scholarly journals FAMILY CONTROL, INSTITUTIONAL OWNERSHIP, AND DIVIDEND POLICY OF MANUFACTURING COMPANIES LISTED IN INDONESIA STOCK EXCHANGE

2019 ◽  
Vol 9 (1) ◽  
pp. 97
Author(s):  
Muhammad Madyan ◽  
Harlina Meidiaswati ◽  
Nugroho Sasikirono ◽  
Muhammad Hadyan Herlambang
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Institutional Ownership ◽  
Family Ownership ◽  
Manufacturing Companies ◽  
Dividend Payout ◽  
Family Control ◽  
The Relationship ◽  
Positive Effect

This study is conducted to examine the effect of family share ownership on the dividend policy of manufacturing companies in the Indonesia Stock Exchange (IDX). In this study, we also examine the moderating effect of institutional ownership on the relationship between family ownership and dividend policy. The number of observations 137 firm-years, consisting of family companies in the manufacturing sector listed on the IDX in the period 2013-2016. The test results show that family ownership has a positive effect on the dividend payout ratio. Research also shows that institutional ownership weakens the relationship between family ownership and dividend payout ratio.

scholarly journals PENGARUH LEVERAGE, STRUKTUR KEPEMILIKAN, DAN CORPORATE GOVERNANCE TERHADAP KEBIJAKAN DIVIDEN PADA SEKTOR MANUFAKTUR DI BEI

2019 ◽  
Vol 8 (3) ◽  
pp. 1637
Author(s):  
A. A. Istri Alit Urmila Dewi ◽  
Ida Bagus Anom Purbawangsa
Keyword(s):  
Corporate Governance ◽  
Ownership Structure ◽  
Sampling Method ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Manufacturing Companies ◽  
Analysis Technique ◽  
Partial Ownership ◽  
Positive Effect

This study aims to examine the effect of leverage, ownership structure, and corporate governance on dividend policy on manufacturing sector in Indonesia Stock Exchange Period 2012-2016. This research was conducted in all manufacturing companies in Indonesia Stock Exchange (BEI). The number of samples, using purposive sampling method is as many as 18 companies from 147 companies during the period 2012-2016. Data analysis technique applied in this research is multiple linear regression. The results of the analysis reply that leverage partially have a positive effect on the dividend policy in the manufacturing sector in Indonesia Stock Exchange Period 2012-2016. Partial ownership structure positively affects dividend policy in manufacturing sector in Indonesia Stock Exchange for 2012-2016 period. Corporate governance partially positively influences the dividend policy on the manufacturing sector in Indonesia Stock Exchange Period 2012-2016.

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 Determinan Praktik Perataan Laba

2020 ◽  
Vol 12 (2) ◽  
pp. 178-186
Author(s):  
Barbara Gunawan ◽  
Anggarapindo Hardjunanto
Keyword(s):  
Firm Value ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Income Smoothing ◽  
Company Size ◽  
Manufacturing Companies ◽  
Financial Leverage ◽  
Dividend Payout ◽  
Negative Effect ◽  
Positive Effect

The purpose of this study was to determine the factors that influence the practice of income smoothing in manufacturing companies listed on the Indonesia Stock Exchange in the 2014-2017 period.This research used a purposive sampling method to determine the sample according to the criteria needed in the research. Thus, it is got 34 company samples and can process 136 companies. The analyzer of this research used logistic regression.The results showed that the effect of profitability, company size, financial leverage, firm value on income smoothing practices has no effect, while dividend payout ratio variable proved to have a significant positive effect on income smoothing practices, and Institutional ownership variable proved to have a significant negative effect on income smoothing practices  Keywords: Profitability, Company Size, Financial Leverage, Firm Value, Dividend Payout Ratio, and Institutional Ownership

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

2020 ◽  
Vol 9 (3) ◽  
pp. 233-242
Author(s):  
Ali Mahfudz ◽  
Andhi Wijayanto
Keyword(s):  
Stock Returns ◽  
Firm Size ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Significant Positive Effect ◽  
Manufacturing Companies ◽  
Return On Equity ◽  
Negative Effect ◽  
Positive Effect

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.

