Pengaruh Free cash flow, Kepemilikan Institusional, Profitabilitas dan Leverage Tehadap Kebijakan Dividen Tunai Pada Perusahaan Property dan Real estate  yang Terdaftar di Bursa Efek Indonesia

This research aims to examine and analyze the effect of free cash flow, institutional ownership, profitability and Leverage on dividend policy by using an approach multiple regression model. The proxies used to measure the financial elements are free cash flow, institutional ownership, Return on Assets and debt to equity ratio. The population in this research is property and real estate companies listed in Indonesia Stock Exchange for six years (2014-2019). Election sample procedure uses purposive sampling and the result are existed 5 companies that fulfill criteria so that amount of data studied by 30 data. The results of this research show that free cash flow, institutional ownership and profitability have a significant effect on dividend policy proxied by Dividend payout ratio. Leverage which is measured by debt to equity ratio hasn’t a significant effect on dividend policy. Free cash flow has a positive effect on dividend policy. Institutional ownership has a positive effect on dividend policy. Profitability which is measured by Return on Assets has a negative effect on dividend policy. The predictive ability of these variabel on dividend policy is 49,6% as shown by the amount of R square, while 50,4% is affected by the other factor which is not included in the research model.

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PENGARUH FREE CASH FLOW, OWNERSHIP STRUCTURE, GROWTH OPPORTUNITY TERHADAP KEBIJAKAN DIVIDEN

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2021.v10.i06.p03 ◽

2021 ◽

Vol 10 (6) ◽

pp. 560

Author(s):

Ni Putu Oppie Widiantari ◽

Made Reina Candradewi

Keyword(s):

Real Estate ◽

Cash Flow ◽

Ownership Structure ◽

Dividend Policy ◽

Institutional Ownership ◽

Free Cash Flow ◽

Managerial Ownership ◽

Significant Positive Effect ◽

Growth Opportunity ◽

Positive Effect

This study aims to explain the effect of free cash flow, ownership structure which is divided into managerial ownership and institutional ownership, and growth opportunity on dividend policy in property and real estate companies in Indonesia. This research is located in property and real estate companies listed on the Indonesia Stock Exchange. Sampling in this study using census techniques using the entire population of property and real estate companies that distribute dividends, so as to get a sample of 18. The analysis technique used in this study uses multiple linear regression analysis. From the analysis conducted, the results of the study indicate that free cash flow has a significant positive effect on dividend policy. Managerial ownership, which is proxied by the percentage of manager's share ownership, has a significant positive effect on dividend policy. Institutional ownership which is proxied by the percentage of institutional share ownership has a significant positive effect on dividend policy and growth opportunity which is proxied by asset growth has a significant positive effect on dividend policy. Keywords: free cash flow, ownership structure, growth opportunity, dividend policy

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PENGARUH EARNING PER SHARE, KEBIJAKAN DIVIDEN, ARUS KAS, LEVERAGE DAN RETURN ON ASSETS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN PROPERTY DAN REAL ESTATE YANG TERDAFTAR PADA BURSA EFEK INDONESIA

GOING CONCERN : JURNAL RISET AKUNTANSI ◽

10.32400/gc.15.1.26957.2020 ◽

2020 ◽

Vol 15 (1) ◽

Author(s):

Angelin Chandra ◽

Arie Pratania Putri ◽

Leoni Angela ◽

Henny Puspita ◽

Felicia Auryn ◽

...

Keyword(s):

Real Estate ◽

Cash Flow ◽

Firm Value ◽

Stock Exchange ◽

Sampling Techniques ◽

Return On Assets ◽

Dividend Payout ◽

Real Estate Sector ◽

Equity Ratio ◽

Positive Effect

The research was conducted in order to add insight and to find out whether Earning per Share, Dividend Payout Ratio, Cash Flow, Leverage, Return on Assets affect the value of company in property and real estate sector companies listed on Indonesia Stock Exchange for the 2013 – 2017 period. There are 75 companies and 15 sample companies that we obtained from this study using purposive sampling techniques. Descriptive quantitative is used in this type of research. The results showed that Earning Per Share, Dividend Payout Ratio, Debt to Equity Ratio and Return On Assets partially had a positive effect on firm value in property and real estate companies. While Cash Flow has no effect and is not significant.

