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

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.

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Influence of Profitability, Investment Opportunity Set (Ios) Leverage and Dividend Policy on Firm Value in The L Service in Indonesia Stock Exchange

JURNAL TERAPAN MANAJEMEN DAN BISNIS ◽

10.26737/jtmb.v3i2.346 ◽

2017 ◽

Vol 3 (2) ◽

pp. 235

Author(s):

Khuzaini Khuzaini ◽

Dwi Wahyu Artiningsih ◽

Lina Paulina

Keyword(s):

Significant Influence ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Investment Opportunity ◽

Industrial Services ◽

Investment Opportunity Set

<p>This research was aimed to analyze the significant influence of profitability, investment opportunity set (ios), leverage and dividend policy partially or simultaneously on firm value. The sample used in this research was Industrial Services in Indonesia Stock Exchange period 2013 to 2015 as many as 28 companies taken by using purposive sampling technique. Hypothesis testing of research using multiple linear regression analysis by SPSS 21 for windows programs. This research found that: (1) profitability has significant influence partially on firm value; (2) investment opportunity set (ios) has significant influence partially on firm value; (3) leverage has no significant influence partially on firm value; (3) the dividend policy has no significant influence partially on firm value; (5) profitability, investment opportunity set (ios), leverage and dividend policy have significant influence simultaneously on firm value with influence value of 46.7%.</p>

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ANALISIS UKURAN PERUSAHAAN DAN PELUANG INVESTASI DI MASA DEPAN TERHADAP KUALITAS LABA PERUSAHAAN

Eqien: Jurnal Ekonomi dan Bisnis ◽

10.34308/eqien.v7i2.148 ◽

2020 ◽

Vol 7 (2) ◽

pp. 117-125

Author(s):

R. Aditya Kristamtomo Putra

Keyword(s):

Stock Exchange ◽

Linear Regression Analysis ◽

Financial Statements ◽

Multiple Linear Regression Analysis ◽

Annual Reports ◽

Manufacturing Companies ◽

Investment Opportunity ◽

Process Data ◽

Investment Opportunity Set

This research aims to test, analyse and explain the influence of corporate assets and Investment Opportnity Set to profit. The method used in this research is a descriptive method of verifiable with a quantitative approach that is sourced from financial statements and annual reports in various industry sector manufacturing companies listed on the Indonesia Stock Exchange period 2013-2018. Sampling techniques using the purposive sampling method. The Data obtained is analyzed by classical assumption test testing, multiple linear regression analysis and hypotheses test using T test and F test. This research uses SPPS version 25 program to process data. The results showed that the company asset has significant effect on the profit and investment opportunity set has no effect on the quality of profit while simultaneously the company size and investment opportunity set does not affect the quality of profit

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Pengaruh Struktur Kepemilikan dan Faktor Keuangan terhadap Kebijakan Dividen

E-Jurnal Akuntansi ◽

10.24843/eja.2020.v30.i10.p16 ◽

2020 ◽

Vol 30 (10) ◽

pp. 2641

Author(s):

Yohanes Rudolf Benu

Keyword(s):

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Institutional Ownership ◽

Financial Statements ◽

Multiple Linear Regression Analysis ◽

Managerial Ownership ◽

Manufacturing Companies ◽

Analysis Technique ◽

A Company

The ownership structure and financial factors are considered influential to the dividend policy of a company. Thus the aim of this study is to examine the effects of institutional ownership, managerial ownership, liquidity, leverage, and profitability on dividend policy. This study uses quantitative approach and analyzes samples taken from the financial statements of 161 different manufacturing companies listed in the Indonesian Stock Exchange between 2015-2017. These samples are then selected using purposive random sampling in which only 49 samples fit the criteria. The data analysis technique used is the multiple linear regression analysis technique. This study concludes that institutional ownership, managerial ownership, liquidity, and profitability have positive and significant effects on dividend policy. However, leverage has a insignificant effect on dividend policy. Keywords: Dividend Policy; Institutional Ownership, Managerial Ownership; Liquidity; Leverage; Profitability.

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Investment Opportunity Set sebagai Pemoderasi Pengaruh Profitabilitas, Kepemilikan Manajerial, dan Ukuran Perusahaan terhadap Kebijakan Utang

JURNAL AKUNTANSI DAN BISNIS Jurnal Program Studi Akuntansi ◽

10.31289/jab.v7i1.4289 ◽

2021 ◽

Vol 7 (1) ◽

pp. 23-32

Author(s):

Suriani Ginting ◽

Seti Eli Larosa ◽

Sonya Enda Natasha S Pandia

Keyword(s):

Regression Analysis ◽

Firm Size ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Absolute Difference ◽

