scholarly journals PENGARUH SET PELUANG INVESTASI, RASIO PEMBAYARAN DIVIDEN DAN BEBAN KEUANGAN TERHADAP PRICE BOOK VALUE PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2012 - 2016

2020 ◽  
Vol 3 (1) ◽  
pp. 27
Author(s):  
SUTIMAN SUTIMAN
Keyword(s):  
Investment Opportunity ◽  
Financial Leverage ◽  
Dividend Payout ◽  
Book Value ◽  
Investment Opportunity Set

ABSTRAK Kajian ini bertujuan untuk mengkaji kesan penentuan peluang pelaburan, nisbah pembayaran dividen dan leverage kewangan ke atas nilai buku harga dalam syarikat pembuatan dalam tempoh 2012-2016. Kaedah analisis yang digunakan adalah regresi liga berganda menggunakan program SPSS 20.0. Keputusan menunjukkan bahawa peluang pelaburan serentak, set peluang pelaburan dan leverage kewangan mempengaruhi nilai buku harga. Walaupun sebahagiannya menetapkan peluang pelaburan dan nisbah pembayaran dividen memberi kesan kepada nilai buku harga. Manakala leverage kewangan dan nisbah pendapatan harga tidak menjejaskan nilai buku harga. Kata kunci: investment opportunity set, dividend payout ratio, financial leverage, price book value

scholarly journals THE EFFECT OF INVESTMENT OPPORTUNITY SET, LAGGED DIVIDEND AND MANAGERIAL OWNERSHIP ON DIVIDEND POLICY

2021 ◽  
Vol 4 (1) ◽  
pp. 112-120
Author(s):  
Rossiana Sita Ayu Gennusi ◽  
Novera Kristianti Maharani
Keyword(s):  
Dividend Policy ◽  
Linear Regression Analysis ◽  
Financial Statements ◽  
Multiple Linear Regression Analysis ◽  
Managerial Ownership ◽  
Investment Opportunity ◽  
Dividend Payout ◽  
Book Value ◽  
Investment Opportunity Set ◽  
Sampling Procedures

The purpose of this study is to examine the factors that influence dividend policy in companies in the consumption industry sector between 2017 and 2019. The market to book value of equity can be used to calculate the investment opportunity set, the lagged dividend can be calculated using the dividend payout ratio from the previous year, managerial ownership can be calculated as a percentage of total share ownership divided by total company shares, and dividend policy can be calculated using the dividend payout ratio. Purposive sampling procedures were used to collect data, and the results were analyzed using multiple linear regression analysis. This study drew 60 samples from a total population of 168. The data is secondary in nature and derived from financial statements. The results of hypothesis testing indicate that investment opportunity set, lagged dividend, and managerial ownership all have an effect on dividend policy. And, to a lesser extent, the investment opportunity set affects dividend policy, while lagged dividends have no effect on dividend policy.

scholarly journals Pengaruh Return On Equity (ROE), Debt To Equity Ratio (DER), Investment Opportunity Set (IOS), dan Inflasi terhadap Dividend Payout Ratio (DPR) (Studi : Pada Perusahaan Property and Real Estate yang Listed di BEI Tahun 2006-2009)

2018 ◽  
Vol 4 (2) ◽  
pp. 154
Author(s):  
ACHMAD KAUTSAR
Keyword(s):  
Real Estate ◽  
Industrial Development ◽  
Stock Exchange ◽  
Investment Opportunity ◽  
Dividend Payout ◽  
Return On Equity ◽  
Investment Opportunity Set ◽  
Equity Ratio ◽  
Sample Amount ◽  
Real Estate Company

Industrial development real estate and properties in Indonesia drove the rapid post-financial crisis in 1998, indicated by increasing capacity of national property and reduced level of NPL property loans. On the other, the distribution of dividend to shareholders decreased, even many who do not share. The research was also supported by the existence of the research gap from previous studies. This study aims to examine the influence of Return On Equity (ROE), Debt to Equity Ratio (DER), Investment Opportunity Set  (IOS), and Inflation toward Dividend Payout Ratio (DPR) on property and real estate companies which listed on Indonesian Stock Exchange 2006-2009. Data sample amount of 6 companies from 41 companies those listed on Indonesian Stock Exchange. The analysis indicates that ROE variable partially significant toward DPR in property and real estate company which is listed in BEI over period 2006- 2009. While the DER, IOS and Inflation variable partially not significant toward DPR

scholarly journals THE EFFECTS OF LIFE CYCLE AND FREE CASH FLOW ON DIVIDEND OF AGRICULTURAL COMPANIES THAT LISTED IN INDONESIA STOCK EXCHANGE

2020 ◽  
Vol 9 (2) ◽  
pp. 121
Author(s):  
Helma Malini ◽  
Venu Fitratama
Keyword(s):  
Life Cycle ◽  
Cash Flow ◽  
Firm Size ◽  
Negative Impact ◽  
Stock Exchange ◽  
Free Cash Flow ◽  
Investment Opportunity ◽  
Dividend Payout ◽  
Independent Variables ◽  
Investment Opportunity Set

