INFLUENCE INVESTMENT OPPORTUNITY SET, OPERATING PROFIT MARGIN, CASH FLOW FROM OPERATING ACTIVITIES AND CASH FLOW TO EQUITY ON POLICY DIVIDEND ON A METAL COMPANY THAT LISTED ON INDONESIA STOCK EXCHANGE

The research objectives in this study are to find out and analyze the effect Investment Opportunity Set, To find out and analyze the effect Operating Profit Margin, To find out and analyze the effect of Cash flow from operating activities, to find out and analyze the effect Cash flow to Equity to the dividend payout ratio, to determine and analyze the effect of the Investment Opportunity Set, Operating Profit Margin, Cash Flow from Operating Activities and Cash Flow to Equity simultaneously on the Dividend Payout Ratio in metal companies listed on the Indonesia Stock Exchange for the 2016-2020 period. This study uses a quantitative approach, the regression analysis technique used in this study is a multiple linear regression analysis technique. The results of this study indicate that there is an influence between the Investment Opportunity Set on Dividend Policy. There is an effect of Operating Profit Margin on Dividend Policy. There is no influence of Cash Flow From Operating Activities on the Dividend Policy in. There is an effect of Cash Flow to Equity on Dividend Policy and the Fcount Value is 12, 130 with a significant level of 0.000, while Ftable is known to be 2.68. Based on these results, it can be seen that Fcount > Ftable (12,130 > 2,68) so that H0 is rejected and Ha is accepted so it can be concluded that the variables of Investment Opportunity Set, Operating Profit Margin, Cash Flow From Operating Activities, Cash Flow to Equity together have significant influence on the Dividend Policy of Metal Companies Listed on the Indonesia Stock Exchange for the 2016-2020 period.

Download Full-text

INFLUENCE INVESTMENT OPPORTUNITY SET, OPERATING PROFIT MARGIN, CASH FLOW FROM OPERATING ACTIVITIES AND CASH FLOW TO EQUITY ON POLICY DIVIDEND ON A METAL COMPANY THAT LISTED ON INDONESIA STOCK EXCHANGE

MORFAI JOURNAL ◽

10.54443/morfai.v1i1.51 ◽

2021 ◽

Vol 1 (1) ◽

pp. 99-116

Author(s):

Sri Fitri Wahyuni ◽

Fika Rimalansyah Peride

Keyword(s):

Regression Analysis ◽

Cash Flow ◽

Dividend Policy ◽

Stock Exchange ◽

Profit Margin ◽

Investment Opportunity ◽

Operating Profit ◽

Analysis Technique ◽

Investment Opportunity Set ◽

Operating Activities

Download Full-text

Pengaruh Profitabilitas pada Kebijakan Dividen dengan Investment Opportunity Set sebagai Variabel Pemediasi

E-Jurnal Akuntansi ◽

10.24843/eja.2020.v30.i01.p16 ◽

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.

Download Full-text

PENGARUH FREE CASH FLOW, INVESTMENT OPPORTUNITY SET, MANAGERIAL OWNERSHIP TERHADAP DIVIDEN POLICY MELALUI DEBT POLICY SEBAGAI PEMEDIASI

WIDYA MANAJEMEN ◽

10.32795/widyamanajemen.v1i2.355 ◽

2019 ◽

Vol 1 (2) ◽

pp. 40-59

Author(s):

Luh Nik Oktarini ◽

Putu Atim Purwaningrat

Keyword(s):

Data Analysis ◽

Cash Flow ◽

Dividend Policy ◽

Stock Exchange ◽

Free Cash Flow ◽

Managerial Ownership ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

Debt Policy ◽

Program Version

The purpose of this study was to determine the effect of free cash flow to debt policy to determine the influence of investment opportunity set against debt policy to determine the effect of managerial ownership on debt policy to determine the effect of free cash flow to the dividend policy to determine the effect of managerial ownership to dividend policy. This research was conducted on manufaktur companies listed in Indonesia Stock Exchange 2011-2015 period. Methods of data collection is done by using the method of documentation. Data analysis with path analysis with AMOS program version 20. The results showed the effect of variable free cash flow to debt policy is significant, effect of variable investment opportunity set against debt policy is significant, the effect of managerial ownership variable against debt policy is not significantly, the effect of variable free cash flow toward dividend policy is not significant, the effect of managerial ownership variable to dividend policy is a significant and indirect influence of the variable investment opportunity set against the dividend policy through debt policy is significant.