Managerial Ownership ◽

Investment Opportunity ◽

Investment Opportunity Set ◽

The Relationship ◽

Debt Policy

This research aims to determine and analyze the influence of Profitability, Managerial Ownership, Firm Size in Debt Policy with Investment Opportunity Set as a moderating variable. The populations in this research were 177 companies. The sampling method in this research was purposive sampling and obtained 19 sample companies. Analysis of data method used multiple linear regression analysis and regression analysis moderating variable with absolute difference value method.The result of analysis shows that simultaneously Profitability, Managerial Ownership, Firm Size have a significant effect on Debt Policy. Partially, Profitability, Managerial Ownerdhip have a significant effect on Debt Policy. While Firm Size have a not significant on Debt Policy. And Investment Opportunity Set is not able to moderate the relationship between Profitability, Managerial Ownership, and Firm Size

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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

10.31227/osf.io/6sa8n ◽

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

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PERAN SIZE DALAM MEMODERASI PENGARUH PROFITABILITAS, INVESMENT OPPOURTUNITY COST DAN LEVERAGE TERHADAP KEBIJAKAN DEVIDEN

Jurnal Ekonomi dan Bisnis ◽

10.30659/ekobis.21.1.26-50 ◽

2020 ◽

Vol 21 (1) ◽

pp. 26

Author(s):

Moeljono Moeljono ◽

Nasron Alfianto

Keyword(s):

Sampling Method ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Investment Opportunity ◽

Analysis Technique ◽

Investment Opportunity Set ◽

Manufacturing Company ◽

Sample Amount

This study aims to determine the effect of profitability, investment opportunity set (IOS), and leverage to dividend policy with moderated size. This study was conducted because there are several previous studies that show that the results of his research there are inconsistencies.The population in this study is a manufacturing company listed on the Indonesia Stock Exchange (BEI). The method of determining the sample is done by purposive sampling method, and based on predetermined criteria, the sample amount is 190 sample of manufacturing company during 2009-2018 period.The analysis technique used is multiple linear regression analysis. To knowthe variable size as a moderate variable or not tested interaction ModeratedReggresion Analysis (MRA).The results show that profitability and leverage are not able to influence thecompany's dividend policy. The dividend policy is influenced by the investment opportunity set (IOS). Size is not able to moderate the effect ofprofitability, investment opportunity set (IOS) and leverage to dividend policy.

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ANALISIS PENGARUH LABA BERSIH, SALES GROWTH, KEPEMILIKAN MANAJERIAL, DAN LEVERAGE TERHADAP KEBIJAKAN DIVIDEN

Jurnal Akuntansi Auditing dan Keuangan BALANCE ◽

10.25170/balance.v16i2.1623 ◽

2020 ◽

Vol 16 (2) ◽

pp. 190-211

Author(s):

Manasye Benedicta Brigastara Hutagalung ◽

Loh Wenny Setiawati

Keyword(s):

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Management Decision ◽

Managerial Ownership ◽

Sales Growth ◽

Net Income ◽

Manufacturing Companies

Dividend policy is a management decision of a company in determining the amount of dividend to be distributed to shareholders. Investors who have long-term goals will choose a return in the form of dividends in large quantities or relatively stable to reduce the uncertainty of investors who have invested their funds in the company. This research uses multiple linear regression analysis that will test the influence of net income, sales growth, managerial ownership, and leverage to dividend policy. The samples used in this study were 75 manufacturing companies listed on the Indonesia Stock Exchange for the period 2016–2018. The results of this research indicate that net income has a significant effect on dividend policy, while sales growth, managerial ownership, and leverage do not have a significant effect on dividend policy.

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The Effect of Ownership Structure and Financial Performance on Firm Value with Dividend Policy as Moderating Variable at Property and Real Estate Companies

Volume 5 - 2020, Issue 9 - September - International Journal of Innovative Science and Research Technology ◽

10.38124/ijisrt20jul542 ◽

2020 ◽

Vol 5 (7) ◽

pp. 638-645

Author(s):

Witya Shalini ◽

Erlina . ◽

Prihatin Lumban Raja

Keyword(s):

Real Estate ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Institutional Ownership ◽

Multiple Linear Regression Analysis ◽

Managerial Ownership ◽

Company Value

This study aims to determine managerial ownership, institutional ownership, liquidity, leverage, and profitability on firm value with dividend policy as a moderating variable. This type of research is explanatory research with a quantitative approach. The population used in this study are property and real estate companies listed on the Indonesia Stock Exchange from 2010 to 2018. The sampling technique uses purposive sampling so that the selected sample is 16 companies. This study uses descriptive statistical data analysis and multiple linear regression analysis. The results of this study indicate that 1). Managerial Ownership, Institutional Ownership, and Liquidity do no effect on Company Value. 2). Leverage has a negative and significant impact on Company Value. 3). Profitability has a positive and significant impact on Company Value. 4). Dividend Policy cannot moderate the effect of the Managerial Ownership relationship on Company Value. 5). Dividend policy can partially influence the relationship of Institutional Ownership, Liquidity, Leverage, and Profitability to Company Value.

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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 ◽

10.24036/jmpe.v1i2.4750 ◽

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

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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

JURNAL SeMaRaK ◽

10.32493/smk.v3i1.4506 ◽

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

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