scholarly journals ANALISIS PENGARUH KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN DAN EARNING PER SHARE SEBAGAI VARIABEL PEMODERASI PADA PERUSAHAAN YANG TERGABUNG DALAM JAKARTA ISLAMIC INDEX (JII)

2019 ◽  
Vol 12 (2) ◽  
pp. 148
Author(s):  
Muwidha Muwidha ◽  
Mahmudatul Himma ◽  
Riwajanti Riwajanti
Keyword(s):  
Capital Market ◽  
Expected Profit ◽  
Net Income ◽  
Stock Performance ◽  
Dividend Payment ◽  
Payment Policy ◽  
Real Signal ◽  
Company Value ◽  
Positive Effect

This study aims to analyze the role of Dividend Policy and Stock Performance in moderating Profitability within creating Company Value. The population during the analysis period was 30 companies. After sampling with a purposive approach obtained a sample of 17 companies. Descriptively known value The profitability proxied by the value of ROA of 38.72% while the value of the company proxied by Tobin’s Q is averaging 1.02. In theory ROA has a strong positive effect on Company Value. The findings in the study indicate that ROA does have a positive effect but only 6.6% is significant. This result explains that investors still believe that profit is a real signal of the expected profit. These two conditions relate that investors in the sharia-based capital market are not fair in valuing companies. Because profitability is not a concern even the dividend payment policy is not considered capable of giving a signal in appreciating the company, but net income in real terms is precisely what is expected.

scholarly journals Determinasi Free Cash Flow Terhadap Return on Equity Dan Kebijakan Pembayaran Dividen

2018 ◽  
Vol 2 (2) ◽  
pp. 129
Author(s):  
Mardiyani Mardiyani
Keyword(s):  
Path Analysis ◽  
Cash Flow ◽  
Payout Policy ◽  
Positive Influence ◽  
Free Cash Flow ◽  
Net Income ◽  
Manufacturing Companies ◽  
Dividend Payment ◽  
Return On Equity ◽  
Payment Policy

Abstract. This study aims to find out the effect of Free Cash Flow on Return On Equity and dividend payment policy on consumption sector manufacturing companies for the period 2012-2016. The research method uses causal associative with a sample of 14 companies for 5 years. As for data processing techniques using the LISREL 8.8 Path Analysis format. The results showed that there was a positive influence between Free Cash Flow, ROE and dividend payment policy. This means that if the value of the Free Cash Flow and ROE of the company increases, the shareholder dividend will be higher. The effort that must be made by the company to increase shareholder dividends is to limit debt so that the net income obtained is allocated more for reinvestment (Free Cash Flow) so that the ROE and welfare of shareholders increases. Keywords: Dividend Payout Policy, Return On Equity (ROE), Free Cash Flow (FCF) Abstrak. Penelitian ini bertujuan untuk mencari pengaruh Free Cash Flow terhadap Return On Equity dan kebijakan pembayaran dividen pada perusahaan manufaktur sektor Konsumsi periode 2012-2016. Metode penelitian menggunakan asosiatif kausal dengan sampel sebanyak 14 perusahaan selama 5 tahun. Adapun teknik pengolahan data menggunakan Path Analysis format LISREL 8.8. Dari hasil penelitian didapatkan bahwa terdapat pengaruh positif antara Free Cash Flow, ROE dan kebijakan pembayaran dividen, yang artinya jika nilai Free Cash Flow dan ROE perusahaan meningkat maka dividen pemegang saham akan semakin tinggi. Upaya yang harus dilakukan perusahaan untuk meningkatkan dividen pemegang saham adalah dengan membatasi hutang agar net income yang diperoleh lebih banyak dialokasikan untuk reinvestasi (Free Cash Flow) sehingga ROE dan kesejahteraan pemegang saham meningkat. Kata Kunci : Kebijakan pembayaran dividen, Return On Equity (ROE), Free Cash Flow (FCF).

Profitability to the Value of Companies with the Dividend Policy as Moderate

2019 ◽  
Vol 118 (4) ◽  
pp. 54-58
Author(s):  
Retno Fuji Oktaviani ◽  
Anissa Amalia Mulya
Keyword(s):  
Capital Market ◽  
Stock Prices ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Research Model ◽  
Corporate Value ◽  
Manufacturing Companies ◽  
Business World ◽  
Company Value

The current development of the Indonesia Stock Exchange can not be separated by the role of investors who have invested companies that have gone public is to increase the value of the company. Companies that share capital to the capital market. The main objective has a good corporate value, also has increased the welfare of ownership or shareholders. Business development continues to progress so rapidly. Intense competition makes many companies take steps to optimize the value of the company to survive in the business world. Company value is a measure of success over the implementation of financial functions and also describes the welfare of the owners of the company. Manufacturing companies continue to experience an increase in stock prices. The increase in stock prices certainly increases the value of the company. The results showed that capital structure, profitability and moderation of dividend policy have influence to company value, with value of 45,8% research model can explain its contribution to company value

scholarly journals Catering approach to the dividend payment policy on the Warsaw Stock Exchange

