scholarly journals ANALISIS PENGARUH KEBIJAKAN DIVIDEN DAN UKURAN PERUSAHAAN TERHADAP LEVERAGE PERUSAHAAN DENGAN INVESTMENT OPPORTUNITY SET (IOS) SEBAGAI VARIABEL MODERASI PADA SEKTOR TRADE, SERVICES & INVESTMENT YANG TERDAFTAR DI BEI

2019 ◽  
Author(s):  
Yakobus Novritwo Sigalingging ◽  
Aminar Sutra Dewi
Keyword(s):  
Firm Size ◽  
Sampling Method ◽  
Dividend Policy ◽  
Secondary Data ◽  
Retail Trade ◽  
Financial Statement ◽  
Investment Opportunity ◽  
Insignificant Effect ◽  
Investment Opportunity Set ◽  
Retail Company

In the year 2017 there is a decrease in buying interest of the community, can be seen from the declining growth rate of business sub-sector that is retail company. This study aims to test empirically analysis of the effect of dividend policy and firm size on corporate leverage with investment opportunity set (IOS) as a moderation variable. The sample is done by using purposive sampling method. The data used are secondary data in the form of financial statement data from the retail industry sub-sector (retail trade) from 2014-2016. The result of this research shows that dividend policy has negative and insignificant effect to company leverage, firm size has negative and significant effect to company leverage. While using Moderated Regression Analysis (MRA) indicates that Investment Opportunity Set (IOS) have positive and insignificant effect to company leverage and Investment Opportunity Set (IOS) also have positive and insignificant effect to company leverage.

scholarly journals PENGARUH KEBIJAKAN DIVIDEN DAN UKURAN PERUSAHAAN TERHADAP LEVERAGE PERUSAHAAN DENGAN INVESTMENT OPPORTUNITY SET (IOS) SEBAGAI VARIABEL MODERASI PADA SEKTOR TRADES, SERVICES & INVESTMENT YANG TERDAFTAR DI BEI

2019 ◽  
Author(s):  
Yakobus Novritwo Sigalingging ◽  
Aminar Sutra Dewi
Keyword(s):  
Regression Analysis ◽  
Dividend Policy ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Multiple Linear Regression Analysis ◽  
Retail Trade ◽  
Financial Statement ◽  
Investment Opportunity ◽  
Investment Opportunity Set ◽  
The Relationship

This study aims to test empirically analysis of the effect of dividend policy andfirm size on corporate leverage with investment opportunity set as a moderation variable.Hypothesis testing in this study using Moderated Regression Analysis (MRA). The sampleis done by using purposive sampling method. The data used are secondary data in theform of financial statement data from the retail industry sub-sector (retail trade) from2014-2016. Statistical methods used multiple linear regression analysis using ModeratedRegression Analysis (MRA) testing, classical assumption, and hypothesis. The results ofthis study indicate that dividend policy has a negative and insignificant effect onleverage, firm size has a positive and significant impact on corporate leverage. Whileusing Moderated Regression Analysis (MRA) indicates that the Investment Opportunity Set(IOS) does not affect the relationship between dividend policy and corporate leverageand Investment Opportunity Set (IOS) also does not affect the relationship betweencompany size and company leverage

scholarly journals KEBIJAKAN PEMBAGIAN DIVIDEN KAS DI PERUSAHAAN SUB SEKTOR PERDAGANGAN ECERAN

2021 ◽  
Vol 7 (2) ◽  
pp. 175-186
Author(s):  
Rochman Marota ◽  
Vinna Oktaviani ◽  
Amelia Rahmi
Keyword(s):  
Cash Flow ◽  
Firm Size ◽  
Sampling Method ◽  
Stock Exchange ◽  
Net Income ◽  
Investment Opportunity ◽  
Purposive Sampling ◽  
Investment Opportunity Set ◽  
Operating Cash Flow ◽  
Retail Trading

