scholarly journals Kesempatan Investasi, Kebijakan Dividen dengan Firm Size sebagai Variabel Moderasi

2021 ◽  
Vol 31 (12) ◽  
pp. 3122
Author(s):  
Dewa Ayu Mirah Satya Dewi ◽  
Anak Agung Gde Putu Widanaputra
Keyword(s):  
Firm Size ◽  
Sampling Method ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Analysis Technique ◽  
Investment Opportunity Set ◽  
Investment Opportunities ◽  
Study Support ◽  
A Company

Dividend policy is one of the most important financial functions of a company. This is because the dividend policy has an influence on the company's stakeholders, both managers and investors. This study aims to determine the effect of investment opportunities on dividend policy with Firm Size as a moderating variable. This research was conducted on manufacturing companies on the Indonesia Stock Exchange for the 2015-2019 period. The population is 142 companies. Based on the purposive sampling method and the expenditure of outlier data, a sample of 34 companies was obtained. The data analysis technique used is Moderated Regression Analysis. The results of the analysis show that Firm Size does not weaken the effect of investment opportunities on dividend policy. The results of this study support the residual theory of dividend and agency theory. In addition, the results of this study can also be considered by companies in determining dividend policy and assisting investors in making investment decisions. Keywords : Investment Opportunity Set; Dividend Policy; Firm Size.

scholarly journals The Effect of Financial Performance and Sales Growth on Dividend Policy with Firm Size as Moderating Variable in Automotive Sub-Sector Manufacturing Companies Listed on the IDX in 2016-2019

2021 ◽  
Vol 8 (7) ◽  
pp. 258-266
Author(s):  
Taufiqurrahman . ◽  
Erlina . ◽  
Khaira Amalia Fachrudin
Keyword(s):  
Financial Performance ◽  
Firm Size ◽  
Sampling Method ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Automotive Sector ◽  
Sales Growth ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Analysis Technique

This study aims to determine the effect of financial performance and sales growth on dividend policy with firm size as a moderating variable in automotive sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2016-2019. This research was conducted based on information obtained on the Indonesia Stock Exchange. This research uses the purposive sampling method. The population in this study is the automotive sub-sector manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2019, with a sample of 13 companies. The analysis technique used is by using software views. The results of this study indicate that Liquidity (CR) and Leverage (DER) have a significant effect on dividend policy while the variables Profitability (ROA), Leverage (DER), Activity (TATO), Growth, and Sales Growth have no significant effect on Dividend Policy in Automotive Sub-Sector Manufacturing Companies Listed on the IDX. The results of this study also show that Firm size can moderate Profitability (ROA), Leverage (DER), and Activity (TATO) on Dividend Policy. However, Firm size cannot moderate Liquidity (CR), Growth, and Sales Growth on Dividend Policy in the sub automotive sector listed on the Indonesia Stock Exchange. Keywords: Liquidity (CR), Profitability (ROA), Leverage (DER), Activity (TATO), Growth, Sales Growth, Dividend Policy (DPR), Firm Size.

scholarly journals PENGARUH FIRM SIZE, FINANCIAL DISTRESS, DEBT LEVEL, DAN MANAGERIAL OWNERSHIP TERHADAP KEPUTUSAN HEDGING PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

2019 ◽  
Vol 9 (1) ◽  
Author(s):  
Husna Anniyati ◽  
Hermanto Hermanto ◽  
Siti Aisyah Hidayati
Keyword(s):  
Data Analysis ◽  
Firm Size ◽  
Financial Distress ◽  
Sampling Method ◽  
Stock Exchange ◽  
Financial Statements ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Debt Level ◽  
Analysis Technique

