scholarly journals Free Cash Flow, Dividend Policy and Leverage: Do Growth Opportunities Matter? Empirical Evidence From Egyptian Stock Exchange

2018 ◽  
Vol 5 (2) ◽  
pp. 1-28
Author(s):  
شیماء فکرى مهنا
Keyword(s):  
Empirical Evidence ◽  
Cash Flow ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Free Cash Flow ◽  
Growth Opportunities ◽  
Egyptian Stock Exchange

scholarly journals Faktor-Faktor Yang Mempengaruhi Kebijakan Dividen

2020 ◽  
Vol 5 (2) ◽  
pp. 110
Author(s):  
Fajar Rina Sejati ◽  
Sahrul Ponto ◽  
Septyana Prasetianingrum ◽  
Sumartono Sumartono ◽  
Nona Naomi Sumbari
Keyword(s):  
Empirical Evidence ◽  
Cash Flow ◽  
Consumer Goods ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Free Cash Flow ◽  
Return On Assets ◽  
Industry Sector ◽  
Company Growth ◽  
Debt Policy

The purpose of this study was to examine the effect of Free Cash Flow, Debt Policy, Return On Assets, Company Growth on Dividend Policy. The sample of this study was using 10 companies in the Consumer Goods Industry Sector on the Indonesia Stock Exchange (IDX) in 2015-2018 met all the criteria. Empirical evidence suggests that Free Cash Flow has a Significant Effect on Dividend Policy. Debt Policy Has Negative and Significant Impact on Dividend Policy. Whereas Return On Assets and Company Growth Have No Significant Effect on Dividend Policy.

scholarly journals DETERMINAN KEBIJAKAN DIVIDEN PADA SEKTOR NONKEUANGAN

2019 ◽  
Vol 7 (2) ◽  
pp. 1-10
Author(s):  
Ahmad Aziz Putra Pratama
Keyword(s):  
Cash Flow ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Free Cash Flow ◽  
Linear Regression Models ◽  
Growth Opportunities ◽  
Significant Negative Effect ◽  
Price Earnings Ratio ◽  
Negative Effect ◽  
Equity Price

This study aims to determine the effect of company size, leverage, growth opportunities, return on on equity, price earnings ratio, quick ratio and free cash flow on dividend policy in non-financial companies listed on the Indonesia Stock Exchange during the 2013-2018 period. This study uses 122 with a total of 732 observations using purposive sampling method with multiple linear regression models. This study was processed using SPSS 25. The independent variables in this study are size, leverage, growth opportunities, ROE, PER, quick ratio, and free cash flow. The dependent variable in this study is dividend policy. Based on the analysis results, it can be concluded that size and PER have a significant positive effect on dividend policy, quick ratio and free cash flow have a positive and insignificant effect on dividend policy, while leverage and ROE have no significant negative effect on dividend policy, and growth has a significant negative effect on dividend policy.

scholarly journals Ukuran Perusahaan Memoderasi Pengaruh Free Cash Flow dan Leverage Terhadap Kebijakan Dividen

2019 ◽  
pp. 484
Author(s):  
I Kadek Edi Rian Trisna ◽  
Gayatri Gayatri
Keyword(s):  
Cash Flow ◽  
Firm Size ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Free Cash Flow ◽  
Cash Dividend ◽  
Optimal Dividend ◽  
Current Growth ◽  
Optimal Dividend Policy ◽  
A Company

Determining the optimal cash dividend policy a company should consider several factors. An optimal dividend policy is required because it can create a balance between dividends and current growth in the next period. The purpose of this study is to obtain empirical evidence on the effect of free cash flow and leverage on dividend policy and firm size capability in moderating the effect of free cash flow and leverage against dividend policy. Companies going public listed on the Indonesia Stock Exchange (BEI) year 2013-2017 is the location of research with purposive sampling as a method of determining the sample. Companies that meet the criteria are 10 companies with a total of 39 observations. Moderated Regression Analysis (MRA) was used to test in this research. The result showed that free cash flow had positive and leverage effect negatively on dividend policy. The study also found that firm size is able to strengthen the effect of free cash flow on dividend policy and weaken the influence of leverage on dividend policy. Keywords: dividend policy, free cash flow, leverage, company size..  

