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All Journal International Journal of Application on Economics and Business
Indra Widjaja
Master of Management, Universitas Tarumanagara, Jakarta, Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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MEDIATING EFFECT OF PROFITABILITY ON LEVERAGE AND INSTITUTIONAL OWNERSHIP INFLUENCING BANK DIVIDEND POLICY IN INDONESIA Timotius Timotius; Indra Widjaja
International Journal of Application on Economics and Business Vol. 3 No. 4 (2025): November 2025
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v3i4.1971-1979

Abstract

The purpose of this study is to examine the effect of leverage and institutional ownership on dividend policy, with profitability as a mediating variable represented by Return on Equity (ROE) in banking sector listed on the Indonesia Stock Exchange between 2021 and 2024. This quantitative study makes use of secondary data in the form of financial statements gathered from the official websites of the Indonesia Stock Exchange and Banks. Data analysis is performed using a panel data regression model and Sobel test with EViews 9.0 software. The sample consists of 17 banks selected using purposive sampling based on specific criteria. The study's findings reveal that Leverage, as measured by debt-to-equity ratio (DER), does not significantly impact Return on Equity (ROE). In contrast, Institutional Ownership, as measured has a positive impact on ROE. Furthermore, the direct relationships between Institutional Ownership and ROE were found positive and significant. However, neither DER nor ROE show a significant direct impact on dividend policy measured by dividend payout ratio (DPR). Additionally, the analysis indicates that ROE does not mediate the relationship between leverage or institutional ownership and dividend policy.
DETERMINANTS OF EARNINGS MANAGEMENT IN CONSUMER SECTOR COMPANIES LISTED ON THE INDONESIAN STOCK EXCHANGE FROM 2021 TO 2023: INSTITUTIONAL OWNERSHIP AS A MODERATING VARIABLE Yoselin Yoselin; Indra Widjaja
International Journal of Application on Economics and Business Vol. 3 No. 4 (2025): November 2025
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v3i4.2043-2057

Abstract

This study aims to examine the effect of managerial ownership, board size, audit committee, and board diversity on earnings management, with institutional ownership acting as a moderating variable. The study focuses on company’s sectors listed on the Indonesia Stock Exchange (IDX) during the period 2021–2023. Using a quantitative approach through purposive sampling, a total of 168 company-year observations were analyzed using EViews 12. The findings show that managerial ownership does not have a substantial effect on earnings management, while board size, audit committee, and board diversity show a significant positive relationship with earnings management. In summary, institutional ownership weakens the relationship between board size, audit committee, and board diversity with earnings management, but fails to moderate the effect of managerial ownership. This study drwas attention to strong institutional ownership, which enhances the effectiveness of corporate governance mechanisms and reduces distortions in financial reporting caused by profit manipulation practices.
Co-Authors Timotius Timotius Yoselin Yoselin