scholarly journals Investigating the determinants of dividend policy in emerging markets using a combination of exploratory variables

2016 ◽  
Vol 13 (2) ◽  
pp. 8-15
Author(s):  
Dadang Prasetyo Jatmiko ◽  
Viktor Manahov ◽  
Nnamdi Obiosa
Keyword(s):  
Emerging Markets ◽  
Transaction Costs ◽  
Transaction Cost ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Agency Cost ◽  
Insider Ownership ◽  
Independent Variables ◽  
Cost Factors

s. The authors analyze the factors causing dividend policy by utilizing agency cost theory of dividend and transaction cost of dividend by using blue chips companies stock listed in the Indonesian Stock Exchange (IDX) from 2004-2013. They also examine the transaction costs of bid-offer spread and commission as the proxies with agency cost factors of insider ownership and shareholder dispersion. The authors observe that the independent variables affected the dividend policy simultaneously. In addition, they find that the bid-offer spread as a new proxy also had significant effects on the dividend policy

scholarly journals FAKTOR-FAKTOR YANG MEMPENGARUHI KEBIJAKAN DIVIDEN PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

2018 ◽  
Vol 19 (2) ◽  
pp. 259-270
Author(s):  
YOHANES ERYANTO ◽  
SURYANTO SURYANTO
Keyword(s):  
Regression Analysis ◽  
Multiple Regression Analysis ◽  
Firm Size ◽  
Significant Influence ◽  
Sampling Method ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Insider Ownership ◽  
Independent Variables ◽  
Earnings Per Share

The purpose of this research is to provide empirical evident whether insider ownership, firm size, profitability, leverage, liquidity, earnings per share and price to book ratio have significant influence of dividend policy. Sample in this research are nonfinancial companies, which are listed in Indonesian Stock Exchange over the three years period 2012 until 2014. This research used purposive sampling method. The sample of this research consist of 52 companies that meet in criteria. This research uses multiple regression analysis to find out the influence of all independent variables above to dividend policy. The result of the research showed that firm size, leverage, earnings per share and price to book ratio had a significant influence on dividend policy, while insider ownership, profitability and liquidity had no influence.

scholarly journals PENGARUH AGENCY COST DAN SIKLUS KEHIDUPAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2009-2011

2014 ◽  
Vol 1 (1) ◽  
pp. 20
Author(s):  
Junius Menafati Waruwu ◽  
Muhammad Nuryatno Amin
Keyword(s):  
Life Cycle ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Agency Cost ◽  
Simple Linear Regression ◽  
Financial Reports ◽  
Insider Ownership ◽  
Descriptive Method

<span class="fontstyle0">The objective of this research is to examine the effect of agency cost (proxied by insider ownership, dispersion of ownership and institutional ownership) and life cycle of company to dividend policy in public listed companies actively traded in Indonesian Stock Exchange. The nature of the study was hyphothesis descriptive method with quantitative approach. Sample in this study were 58 companies for a period of 2009 to 2011. Data used were secondary data from annual financial reports. While the method of used in this study is purposive sampling and the model analysis is simple linear regression. The result of the study indicates that institutional ownership variable has the effect to dividend policy, while insider ownership, dispersion ownership and life cycle of company have no effect to dividend.</span>

ANALISIS PENGARUH AGENCY COST TERHADAP DIVIDEND PAYOUT RATIO (Pada Perusahaan Manufaktur di Bursa Efek Indonesia Tahun 2010-2011)

2013 ◽  
Author(s):  
Raudhatul Hidayah
Keyword(s):  
Firm Size ◽  
Sampling Method ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Agency Cost ◽  
Regression Method ◽  
Linear Regression Method ◽  
Dividend Payout ◽  
Multiple Linear Regression Method

The main purpose of the research was to know partially the influence of institutional ownership, collateralizable assets, debt to total assets and firm size on dividend payout ratio in firms that listed at Indonesia Stock Exchange of 2010–2011 period. The other purpose is to know simultaneously the influence of institutional ownership, collateralizable assets, debt to total assets and firm size on dividend payout ratio in firms that listed at Indonesia Stock Exchange of 2010–2011 period. The population of this research was all the firms that listed at Indonesia Stock Exchange of 2010-2011 period namely, 136 in number. The sample, 27 firms, was taken by the use of purposive sampling method. The technique of data collection used was documentation.  The data analysis made use of multiple linear regression method. The results showed that partially institutional ownership had a positive and significant effect to dividend policy. Collateralizable assets, debt to total assets and firm size partially was not significant to dividend policy. Simultaneously institutional ownership, collateralizable assets, debt to total assets and firm size had a positive and significant effect to dividend payout ratio.

