scholarly journals HUBUNGAN PROFITABILITAS DAN DIVIDEN TUNAI DENGAN ICECUKUPAN KAS DAN LIKUIDITAS SEBAGAI MODERATING VARIABLE

2007 ◽  
Vol 7 (2) ◽  
pp. 141
Author(s):  
Megawati Olctorina ◽  
Michell Suharti
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
The Other ◽  
Cash Dividend ◽  
Continuous Growth ◽  
Return On Equity ◽  
Other Hand ◽  
Dividend Distribution ◽  
The Relationship ◽  
A Company

<p class="Style1"><strong><em>The </em></strong><strong><em>objective of this research is to determine the relationship between profitability and the amount </em></strong><strong><em>of cash dividend policy. However this research examines the influences of cash adequate and </em></strong><strong><em>liquidity (current ratio)toward the relationship between profitability and cash dividend policy. We call </em></strong><strong><em>the influence as moderating variables. In general, investors have primarily objective that is to </em></strong><strong><em>increase their wealth by return as dividend or capital gain. On the other hand, the companyexpects </em></strong><strong><em>continuous growth and its going concern, also increase its stockholder's wealth. Factor that pre­</em></strong><strong><em>dicted influencing dividend distribution amount in this research are focused on profitability. Thus, </em></strong><strong><em>profitabiNy influences cash dividend policy in a company. However cash dividend should be paid </em></strong><strong><em>only when a company has adequate cash and good liquidity ratio. This research examines financial </em></strong><strong><em>statement of several companies are listed at Jakarta Stock Exchange for period ended December </em></strong><strong>31, </strong><strong><em>2000 until December 31, 2003. Data is collected from Jakarta Stock Exchange and Indonesia </em></strong><strong><em>Capital Market Directory 2004. This research uses statistical software TViews version 4,1 ''. The </em></strong><strong><em>result is cash adequate and liquidity moderate relationship between return on investment and cash dividen policy. On the other hand, return on equity has not significant relationship with cash dividend </em></strong><strong><em>Policy</em></strong></p><p class="Style1"><strong><em>Keyword : profitability, cash dividend, cash adequate, liquidity</em></strong></p>

scholarly journals Return on Equity as the Leading Indicator of Dividend Payout Ratio of Jakarta Islamic Index Stocks Listed on the Indonesia Stock Exchange

2020 ◽  
Vol 1 (3) ◽  
pp. 319-330
Author(s):  
Endi Trimawan Budianto ◽  
Eka Bertuah Eka Bertuah
Keyword(s):  
Stock Price ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Cash Dividend ◽  
Dividend Payout ◽  
Return On Equity ◽  
Company Stock ◽  
Financial Condition ◽  
Main Indicator ◽  
Retained Earnings

Dividend policy is a critical and imperative decision because it involves the shareholders interest’s and has a significant impact to company's sustainability. Sartono (2010) states that dividend policy is a decision whether the profits obtained by the company will be distributed to shareholders as dividend or will be held in the form of retained earnings for future investment.Brigham and Gapenski (2006) state that investor’s main purpose when investing their fund is to gain income or return either as dividend yield or as capital gain. On the other side, the company who will share the dividend will be faced with various consideration: the urge to retain some profit for a more promising re-investment, the company funding, company liquidity, shareholder’s characteristic, specific target related to dividend payment ratio, and other factors related to dividend policy.Based on the definition mentioned above, it can be concluded that dividend policy is influenced by two conflicting interests; the shareholders interest with their dividend and the company interest to do re-investment by retaining the profit. Therefore, dividends paid will depend on each company’s considerations.In general, the shareholders wish to have a relatively stable dividend share to minimize the uncertainty of expected investment result and to increase the shareholder’s trust toward the company so that the stock value will rise. The company dividend policy can be reflected by the Dividend Payout Ratio (DPR), which is the profit percentage shared in the form of cash dividend. It means that the size of the DPR, either big or small, will affect the shareholder’s decision and to the contrary it will also affect the company financial condition. Improper decisions will potentially envisage company facing funding difficulties in the future.According to Brigham and Gapenski (2006), the optimum dividend policy is the dividend policy which creating balance between the current dividend and its growth in the future so the company stock price can be maximized.Lintner (1956) argue that the company ability to gain profit is the main indicator of the company ability to pay dividend. So, the profitability is the most determining factor toward dividend. But some other research mention that the companies tend to choose new investment instead of paying high dividend if their condition are great, well-developed and have high profitability.The rapid growth of Islamic Finance become the first-rate consideration of choosing Jakarta Islamic Index stocks as the object research in which this research aimed to improve investor’s understanding related to dividend policy of sharia stocks member of Jakarta Islamic Index.