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Pengaruh Return on Assets, Free Cash Flow, Debt to Equity Ratio, Pertumbuhan Penjualan Terhadap Kebijakan Dividen Pada Perusahaan Property and Real Estate yang Terdaftar di Bursa Efek Indonesia Periode 2014-2016

Owner ◽

10.33395/owner.v3i2.118 ◽

2019 ◽

Vol 3 (2) ◽

pp. 143

Author(s):

Hantono Hantono ◽

Ike Rukmana Sari ◽

Felicya Felicya ◽

Miria Daeli

Keyword(s):

Real Estate ◽

Cash Flow ◽

Stock Exchange ◽

Free Cash Flow ◽

Sales Growth ◽

Return On Assets ◽

Equity Ratio

The purpose of this research is to examinethe effect of the return on assets, free cash flow, debt to equity ratio, sales growth to dividen policy on property and real estate companies in Indonesia Stock Exchange in the period 2014-2016. The population in this research are property and real estate companies listed in Indonesia Stock Exchange active from 2014 to 2016 with a sample of 18 companies. Based on analysis, it can be concluded that free cash flow positive and significant effect on dividen policy. Return on assets, debt to equity ratio and sales growth does not effect on dividen policy.

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Dividend Payout Ratio: Persoalan Free Cashflow, Debt To Equity Ratio, Kepemilikan Institutional, Investment Opportunity, Dan Kesejahteraan Karyawan

Liquidity ◽

10.32546/lq.v6i1.35 ◽

2017 ◽

Vol 6 (1) ◽

pp. 1-11

Author(s):

Nurlis Azhar ◽

Helmi Chaidir

Keyword(s):

Cash Flow ◽

Significant Influence ◽

Stock Exchange ◽

Institutional Ownership ◽

Free Cash Flow ◽

Manufacturing Companies ◽

Flow Ratio ◽

Prediction Ability ◽

Employee Welfare ◽

Equity Ratio

This study was conducted to examine the effect of Free Cash Flow Ratio, Debt Equity Ratio (DER), Institutional Ownership, Employee Welfare and Price Earning Ratio (PER) to Divident Payout Ratio (Parliament) partially on manufacturing companies listed on Indonesia Stock Exchange period 2011-2015. In addition, to test the feasibility of regression model, the influence of Free Cash Flow Ratio, Debt Equity Ratio (DER), Institutional Ownership, Employee Welfare and Price Earning Ratio (PER) to Divident Payout Ratio (DPR) simultaneously at manufacturing company listed on Bursa Indonesia Securities period 2011-2015. The population in this study are 146 manufacturing companies that have been and still listed in Indonesia Stock Exchange period 2011-2013. The sampling technique used was purposive sampling and obtained sample of 42 companies. Data analysis technique used is by using multiple linear regression test. The results showed that Free Cash Flow Ratio, no significant effect on Divident Payout Ratio (DPR). Debt Equity Ratio (DER) has a negative and significant influence on Divident Payout Ratio (DPR), Institutional Ownership has a significant positive effect on Divident Payout Ratio (DPR), Employee Welfare and Price Earning Ratio (PER) has a positive and significant influence on the Divident Payout Ratio ). Simultaneously Free Cash Flow Ratio, Debt Equity Ratio (DER), Institutional Ownership, Employee Welfare and Price Earning Ratio (PER) give effect to Divident Payout Ratio. The prediction ability of the five variables to the Divident Payout Ratio (DPR) is 21.3% as indicated by the adjusted R square of 0.271 while the remaining 79.7% is influenced by other factors not included in the research model.

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The Effects of Debt To Equity Ratio, Cash Ratio, Return on Assets, Growth Rate and Institutional Ownership Toward Dividend Policy at The Companies

International Journal of Advances in Social and Economics ◽

10.33122/ijase.v1i4.113 ◽

2019 ◽

Vol 1 (4) ◽

Author(s):

I Gusti Agung Prama Yoga ◽

Desak Rurik Pradnya Paramitha Nida ◽

I Gusti Agung Krisna Pramadhi

Keyword(s):

Growth Rate ◽

Financial Management ◽

Dividend Policy ◽

Stock Exchange ◽

Secondary Data ◽

Institutional Ownership ◽

Study Data ◽

Return On Assets ◽

Logistic Regression Models ◽

Equity Ratio

A company founded is of three objectives, that is to say, to obtain maximum profit, to prosper the owner of the company, and to maximize the value of the company. The purpose of financial management itself is to help the achievement of the company goals. However, sometimes there is a conflict of interests between the owner and management which is called an agency problem that can be reduced with various mechanisms, one of which is the dividend policy. The present study examined what effects the debt to equity ratio, cash ratio, and return on assets, growth rate, and institutional ownership would have on the dividend policy of companies listed on the Indonesia Stock Exchange in 2013-2017. Being familiar with the effect of debt to equity ratio, cash ratio, and return on assets, growth rates and institutional ownership on dividend policy of companies listed on the Indonesia Stock Exchange in 2013-2017 is the aim of this study. The type of data used is entirely secondary data that was quantitative. Documentation is the method used in gathering data on this study. Data were analyzed using logistic regression models. Based on the analysis, it can be concluded that Return on Assets has a positive effect on dividend policy of companies listed on the Indonesia Stock Exchange in 2013-2017, while Debt to Equity Ratio, Cash Ratio, growth rate, and institutional ownership have no effect on the company's dividend policy in 2013-2017.