ANALISIS PENGARUH AGENCY COST TERHADAP DIVIDEND PAYOUT RATIO (Pada Perusahaan Manufaktur di Bursa Efek Indonesia Tabun 2010-2011)

2013 ◽  
Author(s):  
Raudhatul Hidayah
Keyword(s):  
Firm Size ◽  
Sampling Method ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Agency Cost ◽  
Regression Method ◽  
Linear Regression Method ◽  
Dividend Payout ◽  
Multiple Linear Regression Method

The main purpose of the research was to know partially the influence of institutional ownership, collateralizable assets, debt to total assets and firm size on dividend payout ratio in firms that listed at Indonesia Stock Exchange of 2010-2011 period. The other purpose is to know simultaneously the influence of institutional ownership, collateralizable assets, debt to total assets and firm size on dividend payout ratio in firms that listed at Indonesia Stock Exchange of 2010-2011 period. The population of this research was all the firms that listed at Indonesia Stock Exchange of 2010-2011 period namely, 136 in number. The sample, 27 firms, was taken by the use of purposive sampling method. The technique of data collection used was documentation. The data analysis made use of multiple linear regression method. The results showed that partially institutional ownership had a positive and significant effect to dividend policy. Collateralizable assets, debt to total assets and firm size partially was not significant to dividend policy. Simultaneously institutional ownership, collateralizable assets, debt to total assets and firm size had a positive and significant effect to dividend payout ratio.

ANALISIS PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN, AGENCY COST, LIKUIDITAS TERHADAP KINERJA PADA PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2015-2019

2021 ◽  
Vol 5 (1) ◽  
Author(s):  
Mia Audina
Keyword(s):  
Capital Structure ◽  
Banking Sector ◽  
Stock Exchange ◽  
Agency Cost ◽  
Statistical Test ◽  
Company Size ◽  
Company Performance ◽  
Current Ratio ◽  
Independent Variables ◽  
Equity Ratio

This study aims to examine the effect of capital structure, firm size, agency cost and liquidity on company performance. Researchers found differences in results between previous studies which are strong reasons why this research is feasible. The sample includes 8 banking sector companies listed on the Indonesia Stock Exchange (BEI) for the period 2015-2019. In this study, capital structure is proxied by using the Debt to Equity Ratio (DER), company size is proxied by using (Size), agency cost is proxied by using Free Cash Flaw (FCF), and liquidity is proxied by the current ratio. The method of analysis in this research is descriptive statistical test, classical assumption test and multiple regression analysis using the SPSS application. The results showed that the independent variables, namely capital structure, agency cost have a positive and significant effect on company performance, while the independent variables, namely company size and liquidity, have a negative and significant effect on company performance. Keywords : Struktur modal,ukuran perusahaan, agency cost, likuiditas, kinerja perusahaan.

A Study Relationship between Firm Performance and Dividend Policy by Fuzzy Regression: Iranian scenario

2013 ◽  
Vol 3 (2) ◽  
pp. 70
Author(s):  
Seyed Hasan Salehnezhad
Keyword(s):  
Regression Analysis ◽  
Stock Returns ◽  
Dividend Policy ◽  
Functional Relationship ◽  
Stock Exchange ◽  
Negative Relationship ◽  
Decision Makers ◽  
Fuzzy Regression ◽  
Independent Variables ◽  
Fuzzy Environment

Fuzzy regression analysis is an extension of the classical regression analysis that is used in evaluating the functional relationship between the dependent and independent variables in a fuzzy environment. Accounting dividend is the most important information used by decision makers in the economic analysis. This research investigated corporate governance and dividend policy in listed company's Tehran Stock exchange by fuzzy regression during 2010 and 2012. The results indicated that significant and positive relationship exists between financial performance (stock returns) and dividend policy and also there was a significant and negative relationship exists between economic performance (EVA) and dividend policy. Furthermore, a significant relationship exists between controlling variable (size) and dividend policy.