Equilibrium ◽  
2015 ◽  
Vol 10 (2) ◽  
pp. 183
Author(s):  
Aleksandra Pieloch-Babiarz
Keyword(s):  
Capital Market ◽  
Stock Exchange ◽  
Rank Correlation ◽  
Coefficient Of Determination ◽  
Dividend Payment ◽  
Payment Policy ◽  
Empirical Verification ◽  
Spearman’S Rank Correlation ◽  
Spearman’S Rank Correlation Coefficient ◽  
Warsaw Stock Exchange

Dividend payment policy is a significant issue of neoclassical theories of finance. One of the concepts which poses a challenge tothe neoclassical approach to dividend payment policy is behavioural finance, including a catering theory of dividends. The aim of the article is to examine whether and to what extent the catering theory of dividends is reflected in the behaviour of shareholders and managers on the WSE. The opportunity to accomplish the aim of this paper was conditioned by the empirical verification of research hypothesis stipulating that the number of dividend payers increases if the dividend payers are priced by the capital market higher that the nonpayers. The empirical verification of hypothesis was conducted basing on the equal- and value-weighted dividend premium as well as dividend payment ratios. Moreover, descriptive statistics, Spearman's rank correlation coefficient, linear regression and coefficient of determination were used. The study was carried out on the basis of companies operating in the electromechanical industry sector that were listed on the WSE in the period between 1999-2013. The figures were taken from the Stock Exchange Yearbooks, Notoria Serwis database and GPWInfostrefa platform. The preliminary results of empirical research in the range of the catering theory of dividends allow to draw a conclusion that this theory may be useful in explaining the dividend policy conducted by electromechanical industry companies listed on the WSE.

scholarly journals Moderasi Perbedaan Opini terhadap Faktor-Faktor Kinerja Harga Saham pada Perusahaan Sektor Pariwisata Saat Pandemi Covid-19

2021 ◽  
Vol 31 (10) ◽  
pp. 2663
Author(s):  
I Gst Ayu Eka Damayanthi ◽  
Ni Ketut Lely Aryani Merkusiwati
Keyword(s):  
Stock Returns ◽  
Capital Market ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Price Performance ◽  
Tourism Sector ◽  
Differences Of Opinion ◽  
Positive Effect

An uncertain and crisis-prone economy has an impact on the capital market in Indonesia. This study aims to analyze the effect of profitability, leverage , liquidity and differences of opinion on stock price performance and the role of investors' differences of opinion in moderating the effect of profitability, leverage , and liquidity on stock price performance. The population in this study is the tourism sector companies listed on the Indonesia Stock Exchange. The number of research observations was 136 observations. Data analysis used moderated regression analysis. The results of the study of profitability and leverage have a positive effect on stock returns . Leverage  which has no significant effect on stock returns . The results of this study also do not prove that differences in investor opinions moderate the effect of profitability, leverage , liquidity on stock price performance, possibly because tourism sector companies are not very favored by investors so that stock prices do not move much during the Covid-19 pandemic. Keywords: Profitability; Leverage; Liquidity; Stock Price Performance.

scholarly journals Analisis Implikasi Kebijakan Dividen Terhadap Pertumbuhan Perusahaan Dan Kinerja Saham Studi Kasus Pada Pt Mitra Pinasthika Mustika Tbk Yang Terdaftar Di Bursa Efek Indonesia

2019 ◽  
Vol 7 (1) ◽  
pp. 153-161
Author(s):  
Andre Andre ◽  
Annaria Magdalena Marpaung ◽  
Ani Mekaniwati
Keyword(s):  
Stock Price ◽  
Dividend Policy ◽  
Share Price ◽  
Financial Reports ◽  
Stock Performance ◽  
Dividend Payment ◽  
Dividend Policies ◽  
Company Value ◽  
The Interest Rate ◽  
Retained Earnings

This research was conducted using financial reports from companies engaged in retail distribution sector during the periods of 2013-2016 using financial ratios analysis. These ratios described how profitability, assets management and company’s equity are affecting the dividend policy. We can conclude that dividend policy has major impact on the company’s growth and stock performance. The results show that a slight decrease in the stock price will also cause a decrease in the profit and eventually causing decrease to the earning per share. The dividend per share experiences an increase because these companies still intent to pay the dividend among their share holders to maintain share price. Share price declines due to the interest rate policies of Bank Indonesia and the value of export import. These companies have run proper dividend policies by maintaining the growth and company value, seen from the increasing portion of retained earnings and the portion of dividend payment. Thus the decreasing price of share is mostly caused by external factors.  

scholarly journals Pengaruh Buy Back Saham PT Telkom terhadap Dividen Periode 2005 - 2008

