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All Journal Riset Akuntansi dan Keuangan Indonesia SAR (Soedirman Accounting Review): Journal of Accounting and Business Dinamika Journal : Pengabdian Masyarakat Jurnal Abdimas Sangkabira Proceedings Series on Social Sciences & Humanities Formosa Journal of Applied Sciences (FJAS) Journal of Finance and Business Digital (JFBD) Innovation Business Management and Accounting Journal Prosiding Seminar Nasional Hasil-hasil Penelitian dan Pengabdian Pada Masyarakat JESH: Journal of Economics, Social, and Humanities
Annisa Ilma Hartikasari
Universitas Muhammadiyah Purwokerto
Agriculture, Biological Sciences & Forestry Humanities Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Public Health Social Sciences Other

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Dividend Policy: are Agency Costs and R&D Investments Important? Arie Widya Kafitasari; Annisa Ilma Hartikasari; Azmi Fitriati; Bima Cinintya Pratama
SAR (Soedirman Accounting Review) : Journal of Accounting and Business Vol 9 No 1 (2024): June 2024
Publisher : Program Studi S1 Akuntansi Fakultas Ekonomi & Bisnis Univesitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.sar.2024.9.01.11123

Abstract

Dividend policy is an essential component that cannot be separated from a company's profits. In this research, the dividend policy of companies included in the IDX High Dividend 20 stock index will be tested by paying attention to the agency cost factor, which is proxied by free cash flow, ownership dispersion, insider ownership, and asset growth as well as the level of R&D investment carried out. Between 2018 and 2022, 31 companies joined the stock index with the highest dividend yield. This research shows that free cash flow significantly and positively affects dividend policy, and insider ownership significantly and negatively affects dividend policy. Meanwhile, the variables dispersion of ownership, asset growth, and R&D investment do not affect dividend policy. Some of the applications that companies can implement are being able to increase the number of dividends that will be announced by increasing the amount of free cash flow available, considering in detail the potential interests of insider ownership to decide on an appropriate policy, and being able to use internal funds wisely for good purposes. Distribute dividends or make R&D investments.
Co-Authors Alfato Yusnar Kharismasyah Arbi Arsi Ave Noor Arie Widya Kafitasari Bima Cinintya Pratama Carissa Nariswari Riandy Edi Joko Setyadi Endra Saputra Eti Yustika Hartono Fitri Rakhmawati Fitriati, Azmi Hadi Pramono Ira Hapsari Iwan Fakhruddin Mudjiyanti, Rina Mufida Noviana Novi Dirgantari Nur Isna Inayati Nurunnisa Ayung Prinika Sugianto Pujiharto Pujiharto Restu Frida Utami Rindi Fitri Antika Selamat Eko Budi Santoso Shafa Fadia Zainavy Slamet Budi Santoso Sri Wahyuni Tri Septin Muji Rahayu, Tri Septin Via Nurul Izzah Wida Purwidianti Yusuf Enril Fathurrohman