This study aims to analyze the influence of firm size, financial distress, debt level, and managerial ownership on hedging decisions on manufacturing companies listed on the Indonesia Stock Exchange. This type of research is associative-causality research. The population of this research is all the go pubic manufacturing companies on the Indonesia Stock Exchange, which are 170 companies. The number of samples used was 81 companies, which were taken using a purposive sampling method. Data collection techniques use documentation techniques obtained from the annual financial statements of manufacturing companies. The data analysis technique uses the logistic regression analysis method. The results of data analysis show that: (1) firm size and managerial ownership variables have a positive and significant effect on hedging decisions and (2) financial distress and debt levels have a negative and insignificant effect on hedging decisions.Keywords:hedging, firm size, financial distress, debt level, managerial ownership

scholarly journals Pengaruh Profitabilitas pada Kebijakan Dividen dengan Investment Opportunity Set sebagai Variabel Pemediasi

2020 ◽  
Vol 30 (1) ◽  
pp. 212
Author(s):  
Ida Ayu Nabila Meidyna ◽  
Made Mertha
Keyword(s):  
Data Analysis ◽  
Path Analysis ◽  
Empirical Evidence ◽  
Sampling Method ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Investment Opportunity ◽  
Purposive Sampling ◽  
Analysis Technique ◽  
Investment Opportunity Set

The amount of dividends distributed to shareholders depends on the company's dividend policy. This study aims to obtain empirical evidence about the effect of profitability on dividend policy with an investment opportunity set as a mediating variable. This research was conducted at companies classified as LQ45 index on the Indonesia Stock Exchange. The sampling method used was purposive sampling to obtain 87 observations. Data analysis technique used is path analysis. Based on research results, it is known that profitability has a positive and significant effect on investment opportunity set. Profitability has a positive and significant effect on dividend policy. Investment opportunity set has a negative and significant effect on dividend policy. Investment opportunity set is able to mediate the effect of profitability on dividend policy.

scholarly journals PENGARUH UKURAN PERUSAHAAN, LEVERAGE, RISIKO SISTEMATIK, DAN INVESTMENT OPPORTUNITY SET TERHADAP EARNINGS RESPONSE COEFFICIENT PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PADA TAHUN 2012-2014

2018 ◽  
Vol 20 (3) ◽  
pp. 463
Author(s):  
Ivan Kurnia, Sufiyati
Keyword(s):  
Firm Size ◽  
Sampling Method ◽  
Stock Exchange ◽  
Systematic Risk ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Investment Opportunity Set ◽  
Earnings Response

The purpose of this research is to gain empirical evidence about the influence of firm size, leverage, systematic risk, and investment opportunity set on earnings response coefficient on manufacturing companies listed in Indonesia Stock Exchange for 2012-2014. Samples selected by using purposive sampling method. This research used a sample of one hundred fourty one manufacturing companies. The result of this research indicate that only systematic risk have an influence on earnings response coefficient while firm size, leverage, and investment opportunity set has not an influence on earnings response coefficient. For a better results, further research may add another variable that influence on earnings response coefficient.

scholarly journals PENGARUH KEBIJAKAN HUTANG, KEBIJAKAN DIVIDEN, PROFITABILITAS, PERTUMBUHAN PENJUALAN DAN KESEMPATAN INVESTASI TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI

2019 ◽  
Vol 6 (2) ◽  
pp. 201
Author(s):  
Vivi Apriliyanti ◽  
Hermi Hermi ◽  
Vinola Herawaty
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sales Growth ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Investment Opportunity Set ◽  
Debt Policy ◽  
Positive Effect