scholarly journals PENGARUH FREE CASH FLOW, INVESTMENT OPPORTUNITY SET, MANAGERIAL OWNERSHIP TERHADAP DIVIDEN POLICY MELALUI DEBT POLICY SEBAGAI PEMEDIASI

2019 ◽  
Vol 1 (2) ◽  
pp. 40-59
Author(s):  
Luh Nik Oktarini ◽  
Putu Atim Purwaningrat
Keyword(s):  
Data Analysis ◽  
Cash Flow ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Free Cash Flow ◽  
Managerial Ownership ◽  
Investment Opportunity ◽  
Investment Opportunity Set ◽  
Debt Policy ◽  
Program Version

The purpose of this study was to determine the effect of free cash flow to debt policy to determine the influence of investment opportunity set against debt policy to determine the effect of managerial ownership on debt policy  to determine the effect of free cash flow to the dividend policy to determine the effect of managerial ownership to dividend policy. This research was conducted on manufaktur companies listed in Indonesia Stock Exchange 2011-2015 period. Methods of data collection is done by using the method of documentation. Data analysis with path analysis with AMOS program version 20. The results showed  the effect of variable free cash flow to debt policy is significant, effect of variable investment opportunity set against debt policy is significant, the effect of managerial ownership variable against debt policy is not significantly, the effect of variable free cash flow toward dividend policy is not significant,  the effect of managerial ownership variable to dividend policy is a significant and indirect influence of the variable investment opportunity set against the dividend policy through debt policy is significant.

scholarly journals Pengaruh Struktur Kepemilikan, Free Cash Flow terhadap Kebijakan Dividen pada Perusahaan Asuransi yang Terdaftar di BEI Tahun 2013-2017

2018 ◽  
Vol 17 (2) ◽  
pp. 94
Author(s):  
Deaninda Sekar Pembayun ◽  
Subarjo Subarjo
Keyword(s):  
Cash Flow ◽  
Ownership Structure ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Institutional Ownership ◽  
Free Cash Flow ◽  
Managerial Ownership ◽  
Insurance Company ◽  
Beta Coefficient

This study aims to find out the Effect of Managerial Ownership Structure (MNJR), Institutional Ownership Structure (INST), Free cash flow (FCF), and the Ownership Structure on Dividend Policy of Insurance Company Registered on the Indonesia Stock Exchange 2013-2017. The population in this study amounted to 55 insurance companies listed on the Indonesia Stock Exchange in 2013-2017. The samples taken were 11 companies with purposive sampling techniques. Hypothesis testing is carried out using multiple linear regression analysis. The results of the study showed that (1) Managerial Ownership Structure does not affect the Dividend Policy as evidenced by the beta coefficient (B) of 0,000, t = -0,064 <t = 2,008, significance probability of 0,0950> 0,05 (2) ownership structure Institutional effect on Dividend Policy is proven by beta coefficient (B) of 0.020, t = 3.053> t = 2.008 and significance probability value of 0.004 <0.05 (3) Free cash flow does not affect Dividend Policy as evidenced by beta coefficient (B) 0,001, t = 1,904 <t = 2,008 and significance probability value of 0,063> 0,05 (4) probability Managerial Ownership Structure, Institutional Ownership Structure, Simultaneous Cash Flow affect the Dividend Policy as evidenced by the value F = 5,031> F = 4,238 , the significance probability value is 0.009 <0.05. Keywords: Managerial Ownership, Institutional Ownership, Free cash flow and Dividend Policy.

scholarly journals The Effect of Firm Sizes, Profitability, Dividend Policy, Asset Structure, Sales Growth and Free Cash Flow on Debt Policy