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 Profitabilitas terhadap Nilai Perusahaan dengan Moderasi Pengungkapan Elemen-Elemen Integrated Reporting

2021 ◽  
Vol 31 (4) ◽  
Author(s):  
Gilang Ryanda Bhimantara ◽  
Agung Dinarjito
Keyword(s):  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Result State ◽  
Integrated Reporting ◽  
Dividend Distribution ◽  
Relationship Of ◽  
Retained Earnings ◽  
The Relationship ◽  
A Company

This paper aims to determine the effect of profitability on firm value and the moderation of disclosure of integrated reporting elements in influencing the relationship of profitability with firm value. The sample is representative of each sector using the purposive stratified sampling method. This research is a quantitative study using a sample of 86 companies listed on the Indonesia Stock Exchange (BEI). Data were analyzed using multiple linear regression and processed using the Stata 13 application. The results show that profitability has no effect on the value of the company. Investors still need to consider the information generated from profitability because of the option to put into retained earnings and dividend distribution that will be taken by the company. The other result state that the integrated reporting elements do not affect the relationship of profitability with firm value because the value of information in the disclosure element is not directly related to the financial information (numbers) of a company. Keywords: Profitability; Firm Value; Integrated Reporting.

scholarly journals THE INFLUENCE OF CREATIVE ACCOUNTING AND OTHER FACTORS TO DIVIDEND PAYOUT RATIO

2019 ◽  
Vol 20 (1) ◽  
pp. 51-58
Author(s):  
METTA TJUNGANDI ◽  
RICKY A. MULYANA
Keyword(s):  
Sampling Method ◽  
Stock Exchange ◽  
The Other ◽  
Sales Growth ◽  
Manufacturing Companies ◽  
Dividend Payout ◽  
Return On Equity ◽  
Purposive Sampling ◽  
Creative Accounting ◽  
Other Hand

The objective of this research is to analyze the influence of creative accounting, liquidity, size, leverage, return on equity and sales growth on dividend payout ratio. Population in this research is all listed manufacturing companies in Indonesia Stock Exchange during 2010 to 2012. Samples are obtained through purposive sampling method, in which 37 listed manufacturing companies in Indonesia Stock Exchange meet the sampling criteria resulting 111 data available are taken as sample. The result of this research shows that return on equity and sales growth have influence to dividend payout ratio. On the other hand, creative accounting, liquidity, size and leverage do not influence dividend payout ratio.

scholarly journals The Relationship between Managers’ Network Awareness and the Relational Strategic Orientation of their Firms: Findings from Interviews with Polish Managers

2018 ◽  
Vol 10 (8) ◽  
pp. 2691 ◽  
Author(s):  
Agnieszka Zakrzewska-Bielawska
Keyword(s):  
Competitive Advantage ◽  
Strategic Orientation ◽  
The Other ◽  
Structured Interviews ◽  
Research Results ◽  
Network Awareness ◽  
Other Hand ◽  
The Relationship ◽  
A Company ◽  
Relational Orientation

The ability to cooperate with others in interorganisational dyads and networks is a source of competitive advantage for firms today. However, the question arises as to whether managers are aware of this and implement relational orientation as a strategy in their firms to obtain relational rent. The purpose of this paper is to provide an answer to this question. The research was conducted on 53 companies based in Poland using semi-structured interviews with executives. On one hand, the research results allowed recognition of the importance of and reasons for firms forming, developing, and withdrawing from interorganisational relations, and on the other hand, confirmed a relationship between a managers’ network awareness and the strategic relational orientation of their firms. The higher the manager’s network awareness, the more interorganisational relations a company forms with different partners, and the better the manager’s knowledge about their partners’ expectations and needs, which are then included in a company’s strategy.

scholarly journals Relationship between Capital Structure and Profitability: Dual Banking Perspective

2020 ◽  
pp. 181-191
Author(s):  
Mudassir Zaman ◽  
Shakir Ullah ◽  
Arshad Ali
Keyword(s):  
Capital Structure ◽  
Stock Exchange ◽  
Banking System ◽  
Financial Statements ◽  
The Other ◽  
Islamic Finance ◽  
Islamic Banks ◽  
Return On Equity ◽  
Conventional Banks ◽  
The Relationship

This study looks into the relationship between the capital structure and profitability of Islamic and conventional banks, listed on the Karachi Stock Exchange extracting data for 250 observations between 2006 and 2016 from their financial statements. The paper uses regression analysis to check the proposed relationship. We found a strong correlation between Debt-to-Equity (D/E) ratio and Return on Equity (ROA) in conventional banks while no significant relationship existed in Islamic banks. The findings can be explained in terms of the different deposit mechanisms employed by the two systems i.e. the conventional banking system considers all deposits as liabilities of the banks while on the other hand Islamic banks only write the current accounts as a debt. The Modaraba-based deposit accounts of Islamic banks are considered as equity. This paper contributes theoretically to the current body of Islamic finance literature in Pakistan. On the practical side, the study suggests that Islamic banks can increase their savings deposits as they pose no risk and have equity-like features.

