KEPEMILIKAN SAHAM, KEBIJAKAN DIVIDEN, KARAKTERISTIK PERUSAHAAN, RISIKO SISTIMATIK, SET PELUANG INVESTASI  DAN KEBIJAKAN HUTANG

The purpose of the research was to obtain empirical evidence that managerial and institutional ownership, divide nd policy, firm growth, profitability, firm size, systematic risk, investment opportunity set and asset structure affect debt policy. The population in this research are all companies that listed in Indonesia Stock Exchange with the observation period 2005 to 2008. The sample selection was done by using purposive sampling method. Data used in this research was obtained from financial statement and Fact Book, performance summary of listed companies and BAPEPAM - LK . Data analysis used a multiple regression analysis. The results of this research are managerial ownership, cash dividend policy, profitability, firm size, investment opportunity set and asset structure affect debt policy. While the institutional ownership, firm growth and systematic risk not affect debt policy. Manager who owns shares in his company tends to use funds from retained earnings and share capital. They will distribute cash dividends to attract in - vestors to buy shares. Source of funds from obligation providing a risk to the company.

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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

Jurnal Ekonomi ◽

10.24912/je.v20i3.406 ◽

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.

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

Jurnal Magister Akuntansi Trisakti ◽

10.25105/jmat.v6i2.5558 ◽

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

AbstractThe 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.

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

Magisma: Jurnal Ilmiah Ekonomi dan Bisnis ◽

10.35829/magisma.v5i2.26 ◽

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).

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PENGARUH STRUKTUR KEPEMILIKAN MANAJERIAL, STRUKTUR KEPEMILIKAN INSTITUSIONAL, SET KESEMPATAN INVESTASI, UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN

Jurnal Ekonomi dan Bisnis Airlangga ◽

10.20473/jeba.v27i12017.5514 ◽

2017 ◽

Vol 27 (1) ◽

Author(s):

Purwo Adi Nugroho

Keyword(s):

Firm Size ◽

Ownership Structure ◽

Firm Value ◽

Stock Exchange ◽

Institutional Ownership ◽

Managerial Ownership ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

Real Estate Company ◽

Observation Period

The main purpose of this study was to determine the effect of managerial ownership structure, institutional ownership structure, investment opportunity set and firm size on firm value. The population of this study is a real estate company that listed on the Indonesia Stock Exchange with the observation period 2008 to 2012. Data obtained by the method of purposive sampling and the 42 companies sampled each year. The method of analysis used is multiple linear regression by using SPSS 20.0. The results of this study indicate that: (1) managerial ownership structure has no effect on firm value, (2) institutional ownership structure has significant effect on firm value, (3) investment opportunity set has significant effect on firm value, and (4) firm size has significant effect on firm value. Key words: managerial ownership structure, institutional ownership structure, investment opportunity set, firm size and firm value

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PENGARUH KEPEMILIKAN MANAJERIAL, KEPEMILIKAN, INSTITUSIONAL, KEBIJAKAN DIVIDEN, STRUKTUR ASET, PROFITABILITAS, PERTUMBUHAN PERUSAHAAN, RISIKO BISNIS, DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN UTANG PADA PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

JURNAL INFORMASI, PERPAJAKAN, AKUNTANSI, DAN KEUANGAN PUBLIK ◽

10.25105/jipak.v12i1.4580 ◽

2019 ◽

Vol 12 (1) ◽

pp. 63

Author(s):

Azalia Bonita ◽

Hotman T Pohan

Keyword(s):

Firm Size ◽

Firm Growth ◽

Dividend Policy ◽

Stock Exchange ◽

Institutional Ownership ◽

Business Risk ◽

Insider Ownership ◽

Statistic Method ◽

Debt Policy ◽

Research Show

The purpose of this research is to analyze the influence of insider ownership, institutional ownership, dividend policy, asset structure, profitability, firm growth, business risk and firm size to debt policy. Population in this research is non financial companies listed in Indonesia Stock Exchange during the study period of years 2011- 2013. The samples of this research are 61 nonfinancial companies. The multiple regression is statistic method which is used to test the research hypothesis. The results of this research show that profitability and firm size have significantly influence the debt policy. While insider ownership, institutional ownership, dividend policy, asset structure, firm growth, and business risk have not influence the debt policy.