ABSTRAKTujuan dari penelitian ini adalah untuk menganalisis pengaruh laba bersih, arus kas operasi, investment opportunity set, dan firm size terhadap dividen kas. Penelitian ini dilakukan pada perusahaan sub perdagangan eceran yang terdaftar di Bursa Efek Indonesia periode 2015–2019. Sampel terdiri dari lima perusahaan yang dipilih dengan menggunakan metode purposive sampling. Penelitian ini menggunakan uji regresi linear berganda untuk menguji hipotesis. Hasil pengujian menunjukkan bahwa laba bersih berpengaruh positif terhadap dividen kas, sedangkan arus kas operasi, investment opportunity set, dan firm size tidak berpengaruh. Hal ini dapat menjadi perhatian bagi perusahaan untuk terus meningkatkan kinerja perusahaan dalam menghasilkan laba bersih. Dengan laba yang tinggi, para investor akan lebih tertarik untuk menginvestasikan dananya. ABSTRACTThe purpose of this study is to analyze the effect of net income, operating cash flow, investment opportunity set, and firm size on cash dividends. This research was conducted on sub-retail trading companies listed on the Indonesia Stock Exchange for the 2015–2019 period. The sample consists of five companies, selected using the purposive sampling method. It uses multiple linear regression to test the hypotheses. Results show that net income affects positively cash dividends. While cash flow, investment opportunity set, and firm size does not affect cash dividends. This can be a concern for the company to continue to improve the company's performance in generating net income. With high profits, investors will be more interested in investing their funds.

scholarly journals PENGARUH PROFITABILITAS, INVESTMENT OPPORTUNITY SET, DAN KEPEMILIKAN MANAJERIAL TERHADAP KEBIJAKAN DIVIDEN (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2013-2016)

Jurnal Ecogen ◽  
2018 ◽  
Vol 1 (2) ◽  
pp. 298
Author(s):  
Puteri Prihatini ◽  
Dessi Susanti
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Secondary Data ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Financial Report ◽  
Investment Opportunity Set ◽  
Negative Effect ◽  
Α Level

The purpose of this study is to analyze the influence of profitability, investment opportunity set, and managerial ownership on dividend policy. The population of this study consists of whole manufacturing companies that listed on Indonesian Stock Exchange (IDX) from 2013 to 2016 by using secondary data. The data have been collected from financial report of companies from Indonesian Stock Exchange (IDX) website and Indonesian Capital Market Directory (ICMD). In this study, the samples are obtained 21 companies out of 145 companies. Analytical method that is used is multiple regression analysis. The hypothesis is measured by using statistical t-test with α level of 5%. The results indicate that profitability gives negative effect but does not significant on dividend  policy of manufacturing companies that listed on Indonesian Stock Exchange (IDX). Meanwhile, investment opportunity set and managerial ownership give positive effect and also significant on dividend policy of manufacturing companies that listed on Indonesian Stock Exchange (IDX).Keyword: profitability, investment opportunity set, managerial ownership, and dividend policy

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 PENGARUH INVESTMENT OPPORTUNITY SET TERHADAP KEBIJAKAN DIVIDEN DENGAN FIRM SIZE SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN MANUFAKTUR TAHUN 2011-2013 DI BEI

2019 ◽  
Vol 5 (2) ◽  
pp. 39-49
Author(s):  
Abrianita Vika Nur Maharsi ◽  
Siti Puryandani ◽  
Rudi Suryo Kristanto
Keyword(s):  
Firm Size ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Absolute Difference ◽  
Investment Opportunity ◽  
Book Value ◽  
Research Investment ◽  
Investment Opportunity Set ◽  
Debt Policy

  Dividend policy is a decision to define the part received by shareholders according to the funds they invest as well as the part that will be retained by the company. Dividend payout ratio has been discussed in the financial sector by several researchers since 1961 when Miller and Modigliani proposed the theory of “Signalling Hypothesis”. There are many variables that affect dividend policy including profitability, debt policy, liquidity, growth, investment opportunity set,etc. In this research, Investment Opportunity Set (IOS) is choosen according to the hardness of this observation, the main purpose of this research is to study the proxy of IOS exactly. This research aimed to empirically test the effect of set investment opportunity to the dividend policy. The tested variable in this study was investment opportunity set measured by market-to-book value of equity while the moderating variable was firm size. The sample was 16 companies listed on Indonesian Stock Exchange (I.S.E) 2011-2013 selected through purposive sampling technique. The analytical statistic was a simple linear regression to test the absolute difference value of moderation. The results showed that the investment opportunity set has significant effect on dividend policy because the value of significance IOS less than rate of significance (0,045<0,05), it means that firm size moderation can be used as moderator between investment opportunity set and dividend policy because the value of significance firm size less than rate of significance (0,041<0,05).

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 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.

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