<p class="Default" align="center"><strong><em>Abstract</em></strong><em></em></p><p class="Default"><em>The purpose of this study was to examine the influence of debt policy, dividend policy,profitability, sales growth and investment opportunity set on firm value with firm size as moderating variable in the manufacturing companies on the Indonesia Stock Exchange (IDX). The population used in this study is a company that is listed on the Indonesia Stock Exchange. The sample used in this study 128 companies with an observation period of 3 (three) years from 2016 to 2018. The method of determining the sample used in this study was the purposive sampling method. The data processing method used in this study is the causality test with multiple regression analysis using SPSS version 23. The independent variables in this study are Debt Policy, Dividend Policy, Profitability, Sales Growth and Investment Opportunity. The moderating variable in this study is Company Size. The dependent variable in this study is firm value. The results of this study indicate that Debt Policy has a positive effect on Firm’s Value, Dividend Policy does not effect on Firm Value, Profitability does not have a positive effect on Firm’s Value, Sales Growth does not effect on Firm’s Value, Investment Opportunity Set does not effect on Firm’s Value, Firm Size does not have a positive effect on Firm’s Value, Firm Size does not strengthen the realtionship between Debt Policy with Firm’s Value, Firm Size does not strengthen the realtionship between Dividend Policy with Firm’s Value, Firm Size does not strengthen the realtionship between Profitability with Firm’s Value, Firm Size does not strengthen the realtionship between Sales Growth with Firm’s Value, Firm Size does not strengthen the realtionship between Investment Opportunity Set with Firm’s Value.</em></p>

scholarly journals Does Profitability, Firm Size, and Investment Opportunity Set Affect Earnings Quality?

2021 ◽  
Vol 25 (1) ◽  
pp. 54
Author(s):  
Budi Andriani, Mahfud Nurnajamuddin, Khairina Rosyadah
Keyword(s):  
Firm Size ◽  
Stock Exchange ◽  
Earnings Quality ◽  
Sampling Technique ◽  
Ordinary Least Squares ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Financial Reports ◽  
Investment Opportunity Set ◽  
A Company

This paper examines the relative importance of firm size, investment opportunity set, and probability in predicting earnings quality. This study's research method involves using quantitative data. The purpose of this study is to analyze companies in Indonesia that publish financial reports and disseminate them on the Indonesia Stock Exchange. The study population is the financial statements of manufacturing companies in the consumer goods industry sector that are listed on the IDX as many as 50 companies with purposive sampling technique so that it becomes 38 company financial reports with two years of data so that the total sample to 76 financial statement data. The data collected from the Indonesian stock exchange were analyzed by multiple regression using ordinary least squares with the Eviews software (V.11). The results of the study show that profitability, size, and investment opportunity are positively correlated with higher-quality earnings. Consequently, the company's profitability has a positive and significant effect on its financial performance, meaning that the more profitable a company, the stronger its earnings. Company size is positively affected by the earnings quality of a company, meaning that larger companies reward higher quality earnings. The investment opportunity set has a positive and significant effect on earnings quality, which means that earnings quality increases because more investors are interested in investing.

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

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.

scholarly journals FAKTOR YANG MEMPENGARUHI RETURN SAHAM DENGAN KEBIJAKAN DIVIDEN SEBAGAI MODERASI PADA PERUSAHAAN MANUFAKTUR

2021 ◽  
pp. 1079
Author(s):  
Ardiansyah Rasyid ◽  
Rini Tri Hastuti, ◽  
Najaa Aliyah Santoso
Keyword(s):  
Stock Returns ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Processing Technique ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Microsoft Excel ◽  
Purposive Sampling ◽  
Investment Opportunity Set ◽  
Investment Opportunities