PENGARUH FAMILY OWNERSHIP, PERUBAHAN TARIF PAJAK DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN

2017 ◽  
Vol 9 (2) ◽  
Author(s):  
Elfina Astrella Sambuaga
Keyword(s):  
Ownership Structure ◽  
Tax Reform ◽  
Stock Exchange ◽  
Family Ownership ◽  
Corporate Debt ◽  
Tax Rates ◽  
Manufacturing Companies ◽  
The Impact ◽  
The Relationship ◽  
Debt Policy

<p>This study aims to provide empirical evidence related to the influence of family ownership, tax reform on corporate debt policy, and further prove the impact on the firm value.This study examined the effect of changes in tax rates in 2009 and 2010 on the relationship between family ownership structure and corporate debt policy. The population of this research is manufacturing companies listed in Indonesia Stock Exchange for 8 consecutive years (2006-2013), with the period of observation for 7 years (2007-2013). A period of 8 years was taken to see a company that is consistently listed on the Stock Exchange prior to the end of the observation period. The result of this study shows that tax reform from progressive tax rates to a flat rate does not affect the relationship between family ownership structure and corporate debt policy. In contrast to the year 2009, changing rate from 28% to 25% in late 2010 was a significant effect on the debt policy with the company of family ownership. Based on the results, it was found that family ownership and debt policy significantly affect the company's enterprise value. It can be concluded, the higher the family ownership, the company's value would be diminished. Instead, the company's value will increase when the company adds to its debt policy.</p><p>Keywords : debt policy, family ownership, firm value, tax reform.</p>

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.

scholarly journals PROFITABILITAS, KARAKTER EKSEKUTIF, KEPEMILIKAN KELUARGA DAN TAX AVOIDANCE PERUSAHAAN

2020 ◽  
Vol 4 (1) ◽  
pp. 93-106
Author(s):  
Putu Kepramareni ◽  
Ida Ayu Nyoman Yuliastuti ◽  
Ni Wayan Ari Suarningsih
Keyword(s):  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Tax Avoidance ◽  
Multiple Linear Regression Analysis ◽  
Family Ownership ◽  
Manufacturing Companies ◽  
Corporate Tax ◽  
Purposive Sampling ◽  
Analysis Technique ◽  
Positive Effect

Abstrak   Tax avoidance  merupakan upaya yang dilakukan seseorang untuk mengurangi atau meminimalkan kewajiban pajaknya tanpa melanggar ketentuan undang-undang perpajakan yang berlaku. Wajib pajak berusaha untuk meringankan kewajiban pembayaran pajak dengan meminimalkan jumlah pajak yang harus dibayar. Terdapat beberapa faktor yang dapat mempengaruhi seseorang dalam melakukan tax avoidance yaitu profitabilitas, karakter eksekutif dan kepemilikan keluarga. Penelitian ini bertujuan untuk menguji pengaruh dari variabel-variabel tersebut yaitu variabel profitabilitas, karakter eksekutif dan kepemilikan keluarga terhadap variabel tax avoidance. Penelitian ini dilakukan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2014-2018. Sampel yang digunakan dalam penelitian ini sebanyak 14 perusahaan yang diperoleh melalui metode purposive sampling dan diteliti selama 5 tahun sehingga sampel dalam penelitian ini sebanyak 70 sampel. Teknik analisis data yang digunakan dalam penelitian ini adalah teknik analisis regresi linear berganda. Hasil analisis menunjukkan bahwa profitabilitas tidak berpengaruh terhadap tax avoidance perusahaan, sedangkan karakter eksekutif dan kepemilikan keluarga berpengaruh positif terhadap tax avoidance  perusahaan.   Kata kunci: profitabilitas, karakter eksekutif, kepemilikan keluarga dan tax avoidance   Abstract   Tax avoidance is an attempt by someone to reduce or minimize their tax obligations without violating the provisions of applicable tax laws. Taxpayers try to ease the tax payment obligations by minimizing the amount of tax that must be paid. There are several factors that can influence someone in doing tax avoidance, namely profitability, executive character and family ownership. This study aims to examine the effect of these variables, namely profitability, executive character and family ownership on tax avoidance variables. This research was conducted at manufacturing companies listed on the Indonesia Stock Exchange during the 2014-2018 period. The samples used in this study were 14 companies obtained through the purposive sampling method and studied for 5 years so that the samples in this study were 70 samples. Data analysis technique used in this study is multiple linear regression analysis techniques. The analysis shows that profitability has no effect on corporate tax avoidance, while executive character and family ownership have a positive effect on corporate tax avoidance.   Keywords: profitability, executive character, family ownership and tax avoidance

