Factors Affecting Dividend Policy on Non-Financial Companies in Indonesia
Journal Title: GATR Accounting and Finance Review - Year 2017, Vol 2, Issue 3
Abstract
Objective – The objective of this study is to obtain empirical evidence and analyse the factors that affect the dividend policy of non-financial firms listed on the Indonesian Stock Exchange. The factors studied include liquidity, leverage, growth, price/earnings, size, earnings per share, price to book ratio, ownership, age of the firm, floating rate, profitability, and free cash flow. Methodology/Technique – The sampling method used in this study is purposive sampling, in which the samples are taken based on suitable characteristics of the population to generate representative samples. The total number of samples in this study are 105 non-financial firms listed on the Indonesian Stock Exchange between 2011 and 2015. The hypothesis is tested by using multiple regression analysis. Findings – The results of this study show that earnings per share, price to book ratio, and floating rate affect the dividends policy while liquidity, leverage, growth, price/earnings, size, ownership, age of the firm, profitability, and free cash flow has no effect on dividend policy. Novelty – The study findings contribute the companies to establish an appropriate dividend policy to satisfy the interest of both parties that is companies future growth and its investors. Type of Paper: Empirical
Authors and Affiliations
Novia Wijaya, Agathon Felix
Earnings Management and Fraudulent Financial Reporting
Objective - The objective of this research is to obtain empirical evidence about the effect of real earnings management that is proxied by abnormal Cash Flow from operating and discretionary expenses towards fraudulent f...
The Assessment of Client Creditworthiness Using Predictive Methods Based on Multivariate Discriminant Analysis
Objective - Trade credit is the most important source of external finance for many companies. It appears on every balance sheet and represents more than 50 percent of company's short-term liabilities and a third of all co...
Internal and External Determinants of Audit Delay: Evidence from Indonesian Manufacturing Companies
Objective – This study aims to examine and explain the relationship between a company’s internal factors such as profitability, solvency and audit committee, and external factors including complexity and size of public a...
Do Intellectual Capital, Corporate Social Responsibility, and Good Corporate Governance Affect Indonesia's Mining Companies Value?
Objective - The purpose of this study was to analyze the effect of Intellectual Capital (IC), Corporate Social Responsibility (CSR) disclosure, and Good Corporate Governance (GCG) on the value of mining companies (as mea...
The Influence of Good University Governance on Human Capital
Objective – This paper examines the influence of Good University Governance (‘GUG’) on Human Capital (‘HC’) and Quality, as well as the influence of CUG on HC through the use of Quality. Methodology/Technique – This rese...