scholarly journals Analysis the Impact of Profitability, Liquidity, Leverage and Company Size on Dividend Policy

2019 ◽  
Vol 16 (2) ◽  
pp. 1
Author(s):  
Besnedi Abrar ◽  
Riandra Ghazyla ◽  
Dila Arisandi
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
The Other ◽  
Company Size ◽  
Sampled Data ◽  
Manufacturing Companies ◽  
Financial Ratio ◽  
Dependent Variables ◽  
The Impact ◽  
The Relationship

This study aims to determine the impact of financial ratio and company size on dividend policy. Multiple linear regression is used to identify the relationship between the independent and dependent variables. The sampled data was taken from consumer goods manufacturing companies listed on Indonesia Stock Exchange for the period 2015-2017. The result of this study indicated that financial ratios variable proxied by profitability and leverage ratios had a significant impact on dividend policy, while the other variables liquidity and company size had an insignifiant impact on dividend policy.

scholarly journals Ownership and Identities of the Largest Shareholders and Dividend Policy: Evidence From Vietnam

2017 ◽  
Vol 8 (1) ◽  
pp. 86-104 ◽  
Author(s):  
Trien Vinh Le ◽  
Trang Huyen Le
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Fixed Effect Model ◽  
Cash Dividend ◽  
Growth Opportunities ◽  
Foreign Investors ◽  
Dividend Payout ◽  
Effect Model ◽  
Exchange Markets ◽  
The Relationship

This study investigates the relationship between the level of shareholdings and identities of the largest shareholders, and cash dividend policy. The study is conducted with a sample of 180 firms listed on Vietnam stock exchange markets from 2009 to 2013. The fixed effect model is employed to analyze the balanced panel data. The results show that the higher the level of holdings by the largest shareholders, the lower the dividend payout. Moreover, companies with the State and Foreign investors as the largest shareholders have higher dividend payout ratio than companies with local investors and managers as the largest shareholders. The study also finds that companies tend to pay higher dividends when profits decrease or growth opportunities increase.  

scholarly journals Hubungan Antara Laba Perusahaan Dan Kompensasi Ceo Dengan Menggunakan Data Panel

2008 ◽  
Vol 1 (1) ◽  
Author(s):  
Tiarapuspa Tiarapuspa
Keyword(s):  
Panel Data ◽  
Significant Relationship ◽  
Ceo Compensation ◽  
Stock Exchange ◽  
The Other ◽  
Other Hand ◽  
The Relationship

The main purpose of this research is to explain the relationship between profit and CEO compensation. The relationship between CEO compensation and company profit in 1992-1996 from 32 firms that listed in Jakarta Stock Exchange has a different result. Some researches find that there is a significant relationship but in the other hand find there isn’t a significant relationship. This result support generalization or validity external from previous research. This research used panel data to examination this relationship.

scholarly journals Pengaruh Profitabilitas dan Risiko Bisnis terhadap Dividend Payout Ratio melalui Likuiditas sebagai Variabel Moderasi

2020 ◽  
Vol 8 (4) ◽  
pp. 1301
Author(s):  
Nadya Fernanda Salsabilla ◽  
Yuyun Isbanah
Keyword(s):  
Quantitative Research ◽  
Stock Exchange ◽  
Secondary Data ◽  
Business Risk ◽  
Dividend Payout ◽  
Analysis Technique ◽  
Dividend Distribution ◽  
The Relationship ◽  
A Company ◽  
Positive Effect

Dividend policy is a decision in which a company to determine the level of profit to be retained and the level of profits distributed as dividends to shareholders. This research aims to analyze the influence of profitability and business risk on dividend payout ratio with liquidity as moderating variable in Property, Real Estate, and Building Construction sector companies that is listed on the Indonesia Stock Exchange for the 2015-2018 period. The type of this research is a quantitative research and uses secondary data from the annual report on IDX. The sample of this research is 18 companies chosen by purposive sampling method. The data analysis technique used is multiple linear regression and moderated regression analysis (MRA). The results show that profitability has a positive effect on the dividend payout ratio because companies can utilize assets optimally to increase profits. Business risk harms the dividend payout ratio because companies choose to strengthen the capital structure and develop the companies by utilizing profits and investments to reduce business risk. After all, debt cannot always be expected. Liquidity can moderate the relationship between profitability and business risk on dividend payout ratios because liquidity is a consideration to dividend distribution so that it can increase the number of dividends distributed.

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