Download Full-text

Pengaruh Investment Opportunity Set dan Profitabilitas terhadap Kebijakan Dividend

Journal of Management and Bussines (JOMB) ◽

10.31539/jomb.v1i1.603 ◽

2019 ◽

Vol 1 (1) ◽

pp. 48-58

Author(s):

Winda Astri HIdayat ◽

R Deni Muhammad Danial ◽

Dicky Jhoansyah

Keyword(s):

Dividend Policy ◽

Stock Exchange ◽

Linear Analysis ◽

T Test ◽

Insurance Companies ◽

Coefficient Of Determination ◽

Investment Opportunity ◽

Simultaneous Test ◽

Analysis Technique ◽

Investment Opportunity Set

The purpose of this study is to determine the effect of investment opportunity set (IOS) and profitability on dividend policy in insurance companies listed on the Indonesia Stock Exchange. The use of the method uses purposive sampling. The analysis technique used is simple linear analysis, multiple linear analysis, and hypothesis testing is a partial statistical test (t test) and simultaneous test (f test). The results of the t test show that the investment opportunity set (IOS (X1) influences positive but not significant to dividend policy, Profitability (X2) has a negative and not significant effect on dividend policy.Based on the F value test together the investment opportunity set and profitability do not have a significant effect on dividend policy (Y) Based on the test the coefficient of determination is 0.361 It can be interpreted that the effect of Investment Opportunity Set (IOS) and Profitability on dividend policy is 13.03%, while the remaining 86.97% is influenced by other factors not explained in this study. Keywords : Investment Opportunity Set, Profitability, Dividend Payout Ratio

Download Full-text

Kepemilikan Manajerial, Kepemilikan Institusional dan Kebijakan Dividen serta Free Cash Flow sebagai Pemoderasi

E-Jurnal Akuntansi ◽

10.24843/eja.2021.v31.i07.p08 ◽

2021 ◽

Vol 31 (7) ◽

pp. 1710

Author(s):

Ni Made Ari Trisna Dewi ◽

Anak Agung Gde Putu Widanaputra

Keyword(s):

Regression Analysis ◽

Cash Flow ◽

Sampling Method ◽

Dividend Policy ◽

Stock Exchange ◽

Institutional Ownership ◽

Free Cash Flow ◽

Managerial Ownership ◽

Manufacturing Companies ◽

Analysis Technique

This study aims to determine the effect of managerial ownership and institutional ownership on dividend policy with free cash flow as a moderating variable. This research was conducted at manufacturing companies listed on the Indonesia Stock Exchange (BEI) in 2015-2019. The sample was selected by means of a purposive sampling method with 42 companies as samples and 210 observations. The analysis technique used in this research is Moderated Regression Analysis (MRA). The results of this study indicate that the higher the managerial ownership, the higher the dividend policy, especially in companies that have high free cash flow, and the higher the institutional ownership, the higher the dividend policy, especially in companies with high free cash flow. Keywords: Managerial Ownership; Institutional Ownership; Free Cash Flow; Dividend Policy.

Download Full-text

PERAN PROFITABILITAS DALAM MEMEDIASI PENGARUH FINANCIAL LEVERAGE DAN INVESTMENT OPPORTUNITY SET TERHADAP KEBIJAKAN DIVIDEN DI BURSA EFEK INDONESIA

E-Jurnal Ekonomi dan Bisnis Universitas Udayana ◽

10.24843/eeb.2018.v07.i01.p06 ◽

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.

Download Full-text

Konservatisme Akuntansi di Indonesia

Jurnal Ekonomi dan Bisnis ◽

10.24914/jeb.v20i1.457 ◽

2017 ◽

Vol 20 (1) ◽

pp. 1

Author(s):

Hans Hananto Andreas ◽

Albert Ardeni ◽

Paskah Ika Nugroho

Keyword(s):

Regression Analysis ◽

Multiple Regression Analysis ◽

Cash Flow ◽

Stock Exchange ◽

Manufacturing Firms ◽

Accounting Conservatism ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

Total Accrual ◽

Company Growth

This study aims to provide empirical evidence on the influence of company growth, profitability, and investment opportunity set (IOS) on the application of the accounting conservatism principles. We measure accounting conservatism using total accrual (earnings before extraordinary items + depreciation – cash flow from operation). We purposively select our sample of 114 manufacturing firms listed in the Indonesian Stock Exchange (IDX) in the years 2012-2013. After running the tests of classical assumptions, our multiple regression analysis partially shows that company growth, profitability, and investment opportunity set positively affect accounting conservatism. Abstrak Dalam penyajian laporan keuangan yang berkualitas, perusahaan dihadapkan oleh pertimbangan yang salah satunya adalah penerapan konservatisme akuntansi. Penelitian ini bertujuan untuk memberikan bukti empiris pengaruh company growth, profitability, dan investment opportunity set (IOS) terhadap penerapan prinsip konservatisme akuntansi. Konservatisme akuntansi dalam penelitian ini diukur menggunakan perhitungan total akrual. Total akrual adalah selisih antara laba sebelum extraordinary item ditambah dengan depresiasi dikurangi dengan arus kas operasi untuk mengetahui apakah perusahaan menggunakan konservatisme akuntansi tinggi atau rendah di dalam perusahaan. Sampel yang digunakan sebanyak 114 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) di tahun 2012 dan 2013. Metoda pemilihan sampel yang digunakan yaitu purposive sampling. Alat analisis yang digunakan untuk pengujian adalah regresi linier berganda yang sebelumnya harus lolos uji asumsi klasik. Hasil pengujian secara parsial menunjukkan company growth, profitability dan investment opportunity set berpengaruh positif signifikan terhadap konservatisme akuntansi.