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

Jurnal Ekonomi Akuntansi dan Manajemen ◽

10.19184/jeam.v17i2.9513 ◽

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.

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Kepemilikan Manajerial, Kepemilikan Institusional dan Kebijakan Dividen serta Free Cash Flow sebagai Pemoderasi

E-Jurnal Akuntansi ◽

10.24843/eja.2021.v31.i07.p08 ◽

2021 ◽

Vol 31 (7) ◽

pp. 1710

Author(s):

Ni Made Ari Trisna Dewi ◽

Anak Agung Gde Putu Widanaputra

Keyword(s):

Regression Analysis ◽

Cash Flow ◽

Sampling Method ◽

Dividend Policy ◽

Stock Exchange ◽

Institutional Ownership ◽

Free Cash Flow ◽

Managerial Ownership ◽

Manufacturing Companies ◽

Analysis Technique

This study aims to determine the effect of managerial ownership and institutional ownership on dividend policy with free cash flow as a moderating variable. This research was conducted at manufacturing companies listed on the Indonesia Stock Exchange (BEI) in 2015-2019. The sample was selected by means of a purposive sampling method with 42 companies as samples and 210 observations. The analysis technique used in this research is Moderated Regression Analysis (MRA). The results of this study indicate that the higher the managerial ownership, the higher the dividend policy, especially in companies that have high free cash flow, and the higher the institutional ownership, the higher the dividend policy, especially in companies with high free cash flow. Keywords: Managerial Ownership; Institutional Ownership; Free Cash Flow; Dividend Policy.

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Model Pembiayaan Syariah Untuk Perkembangan Perkebunan Kopi di Kabupaten Bener Meriah

Liquidity ◽

10.32546/lq.v7i1.171 ◽

2018 ◽

Vol 7 (1) ◽

pp. 1-6

Author(s):

Ali Muamar ◽

Jafril Khalil ◽

Manager Nasution ◽

Arief Safari ◽

Riawan Amin ◽

...

Keyword(s):

Cash Flow ◽

Stock Exchange ◽

Sampling Technique ◽

Institutional Ownership ◽

Free Cash Flow ◽

Manufacturing Companies ◽

Flow Ratio ◽

Employee Welfare ◽

Analysis Technique ◽

Equity Ratio

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PENGARUH FREE CASH FLOW, PERTUMBUHAN PERUSAHAAN, RETURN ON ASSETS, CASH RATIO, DEBT TO EQUITY RATIO DAN FIRM SIZE TERHADAP KEBIJAKAN DIVIDEN (Studi Empiris pada Perusahaan Sektor Industri Barang Konsumsi yang Terdaftar di Bursa Efek Indonesia Periode 2015

Jurnal ULTIMA Accounting ◽

10.31937/akuntansi.v12i1.1570 ◽

2020 ◽

Vol 12 (1) ◽

pp. 44-67

Author(s):

Elisa Tjhoa

Keyword(s):

Cash Flow ◽

Firm Size ◽

Stock Exchange ◽

Secondary Data ◽

Free Cash Flow ◽

Return On Assets ◽

Dividend Payout ◽

Regression Methods ◽

Negative Effect ◽

Equity Ratio

Abstract- The company’s decision on the distribution of dividend, as one of the returns expected by investors aside of capital gain, is an important decision due to its impacts on company’s value and shareholders’ wealth. The purpose of this research is to obtain empirical evidence regarding the determinants on Dividend Payout Ratio, namely Free Cash Flow, Company’s Growth, Return on Assets, Cash Ratio, Debt to Equity Ratio, and Firm Size (Empirical Study on Consumption Goods Industry Companies Listed on Indonesia Stock Exchange between 2015-2017). The samples in this study were selected through purposive sampling method and secondary data were analyzed through multiple linear regression methods. In total, 13 companies were used as samples. The result of this study showed Free Cash Flow, Cash Ratio and Firm Size partially have significant and positive effect towards Dividend Payout Ratio, and Company’s Growth has significant and negative effect towards Dividend Payout Ratio. While Return on Assets and Debt to Equity Ratio has no significant effects toward Dividend Payout Ratio. Free Cash Flow, Company’s Growth, Return on Assets, Cash Ratio, Debt to Equity Ratio and Firm Size simultaneously have significant effect toward Dividend Payout Ratio (DPR). Keywords: Cash Ratio, Debt to Equity Ratio, Dividend Payout Ratio, Firm Size, Free Cash Flow, Growth, Return on Assets

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Faktor-Faktor Yang Mempengaruhi Kebijakan Dividen

Berkala Akuntansi dan Keuangan Indonesia ◽

10.20473/baki.v5i2.21480 ◽

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.

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