Corporate governance and dividend policy in Sri Lankan firms: a data triangulation approach

2020 ◽  
Vol 12 (4) ◽  
pp. 543-560
Author(s):  
H. Kent Baker ◽  
Narayanage Jayantha Dewasiri ◽  
Sandaram P. Premaratne ◽  
Weerakoon Yatiwelle Koralalage
Keyword(s):  
Corporate Governance ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Agency Cost ◽  
Free Cash Flow ◽  
Sri Lankan ◽  
Survey Analysis ◽  
Data Set ◽  
Market Data ◽  
Content Type

Purpose This paper aims to investigate the relation between corporate governance and dividend policy in Sri Lankan firms. Design/methodology/approach The data set consists of market data using 1,608 firm-year observations from 201 firms listed on the Colombo Stock Exchange and survey-based data from 151 respondents from the same 201 firms. The authors use data triangulation to examine the two approaches. Findings The analysis of the market data reveals that a significantly positive relation between corporate governance on both the propensity to pay dividends and dividend payout. Survey analysis confirms these findings. Triangulated evidence supports the outcome model of dividends, free cash flow and agency cost theories. Practical implications The findings are useful not only for management in developing suitable corporate governance practices and dividend policies for their firms but also for shareholders in evaluating both existing and new investments. Future researchers should investigate the same phenomenon in other contexts using triangulation approaches to confirm their findings. Originality/value This study is the first to use governance indices both in terms of survey and market-based data to examine the relation between corporate governance and dividend policy.

Kebijakan Pembagian Dividen Perusahaan BUMN Indonesia Periode 2011-2016

2018 ◽  
Vol 17 (1) ◽  
pp. 65
Author(s):  
Siti Nurainul Jannah
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Multiple Linear Regression Analysis ◽  
Payout Policy ◽  
Company Size ◽  
Dividend Payout ◽  
Independent Variables ◽  
Asset Growth

The purpose of this study is to analyze the factors that influence the dividend payout policy on BUMN companies listed in Indonesia Stock Exchange period 2011-2016. The independent variables used in this research are profitability, liquidity, asset growth, and company size. The method used is the method of quantitative research and the object of research is a state-owned company listed on the Indonesia Stock Exchange. The data used in this study was secondary data in the form of financial statements obtained by data collection techniques using documentation method. The sample used in this research is twelve companies using purposive sampling method. The technique of data analysis using was multiple linear regression analysis using SPSS test tool. The results showed that all independent variables together positive effect on dividend policy. While the t-test results show that only Profitability variables that have a positive and significant influence toward the dividend payout policy. The independent variables liquidity, asset growth, and company size have a positive and insignificant effect on dividend policy. The dividend payout policy is one of the main concerns of the stakeholders. However, this study uses only four independent variables to analyze the factors that influence the dependent variable. The magnitude of influence of all independent variables in this study only 33% and the rest much influenced by other variables outside in this study. Keywords: dividend payout policy, profitability, liquidity, asset growth, company size

scholarly journals THE EFFECT OF AGENCY COSTS, OWNERSHIP STRUCTURE, SIGNALING, INVESTMENT OPPORTUNITIES, SIZE, FINANCIAL LEVERAGE, AND PROFITABILITY ON DIVIDEND POLICY OF COMPANIES LISTED IN INDONESIAN STOCK EXCHANGE

2021 ◽  
Vol 1 (2) ◽  
pp. 109-120
Author(s):  
Ferdi Nusaputra ◽  
Sautma Ronni Basana
Keyword(s):  
Ownership Structure ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Agency Cost ◽  
Tobit Regression ◽  
Financial Leverage ◽  
Public Companies ◽  
Dividend Policies ◽  
Entire List ◽  
Investment Opportunities

The purpose of this research is to determine the effect of agency cost, ownership structure, signaling, investment opportunities, size, financial leverage, and profitability on dividend policies on public companies listed on the Indonesian Stock Exchange (IDX) period 2014 - 2019. This research sample uses the entire list of companies listed on the Indonesian Stock Exchange period 2014 - 2019. The data analysis method used is tobit regression. The results of this research analysis suggest that agency cost, ownership, investment opportunities, size, financial leverage, and profitability have a significant effect on dividend policy on companies listed in IDX period 2014 - 2019.

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