2020 ◽  
Vol 4 (1) ◽  
pp. 100-119
Author(s):  
Ria Nurdani ◽  
Ika Yustina Rahmawati
Keyword(s):  
Cash Flow ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Free Cash Flow ◽  
Sales Growth ◽  
Manufacturing Companies ◽  
Company Growth ◽  
Debt Policy

The study aims to examine the effect of company size, profitability, dividend policy, asset structure, company growth and free cash flow on debt policy. The object of this study uses manufacturing companies listed on the Indonesia Stock Exchange. The data used is secondary data in the form of annual financial statements for the 2015-2018 period. The collection technique used in this study was purposive sampling while the data analysis techniques used in this study were descriptive statistics, classic assumption tests, multiple regression analysis and hypothesis testing. The analysis show that the size of the company has a negative and not significant effect on debt policy, profitability has a negative and significant effect on debt policy. Dividend policy variables and asset structure has a negative and significant effect on debt policy. While sales growth and free cash flow has no effect on debt policy.

scholarly journals PENGARUH ALIRAN KAS BEBAS DAN SET KESEMPATAN INVESTASI TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERASI

2019 ◽  
Vol 19 (1) ◽  
pp. 33
Author(s):  
Burhanudin Burhanudin ◽  
Siti Aisyah Hidayati ◽  
Muhamad Zainudin Tohri
Keyword(s):  
Regression Analysis ◽  
Cash Flow ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Positive Influence ◽  
Free Cash Flow ◽  
Sample Survey ◽  
Analysis Method ◽  
Company Value ◽  
Sample Data

The reaserch examine about the influence of free cash flow and set of infesmnet opportunities toward company value with dividend policy as moderation variable the reaserch aim is to find out a) the influence of free cash flow toward company value b) the influence  invesment opportunities set toward company value c) whether the dividend policy is able to mederate the influence of free cash flow toward company value d) whether the dividend policy is able to mederate the influence invesment opportunities set toward company value, the reaserch sample is manufacturing company which listed in indonesia stock exchange period of 2012-2016, sample received trough sample survey based on criterion detemined thus, obtained 15 companies become sample data analysis use simple linier regression analysis on hypothesis 1 and 2 later, double regression with modertated with moderated regression analysis method (MRA) for hypothesis 3 and 4. Reaserch result shows that free cash flow have a positive influence toward company value, invesment opportunites set have possitive influence toward company value while moderated regression analysis (MRA) shows that dividend policy weaken the influence between free cash flow and company value, and dividend policy also weaken the influence between  invesment opportunites set and company value.   Keyword : Free cash flow, set of invesment opportunites, dividend policy, company value.

scholarly journals PERAN PROFITABILITAS DALAM MEMODERASI PENGARUH FREE CASH FLOW TERHADAP KEBIJAKAN DIVIDEN DI INDONESIA

2019 ◽  
Author(s):  
Angga Dwi Putra ◽  
Irdha Yusra
Keyword(s):  
Cash Flow ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Free Cash Flow ◽  
Least Square ◽  
Sample Collection ◽  
Moderating Variables ◽  
Ordinary Least Square ◽  
Negative Effect ◽  
Operational Activity

Basically, every company requires capital in order to finance their operational activity and to expand their business so capital becomes one of the important elements in a company. When the capital which is owned by the company is large the operational activity that can be conducted is large as well. This research is meant to test the influence of free cash flow on dividend policy with profitability as a moderating variable. The population is all companies which are listed in Indonesia Stock Exchange in 2013-2017 periods. The sample collection technique has been carried out by using purposive sampling method and based on the predetermined criteria, 26 companies have been selected as samples. The data of the financial statement of the companies has been obtained from the official website of IDX. The analytical method used is regression analysis with moderating variables using the SPSS application. Preliminary tests were carried out namely testing the classical assumptions to assess whether in an ordinary least square linear regression model there is a problem of classical assumptions, and testing to see the effect of moderation in influencing the relationship between independent variables and the dependent variable. The results of this observation state that free cash flow has a negative effect on dividend policy, free cash flow has a positive effect on dividend policy with profitability as a moderating variable

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