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FAKTOR – FAKTOR YANG MEMPENGARUHI KEBIJAKAN HUTANG PADA PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

Jurnal Magister Akuntansi Trisakti ◽

10.25105/jmat.v1i1.4904 ◽

2014 ◽

Vol 1 (1) ◽

pp. 29

Author(s):

Apit Susanti ◽

Sekar Mayangsari

Keyword(s):

Firm Growth ◽

Dividend Policy ◽

Stock Exchange ◽

Sample Selection ◽

Institutional Ownership ◽

Business Risk ◽

Insider Ownership ◽

Independent Variable ◽

Debt Policy ◽

Financial Insurance

The purpose of this research is to examine the effect of insider ownership, institutional ownership, dividend policy, asset structure, profitability, firm growth, and business risk to debt policy. This research is developed based on the previous research carried out by Murni and Andriana (2007). Data were taken from all companies are listed at Indonesian Stock Exchange for three years (2009-2011) except financial, insurance, and other financial industries. Sample selection were based on purposive sampling. Only 45 companies meet the criteria and taken as sample. For this study SPSS 11.5 program is used to find out the effect from all independent variable above to dependent variable. The statistical used in this research was multiple regression. The research showed that institutional ownership, asset structure, profitability, and firm growth had effect to debt policy but insider ownership, dividend policy, and business risk had no effect to debt policy.

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PENGARUH STRUKTUR KEPEMILIKAN MANAJERIAL, STRUKTUR KEPEMILIKAN INSTITUSIONAL, SET KESEMPATAN INVESTASI, UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN

Jurnal Ekonomi dan Bisnis Airlangga ◽

10.20473/jeba.v27i12017.73-90 ◽

2017 ◽

Vol 27 (1) ◽

pp. 73

Author(s):

Purwo Adi Nugroho

Keyword(s):

Firm Size ◽

Ownership Structure ◽

Firm Value ◽

Stock Exchange ◽

Institutional Ownership ◽

Managerial Ownership ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

Real Estate Company ◽

Observation Period

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Faktor-faktor yang mempengaruhi kebijakan hutang perusahaan non keuangan publik

Jurnal Bisnis dan Akuntansi ◽

10.34208/jba.v19i1.69 ◽

2018 ◽

Vol 19 (1) ◽

pp. 103-116

Author(s):

SORAYA SORAYA ◽

MEIRYANANDA PERMANASARI

Keyword(s):

Dividend Policy ◽

Stock Exchange ◽

Selection Procedure ◽

Institutional Ownership ◽

Business Risk ◽

Investment Opportunity ◽

Tax Shield ◽

Investment Opportunity Set ◽

Debt Tax Shield ◽

Debt Policy

The purpose of this research is to get an empirical evidence about influence of non-debt tax shield, tangibility, profitability, growth, size, manajerial ownership, institutional ownership, dividend policy, business risk, and investment opportunity set on debt policy. The population of this research are allnon financial companies listed in Indonesia Stock Exchange (IDX) from the period of 2010 to 2013. Sample selection procedure carried out by implementing purposive sampling method with total sample 33 non financial companies. Data are analyzed using multiple regression analysis. The result indicates that non-debt tax shield, tangibility, profitability, growth, size, institutional ownership, and dividend policy have influence toward debt policy. Other independent variables such as manajerial ownership, business risk, and investment opportunity set do not have influence toward debt policy.

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Testing of Investment Opportunity Set (IOS), firm size, and risk of investment as variables that affect dividend policy in property and real estate companies listed on the Indonesia Stock Exchange (BEI) during the 2013–2017 period

The Future Opportunities and Challenges of Business in Digital Era 4.0 ◽

10.1201/9780367853778-82 ◽

2020 ◽

pp. 314-317

Author(s):

Hidayah Wiweko ◽

Igo Febrianto ◽

Shavira Putri Darayani

Keyword(s):

Real Estate ◽

Firm Size ◽

Dividend Policy ◽

Stock Exchange ◽

Investment Opportunity ◽

Investment Opportunity Set

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KEBIJAKAN PEMBAGIAN DIVIDEN KAS DI PERUSAHAAN SUB SEKTOR PERDAGANGAN ECERAN

JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi) ◽

10.34204/jiafe.v7i2.3800 ◽

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.

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