Download Full-text

Pengaruh Investment Opportunity Set dan Free Cash Flow Pada Kebijakan Dividen dan Nilai Perusahaan

Jurnal Ilmiah Akuntansi dan Bisnis ◽

10.24843/jiab.2016.v11.i02.p01 ◽

2017 ◽

pp. 63

Author(s):

I Gusti Ngurah Putu Adi Suartawan ◽

Gerianta Wirawan Yasa

Keyword(s):

Cash Flow ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Free Cash Flow ◽

Manufacturing Companies ◽

Investment Opportunity ◽

Positive Effects ◽

Investment Opportunity Set ◽

Linear Regression Technique

This research is conducted to find out the effect of investment opportunity set and free cash flow towards dividend policy and its impacts on firm value of manufacturing companies registered in Indonesia Stock Exchange during the period of 2011-2013. The samples of this study are 25 manufacturing companies and they were selected by using purposive sampling method. The data is collected through non participants’ observation. Path analysis which is an extension of the multiple linear regression technique is used to analyze data. Based on the data analysis, it was found that, investment opportunity set has positive effects on dividend policy. It refuses the negative hypothesis, free cash flow has positive effects on dividend policy, investment opportunity set has positive effects on firm value, free cash flow has positive effects on firm value, dividend policy has positive effects on firm value, investment opportunity set has effects on firm value through dividend policy and free cash flow has no effects on firm value through dividend policy.

Download Full-text

Dividend Policy pada Perusahaan Perbankan yang Terdaftar Di BEI

Kompartemen Jurnal Ilmiah Akuntansi ◽

10.30595/kompartemen.v18i2.8417 ◽

2020 ◽

Vol 18 (2) ◽

Author(s):

Zakaria Zakaria ◽

Fajar Rina Sejati ◽

Murti Muti

Keyword(s):

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Profit Margin ◽

Investment Opportunity ◽

Current Ratio ◽

Investment Opportunity Set ◽

Net Profit ◽

Equity Ratio ◽

Retained Earnings

Dividend policy is a decision taken by a company related to dividends, whether profits will be distributed to shareholders or investors in the form of dividends or profits will be retained as retained earnings for investment financing in the future. Factors that can influence dividend policy include current ratio, debt to equity ratio, net profit margin, investment opportunity set. The population in this study are banking companies listed on the Indonesia Stock Exchange in the 2015-2018 period. The samples obtained are based on purposive sampling techniques and obtained by 9 companies. The data analysis technique used is multiple linear regression analysis. The analysis shows that the debt to equity ratio, investment opportunity set has a positive effect and net profit margin has a negative effect on the dividend policy. However, the current ratio has no effect on the dividend policy.

Download Full-text

Ukuran Perusahaan Memoderasi Pengaruh Profitabilitas, Free Cash Flow, dan Likuiditas pada Kebijakan Dividen

E-Jurnal Akuntansi ◽

10.24843/eja.2020.v30.i04.p19 ◽

2020 ◽

Vol 30 (4) ◽

pp. 1034

Author(s):

Made Dita Wahyuni ◽

I Dewa Nyoman Badera

Keyword(s):

Regression Analysis ◽

Cash Flow ◽

Firm Size ◽

Research Method ◽

Dividend Policy ◽

Stock Exchange ◽

Free Cash Flow ◽

Analysis Technique ◽

Retained Earnings ◽

Positive Effect

Dividend policy is the company's decision to determine whether profits derived by the company will be distributed to shareholders in the form of dividends or will be used as retained earnings. Companies must pay attention to factors in determining dividend policy. This study aims to analyze the iinfluence of the effect of profitability, free cash flow, and liquidity on dividend policy with firm size as a moderating variable. This research was conducted at infrastructure, utilities, and transportation companies listed on the Indonesia Stock Exchange in 2016-2018. The sample research method used was purposive sampling. The data analysis technique used is Moderated Regression Analysis. Based on the results of the study, it is known that profitability and firm size do not affect dividend policy, meanwile free cash flow and liquidity have a positive effect on dividend policy. This study also found that firm size can strengthen the effect of profitability, free cash flow, and liquidity on dividend policy. Keywords: Profitability; Free Cash Flow; Liquidity; Dividend Policy; Firm Size.

Download Full-text