Company decision to give profits to their investors is based on several reasons including internal policy from the company. Therefore, this study discusses the effects of life cycle and free cash flow on dividend of agricultural companies that listed in Indonesia stock exchange. Independent variables; used are free cash flow, life cycle, firm size, leverage, assets growth, and investment opportunity set. The population in this study is Agricultural company listed on Indonesia Stock Exchange (BEI) in the period of 2015 - 2018. The sample collected using purposive sampling methods. Total of 21 companies were determined as samples. The method of analysis in this study is panel data regression with basis on fixed effect model. The result of this study indicate that the independent variables of free cashflow, life cycle, firm size, leverage, and investment opportunity set have positive impact toward dividend payout ratio while assets growth has negative impact on dividend payout ratio. The result of determination coefficient shows that the independent variables give affect 63.69% against dependent variable.Keywords: Free cash flow, Life cycle, Firm size, Leverage, Assets growth, Investment opportunity set, Dividend payout ratio, Dividend policy

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 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

scholarly journals ASOSIASI ANTARA PERUBAHAN HARGA SAHAM DAN INVESTMENT OPPORTUNITY SET PERUSAHAAN MANUFAKTUR YANG LISTING DI BURSA EFEK INDONESIA

2018 ◽  
Vol 15 (1) ◽  
Author(s):  
Indah Martati
Keyword(s):  
Stock Market ◽  
Firm Value ◽  
Common Factor ◽  
Capital Expenditures ◽  
Pool Data ◽  
Manufacturing Companies ◽  
Investment Opportunity ◽  
Financing Policy ◽  
Book Value ◽  
Investment Opportunity Set

This research is aimed at examining the relationship between the actual Stock return toward the investment opportunity set (IOS) as the growth proxy of manufacturing companies which listing at Indonesian Stock Market. The IOS proxies used are market to book value of equity (MBVE), market to book value of assets (MBVA), price earning ratio (PER), Firm Value to book value of property, plant and equipment (VPPE), ratio capital expenditures to book value of asset (CEBVA), and ratio capital expenditures to market value of asset (CEMVA).The value of each indicators analysed by using common factor analysis. The normality data is tested by using one sample kolmogorov smirnov test continued with correlation test non parametric correlation model Kendall’s tau b. The purposive sampling is used in this research for ten years observation (1998 – 2007) with pool data method. The number of sample used is 240 manufacturing companies that listing at Indonesian Stock Market. The result of the research show that the direct and indirect correlation only occurs partially toward  market to book value of assets (MBVA) proxy. It indicates that there is direct and indirect positive relation through firm realized growth  and financing policy intervening variable but  it does not occur to the  composite IOS  proxies. 

scholarly journals PENGARUH INVESTMENT OPPORTUNITY SET, CORPORATE SOCIAL RESPONSIBILITY, DAN RISIKO BISNIS TERHADAP NILAI PERUSAHAAN

2021 ◽  
Vol 11 (2) ◽  
pp. 154
Author(s):  
Muhammad Fuad Alamsyah ◽  
Widyawati Malanua
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Capital Expenditure ◽  
Business Risk ◽  
Investment Opportunity ◽  
Book Value ◽  
Investment Opportunity Set ◽  
Value Equity ◽  
Corporate Social

This study aims to determine the effect of investment opportunity set, corporate social responsibility and business risk on firm value. Investment opportunity set is measured using market book value equity, capital expenditure to book value of assets and corporate social responsibility is measured by corporate social responsibility disclosure index and business risk is measured by business risk in banking sub-sector companies listed on the Indonesia Stock Exchange (IDX) in 2015-2019. the method of determining the sample using purposive sampling then obtained a sample of 39 companies. The data analysis technique used is multiple regression analysis. The results showed that the investment opportunity set consisting of market book value equity had a significant effect on firm value, capital expenditure to book value of assets had no significant effect on firm value, corporate social responsibility had a significant effect on firm value, and business risk had no effect on firm value.

scholarly journals FAKTOR-FAKTOR YANG MEMPENGARUHI INVESTMENT OPPORTUNITY SET TERHADAP KEBIJAKAN HUTANG DAN FREE CASH FLOW

2018 ◽  
Vol 1 (2) ◽  
pp. 1-14
Author(s):  
Tumpal Manik
Keyword(s):  
Cash Flow ◽  
Capital Expenditure ◽  
Market Value ◽  
Free Cash Flow ◽  
Share Price ◽  
Price Ratio ◽  
Investment Opportunity ◽  
Book Value ◽  
Investment Opportunity Set ◽  
Equity Ratio

Penelitian ini bertujuan untuk menganalisis faktor-faktor yang mempengaruhi investment opportunity set terhadap kebijakan hutang dan free cash flow pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2016 – 2017. Pengambilan sampel dilakukan dengan metode purposive sampling. Jumlah populasi 168 yang memenuhi kriteria sebanyak 40 perusahaan, maka data penelitian 40 x 2 tahun yaitu 80 data. Pengolahan data penelitian untuk menguji hipotesis penelitian secara simultan dan parsial. Hasil penelitian bahawa faktor-faktor yang mempengaruhi investment opportunity set terhadap kebijakan hutang berpengaruh singnifikan, antara lain proksi ios berdasarkan Market to Book Value of Assets Ratio sebesar 16,1%, Market to Book Value Equity Ratio sebesar 18,2%, Earning per Share Price Ratio (sebesar 19,1%, Capital Expenditure to Book Value Asset Ratio sebesar 17,6%, Capital Expenditure to Market Value of Assets Ratio sebesar 15%. Sedangkan investment opportunity set terhadap free cash flow berpengaruh signifikan

Sign in / Sign up

Export Citation Format

Share Document