This research aims to see how the influence of firm size, leverage, and investment opportunity settings on stock returns with dividend policy as a moderating variable in manufacturing companies listed on the Indonesia Stock Exchange during 2017-2019. The sample was selected by purposive sampling method and the valid data were 52 companies. The data processing technique uses multiple regression analysis assisted by the EViews 10 and Microsoft Excel 2010 programs. The results of this study indicate that the influence and investment opportunities have a significant effect on stock returns, and dividend policy is able to moderate the effect of established investment opportunities on stock returns. The implication of this research is the need for investors to pay attention to the level of debt that the company uses in financing the company's operating activities, as well as the size of the set of investment opportunity set the company has which can affect the stock returns that investors will receive.Penelitian ini bertujuan untuk melihat bagaimana pengaruh pengaturan ukuran perusahaan, leverage, dan peluang investasi terhadap return saham dengan kebijakan dividen sebagai variabel moderasi pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama tahun 2017-2019. Sampel dipilih dengan metode purposive sampling dan data yang valid sebanyak 52 perusahaan. Teknik pengolahan data menggunakan analisis regresi berganda yang dibantu dengan program EViews 10 dan Microsoft Excel 2010. Hasil penelitian menunjukkan bahwa pengaruh dan peluang investasi berpengaruh signifikan terhadap return saham, dan kebijakan dividen ternyata mampu memoderasi pengaruh peluang investasi yang telah ditetapkan terhadap return saham. Implikasi dari penelitian ini adalah perlunya investor memperhatikan tingkat hutang yang digunakan perusahaan dalam membiayai kegiatan operasi perusahaan, serta besarnya set set kesempatan investasi yang dimiliki perusahaan yang dapat mempengaruhi return saham. yang akan diterima investor.

scholarly journals PERAN PROFITABILITAS DALAM MEMEDIASI PENGARUH FINANCIAL LEVERAGE DAN INVESTMENT OPPORTUNITY SET TERHADAP KEBIJAKAN DIVIDEN DI BURSA EFEK INDONESIA

2018 ◽  
pp. 143
Author(s):  
Ni Made Dewi Puspita Sari ◽  
I Gusti Bagus Wiksuana
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Secondary Data ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Financial Leverage ◽  
Opportunity Sets ◽  
Analysis Technique ◽  
Investment Opportunity Set

The purpose of this study was to determine the role of profitability in mediating the effect of financial leverage and investment opportunity set on the dividend policy. The populations in this study were manufacturing companies listed on the Indonesia Stock Exchange. The sampling of the research was done by census and the number of samples were 12 companies. The data of research were secondary data obtained from Indonesia Stock Exchange website and Indonesian Capital Market Directory from 2011 to 2015. Testing of research hypothesis was conducted by using path analysis technique by tool of SPSS application.The results showed that financial leverage has a negative and significant effect on dividend policy. Investment opportunity set has negative and insignificant effect on dividend policy. Financial leverage has a positive and significant impact on profitability. Investment opportunity sets also have a positive and significant impact on profitability. Profitability has a positive and significant effect on dividend policy. Profitability is able to mediate the effect of financial leverage and investment opportunity set on dividend policy.

scholarly journals Pengaruh Asimetri Informasi Pada Kebijakan Dividen Dengan Investment Opportunity Set Sebagai Variabel Pemoderasi

2018 ◽  
pp. 2040
Author(s):  
Ni Putu Linda Yasmita ◽  
Anak Agung Gde Putu Widanaputra
Keyword(s):  
Information Asymmetry ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Investment Opportunity ◽  
Dividend Payout ◽  
Asymmetry Of Information ◽  
Investment Opportunity Set ◽  
Investment Opportunities ◽  
High Investment ◽  
A Company

The purpose of this study is to obtain empirical evidence of investment opportunity capability sets to moderate the influence of information asymmetry on dividend policy. This research was conducted at a manufacturing company listed on Indonesia Stock Exchange 2014-2016. Sampling method used is purposive sampling. The sample size is 30 with 72 observations. Technique Data analysis used is test of Moderated Regression Analysis (MRA). Based on the results of the analysis, it is known that the investment opportunity set is not as a moderator of the influence of information asymmetry on the dividend policy. This suggests that when firms have high investment opportunities with high levels of asymmetry, it is not necessarily that the company will pay low dividends or not share them to the shareholders, since management will manage earnings annually as reserves to be reinvested without reducing the proportion of dividend payout to investors. This study provides implications for investors as a consideration in investing in a company to see how the bid ask and dividend payout ratio of the company's shares. Keywords: asymmetry of information, investment opportunity set, dividend policy

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