PENGARUH ASPEK INVESTASI DAN ASPEK LIKUIDITAS TERHADAP KEPUTUSAN KEBIJAKAN DEVIDEN

Penelitian ini bertujuan untuk mengetahui pengaruh aspek investasi dan aspek likuiditas terhadap keputusan kebijakan dividen. Variabel investasi perusahaan yang dipergunakan sebagai parameter adalah asset growth dan aspek likuiditas mempergunakan parameter current ratio. Kemampuan perusahaan dalam mengelola kebutuhan dana yang didapatkan dari pasar modal melalui investasi yang dilakukan para pemilik saham atau investor. Perbedaan cara atau karakter perusahaan yang sudah mapan atau berkembang pesat dengan perusahaan yang baru berkembang dalam mengalokasikan dana terhadap aktivitas operasional sebagai suatu fenomena yang menarik untuk dilakukan penelitian. Analisis yang dipergunakan adalah analisis deskriptif kuantitatif. Alat analisis yang digunakan adalah regresi data panel software Eviews 9. Jumlah data sampel yang dipergunakan adalah 21 perusahaan yang masuk kategori LQ45 pada laporan agustus 2019 (periode 2015-2019), perusahaan atau emiten yang membagikan dividen selama 3 tahun berturut-turut dan perusahaan diluar perbankan dan infrastruktur karena keterbatasan kategori asset pada saat melakukan pengukuran asset growth. Hasil penelitian menunjukkan bahwa variabel asset growth berpengaruh positif dan signifikan terhadap dividend pay-out ratio, dan variabel current ratio memiliki pengaruh positif dan signifikan terhadap dividend pay-out ratio.

ISLAMIC BANK ASSET GROWTH: PREDICTIVE ASSESSMENT TOWARD DOMINANT VARIABLES AFFECTING

This study departs from asset growth in Islamic banks which has decreased in the last four years even though assets have increased every year. This research is structured to be the basis for making policies to increase the growth of assets of Islamic banks. The research design used is quantitative with the help of smart PLS ver.3.3. The number of samples is 94 people from a population of 123 employees of Islamic Banks Serang and Cilegon Branch Offices with supervisory positions and above. The sample selection in this study uses probability sampling, so that all branch offices of Islamic banks in Cilegon and Serang as well as all supervisory work units have the same opportunity to be selected as samples. The results indicate that the ones that have the biggest influence in increasing the growth of Islamic bank assets are the financing to deposit ratio and non-performing financing. This can be seen from the path coefficient value resulting from this study between financing to deposit ratio on asset growth has a coefficient value of 2.818 and non-performing financing on asset growth has a coefficient value of 3.767. Thus, both financing to deposit ratio and non-performing financing influence increasing the growth of assets of Islamic banks. The results of this study emphasize to bankers to maintain the quality of financing to remain smooth and avoid non-performing financing.

FACTORS SHAPING CAPITAL STRUCTURE: EVIDENCE FROM PRIVATE COMMERCIAL BANKS IN BANGLADESH

This study investigates how various determinants shape the capital structure of commercial banks in Bangladesh, employing panel data, structured from available secondary sources, covering 22 banks as samples from 61 scheduled banks for the period of 2011 to 2020, conducting Feasible Generalized Least Squared (FGLS) Regression Model. Several diagnostic tests have been conducted to ensure the robustness and stability of the model. The study results reveal that return on assets, earnings per share, asset growth, asset structure, investment structure, cost per loan assets, and loan loss provisioning considerably influence the capital structure or the leverage of commercial banks. On the contrary, the authors find no explicit evidence that bank size, liquidity, capital adequacy, and non-performing loan ratio have significant impacts on the capital structure of the banking industry of Bangladesh. The findings of this study advocate that return on assets, earnings per share, asset structure, and cost per loan assets as the dominant explanatory factors of capital structure. Besides, asset growth, investment structure, and loan loss provisioning affect less significantly on determining the capital structure of the banking industry. This study also brings the academicians, researchers, and analysts with corroborating new routes for exploring further research in this field.

Asset Growth and Future Stock Returns: Insight from International Equity Markets

The main purpose of this research is to examine the cross-sectional connection between asset growth and stock returns in the international equity market during 2016-2020. Firms in international equity markets, subsequently experience lower stock returns with higher asset growth rates, consistent with the United States evidence. If capital markets are well-developed stocks efficiently priced then the negative AG effect on returns is likely to be stronger, but different to country characteristics representing accounting quality, investor protection, and limits to arbitrage. The research is to examine the cross-sectional connection between the asset growth and stock return in the international equity market is likely due to optimal investment effect than due to market timing, overinvestment, or other forms of mispricing. The evidence suggests that the cross-sectional association between the AG effect and stock return is more likely due to an optimal investment effect than due to overinvestment, mispricing or market timing. The findings of the research support Copper et al (2008) however, the weakening of the accounting quality decreases the AG effect magnitude which contradicts the mispricing-based arguments.

The Effect of Good Corporate Governance, Third Party Funds and Asset Growth through Profitability on Bankruptcy Risk of Sharia Commercial Banks Listed on the Indonesia Stock Exchange

The aims of this research were to examine the effect of good corporate governance, third party funds and asset growth through profitability to the bankruptcy risk in Islamic Banking which listed in Indonesia stock exchange. The subjects of the research were Islamic Banks which listed in Indonesia stock exchange. Technique in collecting data was purposive sampling method in which it obtained three Islamic Banks. In analyzing the data, the researcher used Partial Least Square (PLS). The results of the research were good corporate governance had significant negative effect on profitability, third party funds had significant positive effect on profitability, and asset growth had significant positive effect on profitability. Then, good corporate governance, third party funds, and asset growth had significant negative toward the bankruptcy risk.

Investment Decisions through Total Asset Growth toward Price to Book Value on the Jakarta Islamic Index

This research analyzes the effect of investment decisions through Total Asset Growth (TAG) on Price to Book Value (PBV). Since PVB indicates stock measurement based on the ratio of stock price to book value, it is used by investors to assess the price offered. This research uses time-series data from 2014-2020 to examine seven companies selected using purposive sampling but based on fairly good asset developments from 2014 to 2020. Furthermore, this quantitative causal study data were collected using documentation from various sources and analyzed using a simple linear regression test. The results show that the TAG variable has no effect on PBV with a significance value of 0.89 0.05. This shows that TAG does not describe a stable company and is not always useful in investment decision-making.

Does Market Power Affect Banking Dividend Policy? Evidence from Nepal

We attempt to explain how market power impacts bank dividend payment behaviors in Nepal by taking the sample from the commercial banking sector employing a panel data regression model. Using the Lerner Index (LI), a non-structural measure of market power or lack of competition, we found that market power inversely but statistically insignificantly affect dividend payment. This finding leads us to conclude that market power-a proxy of more or less competition is not an important and influencing factor to the dividend decisions in commercial banking sectors signifying that competition does not seem helpful in mitigating agency conflicts. It is also concluded that banking dividend payouts are not the result of the punitive influence of product market antagonism. Further, among other firm-specific determinants, bank size and leverage significantly positively whereas asset growth significantly negatively affect the dividend decision. However, profitability is found insignificant determinant of dividend payment. The paper enriches and contributes to the literature on banking dividend payout and helps to identify the key factors that affect banking dividend decision-making. Keywords : Banks, Market competition, Market power, Lerner Index, Nepal