2010 ◽  
Vol 1 (1) ◽  
pp. 27
Author(s):  
Natasya Rusbandi ◽  
Mohamad Heykal
Keyword(s):  
Capital Market ◽  
Stock Price ◽  
Global Financial Crisis ◽  
Dividend Payment ◽  
Financial Report ◽  
Corporate Action ◽  
Buy Back ◽  
The Global Financial Crisis ◽  
Positive Effect

Micro and macro economic condition has negative and positive effect for the financial market and also the investment. Based on that condition, many companies had to do some corporate action which mean investors and also shareholders had to adjust their portfolio for getting their objective. Investors and shareholder will see this corporate action. It includes the investor who wants to buy the company’s stock. This attention had always related with the dividend payment which will get by the investor, because for the long term investor, or the shareholders, the information about dividend payment is very important for them. When global financial crises happened in 2008, some of the emiten in Indonesia capital market, had donne their corporate action which is the buy back or repurchase stock of their outstanding shares. Some of them is the state owned enterprise, PT TELKOM. Some important thing which related with the buy back is the stock price and also dividend price. With this buy back strategy, it can be seen that PT TELKOM had tried to eliminate any threat with their stock price at that time, or to prevent their stock price become undervalued. Especially in the third quarter in 2008. This strategy had shown succeed because when the global financial crisis happened, TELKOM performance had indicated succeed based on their financial report and also the EPS and DPS every year did not show significance different result. 

scholarly journals The role of independent commissioner in the effect of family ownership on capital structure in family companies in Indonesia

2020 ◽  
Vol 10 (2) ◽  
pp. 135
Author(s):  
Rahmat Setiawan ◽  
Nunik Dwi Kusumawati
Keyword(s):  
Capital Structure ◽  
Capital Market ◽  
Stock Exchange ◽  
Financial Statements ◽  
Family Ownership ◽  
Significant Negative Effect ◽  
Negative Effect ◽  
Positive Effect ◽  
Observation Period

The purpose of this research is to analyze the effect of family ownership on capital structure with independent commissioner as a moderating variable in family companies in Indonesia. The study used the population consisting of  family businesses listed on Indonesia Stock Exchange. The data were taken from  the Indonesian Capital Market Directory (ICMD), financial statements, and annual report and the observation period was done from 2012 to 2018. The sampe was taken by  a purposive sampling based  the specified criteria. Based on the analysis result, it can be concluded that family ownership has a significant negative effect on capital structure. Independent commissionerweakens significantly the negative effect of family ownership on capital structure. Furthermore,firm sizehas a significant positive effect on capital structure, but profitability has a significant negative effect on capital structure.

Potential Uses of Vinegar as a Medicine and Related in vivo Mechanisms

2016 ◽  
Vol 86 (3-4) ◽  
pp. 127-151 ◽  
Author(s):  
Zeshan Ali ◽  
Zhenbin Wang ◽  
Rai Muhammad Amir ◽  
Shoaib Younas ◽  
Asif Wali ◽  
...  
Keyword(s):  
Chemical Structure ◽  
Review Paper ◽  
Heart Diseases ◽  
Folk Medicine ◽  
Active Role ◽  
Current Review ◽  
Different Types ◽  
Positive Effect

While the use of vinegar to fi ght against infections and other crucial conditions dates back to Hippocrates, recent research has found that vinegar consumption has a positive effect on biomarkers for diabetes, cancer, and heart diseases. Different types of vinegar have been used in the world during different time periods. Vinegar is produced by a fermentation process. Foods with a high content of carbohydrates are a good source of vinegar. Review of the results of different studies performed on vinegar components reveals that the daily use of these components has a healthy impact on the physiological and chemical structure of the human body. During the era of Hippocrates, people used vinegar as a medicine to treat wounds, which means that vinegar is one of the ancient foods used as folk medicine. The purpose of the current review paper is to provide a detailed summary of the outcome of previous studies emphasizing the role of vinegar in treatment of different diseases both in acute and chronic conditions, its in vivo mechanism and the active role of different bacteria.

External Factors of Big Business Transformation in Russia

2005 ◽  
pp. 72-89 ◽  
Author(s):  
Ya. Pappe ◽  
Ya. Galukhina
Keyword(s):  
Financial Market ◽  
Capital Market ◽  
Business Groups ◽  
External Factors ◽  
Big Business ◽  
Business Transformation ◽  
Global Standards ◽  
The World ◽  
Principal Subject

The paper is devoted to the role of the global financial market in the development of Russian big business. It proves that terms and standards posed by this market as well as opportunities it offers determine major changes in Russian big business in the last three years. The article examines why Russian companies go abroad to attract capital and provides data, which indicate the scope of this phenomenon. It stresses the effects of Russian big business’s interaction with the world capital market, including the modification of the principal subject of Russian big business from integrated business groups to companies and the changes in companies’ behavior: they gradually move away from the so-called Russian specifics and adopt global standards.

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