whereas debt policy and corporate ownership have no significant impact on firm performance

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