Ika Yustina Rahmawati
Universitas Muhammadiyah Purwokerto, Indonesia

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Kepemilikan Manajerial Memoderasi Leverage, Profitabilitas, dan Pertumbuhan Penjualan terhadap Kebijakan Dividen Ardya Rimellaika; Ika Yustina Rahmawati; Wida Purwidianti; Hermin Endratno
Paradoks : Jurnal Ilmu Ekonomi Vol. 9 No. 2 (2026): February - April
Publisher : Fakultas Ekonomi, Universitas Muslim Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57178/paradoks.v9i2.2204

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh leverage, profitabilitas, dan pertumbuhan penjualan terhadap kebijakan dividen dengan kepemilikan manajerial sebagai variabel moderasi pada perusahaan sektor consumer non-cyclicals yang terdaftar di Bursa Efek Indonesia pada periode 2020–2024. Penelitian ini menggunakan pendekatan kuantitatif dengan data sekunder berupa laporan keuangan tahunan. Sampel penelitian terdiri atas 33 perusahaan dengan total 104 observasi data panel unbalanced yang dianalisis menggunakan regresi linier berganda dan Moderated Regression Analysis (MRA). Penelitian ini menggunakan pendekatan kuantitatif dengan data sekunder berupa laporan keuangan yang dianalisis melalui uji asumsi klasik, regresi linier berganda, dan analisis moderasi menggunakan SPSS versi 27. Hasil penelitian menunjukkan bahwa leverage tidak berpengaruh signifikan terhadap kebijakan dividen, sedangkan profitabilitas dan pertumbuhan penjualan berpengaruh signifikan. Kepemilikan manajerial berpengaruh negatif terhadap kebijakan dividen serta memoderasi hubungan leverage dan profitabilitas terhadap kebijakan dividen, namun tidak memoderasi hubungan pertumbuhan penjualan dan kebijakan dividen. Implikasi penelitian ini menunjukkan bahwa kebijakan dividen pada sektor consumer non-cyclicals lebih dipengaruhi oleh pertimbangan strategis jangka panjang dibandingkan dengan rasio keuangan jangka pendek.
Understanding Gen Z’s Financial Management Behavior: The Mediating Role of Financial Self-Efficacy Aprilita Tri Amelika; Naelati Tubastuvi; Suyoto; Ika Yustina Rahmawati
Paradoks : Jurnal Ilmu Ekonomi Vol. 9 No. 1 (2026): November - Januari
Publisher : Fakultas Ekonomi, Universitas Muslim Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57178/paradoks.v9i1.2033

Abstract

This study aims to analyze the mediating role of financial self-efficacy in the relationship between financial literacy, financial attitude, and lifestyle on financial management behavior of Generation Z in Purbalingga, Indonesia. A quantitative approach was used with primary data collection through a 5-point Likert-scale questionnaire, involving 226 respondents selected through purposive sampling. Data were analyzed using Partial Least Squares-Structural Equation Modeling (PLS-SEM) with SmartPLS version 4 software. The results of this study indicate that financial literacy, financial attitude, and lifestyle have a positive and significant effect on financial self-efficacy (p < 0.05). Furthermore, financial literacy, financial attitude, lifestyle, and financial self-efficacy have a positive and significant effect on financial management behavior (p < 0.05). The model's explanatory power is considered moderate, as reflected by the adjusted R2 values of 0.715 for financial management behavior and 0.518 for financial self-efficacy. Indirect analysis shows that financial self-efficacy mediates the influence of financial literacy, financial attitude, and lifestyle on financial management behavior. These findings contribute to the development of financial management behavior literature by emphasizing the importance of financial self-efficacy as a psychological mechanism that bridges the influence of financial factors and lifestyle on financial management behavior. Future research is recommended to explore other psychological or contextual factors that may influence financial management behavior.