scholarly journals The Relation Between Institutional Ownerships, Debt Policy, Dividend Policy And Company Performance In Terms Of Clarifying Agency Conflict Mechanism : Case Study At Manufacturing Companies Listed At The Indonesian Stock Exchange

2018 ◽  
Vol 6 (07) ◽  
Author(s):  
Mateus Xavier Da Costa Cabral ◽  
Arsono Laksamana ◽  
Mudjilah Rahayu
Keyword(s):  
Significant Influence ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Reciprocal Relationship ◽  
Company Performance ◽  
Manufacturing Companies ◽  
Causality Test ◽  
Analysis Technique ◽  
Debt Policy

Companies that go public, in general, have been managed professionally that can be tailored to the consumers’ needs under applicable regulations. Management within a company's business entity involves an agency relationship. The purpose of this study is to examine: a) a reciprocal relationship between institutional ownership, debt policy, dividend policy and company performance of manufacturing companies of the Indonesian Stock Exchange, b) the influence of institutional ownership, debt policy, dividend policy on the company performance of the manufacturing companies of the Indonesian Stock Exchange. This type of research includes associative research with a quantitative approach. The samples of this research as many as 98 manufacturing companies listed at the Indonesian Stock Exchange of the period of 2006-2015 with the technique of determining purposive samplings. Data analysis technique used in this research is Granger Causality test. The results of this study are: a) there is no reciprocal relationship between institutional ownership and debt policy, b) there is no reciprocal relationship between institutional ownership with dividend policy, c) no reciprocal relationship between debt policy and dividend policy, d) there is no reciprocal relationship between institutional ownership and company performance; e) there is no reciprocal relationship between debt policy and company performance; f) there is no reciprocal relationship between dividend policy and company performance; g) institutional ownership has a positive and partially significant influence on company performance, h) debt policy has a positive and partially significant influence on company performance, and i) dividend policy has positive and partially significant influence to companies performance on manufacturing company listed at the Indonesian Stock Exchange

scholarly journals IMPACT OF DIVIDEND PAYOUT ON FIRM’S PERFORMANCE UNDER LOW GROWTH OPPORTUNITIES

2021 ◽  
Vol 9 (3) ◽  
pp. 1156-1165
Author(s):  
Taymoor Ali ◽  
Muhammad Kashif Khurshid ◽  
Adnan Ali Chaudhary
Keyword(s):  
Stock Exchange ◽  
Manufacturing Sector ◽  
Secondary Data ◽  
Financial Statements ◽  
Manufacturing Firms ◽  
Growth Opportunities ◽  
Dividend Payout ◽  
Relationship Of ◽  
The Relationship

Purpose of the study: The objective of the study was to investigate the relationship of the dividend payout on a firm's performance under low growth opportunities from the manufacturing sector of Pakistan. Methodology: A sample of 251 firms out of 378 manufacturing firms listed at the Pakistan Stock Exchange (PSX), have been carefully chosen for the era of ten years from 2006 to 2015. The secondary data was obtained from the firm’s web financials and analysis of financial statements, published by the statistics department of the State Bank of Pakistan. For the persistence of investigation panel data (fixed effect) analyses were employed in this study. Main Findings: The fallouts of the analysis revealed that the dividend payout ratio has an insignificant relationship with the firm's performance in the low growth perspectives of the study. Applications of this study: The findings of the study are helpful for the financial managers of the firms facing low growth opportunities. Furthermore, the investors in capital markets can use the findings of this while investing. The originality of this study: The study focussed on the role of low growth opportunities while studying the nexus of dividend pay-out and the firm’s financial performance which inherits the novelty and originality of the study.

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