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Journal : Owner : Riset dan Jurnal Akuntansi

Ukuran Perusahaan Memoderasi Pengaruh Kepemilikan Asing Dan Komisaris Independen Terhadap Kebijakan Dividen di Indonesia Gayatri, Ni Putu Adinda Putri; Musmini, Lucy Sri; Adiputra, I Made Pradana
Owner : Riset dan Jurnal Akuntansi Vol. 9 No. 3 (2025): Research Articles July 2025
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v9i3.2732

Abstract

This study was conducted with the aim of testing and analyzing how foreign ownership and independent commissioners affect dividend policy with company size as a moderating variable. This study uses panel data analysis with a quantitative approach. The population of this study includes companies listed in the Kompas 100 Index on the Indonesia Stock Exchange that publish financial reports and distribute dividends during 2021-2023, the sample was obtained through purposive sampling technique and a total of 42 companies were obtained as samples, which were then analyzed using STATA software. This study uses multiple linear regression analysis and the Moderated Regression Analysis (MRA) test. The results of the study show that foreign ownership and independent commissioners have a significant positive effect on dividend policy. Meanwhile, company size has not been able to moderate the influence of foreign ownership and independent commissioners on dividend policy. This study presents novelty by showing that in the context of large companies in Indonesia, especially the Kompas 100 Index, company size does not strengthen the influence of foreign ownership or independent commissioners on dividend policy. This highlights that the complexity of governance, dominance of controlling shareholders, and the focus of large companies on long-term growth are more decisive in determining the direction of dividend policy, so that the effectiveness of external and internal supervision is contextual and not linear to the scale of the company. The implication is that regulators and companies need to review the effectiveness of the role of independent commissioners and encourage the involvement of foreign investors as a strategic oversight mechanism, regardless of the scale of the company.
Co-Authors ., A.A.Gede Rahadi Aprijana A.A.Gede Rahadi Aprijana . ADITHA, KADEK KRISNA Ak. S.E. Desak Nyoman Sri Werastuti . Ali Djamhuri Ananta, Ida Bagus Putu Weda Anantawikrama Tungga Atmadja Anantawikrama Tungga Atmadja,SE,Ak.,M. . Ancella Anitawati Hermawan, Ancella Anitawati ANDRIADI, KOMANG DANDY Ari Surya Darmawan Arta, Putu Wahyu Permana Asih, Ginanthi Astawa, I Gede Putu Banu Ayu Komang Dewi Lestari . Ayu Priska Megayanti . Ayu Puspa Wirantari Bayu Darmika Candrasari, Kadek Ladyna Christian Denny Setiawan Darmika, Bayu Desak Nyoman Sri Werastuti, S.E., Ak. . Desak Putu Lani Mahadewi . Desak Putu Lani Mahadewi ., Desak Putu Lani Mahadewi Dewi, Kadek Debi Sartika Dewi, Luh Putu Debby Cinthya Dewi, Made Diah Chandra Dewi, Ni Luh Putri Honey Dr. Edy Sujana,SE,Msi,AK . Dwi Martani Edy Sujana Elvin Ruswanda Yudistira Evy Drivayanti Kadek . Fitriani, Erfina Gayatri, Ni Putu Adinda Putri Gayatri, Putu Anisa Gede Adi Yuniarta Gede Adi Yuniarta, SE.AK . Gede Herry Merta Primadana . Gede Oka Restu Pratama Gede Pranata . Gede Pranata ., Gede Pranata Ginanthi Asih Hasanah, Mas Onik Rif'atul Hidayatulloh, A.Nururrochman Hilda Rossieta I Desak Nyoman Tri Wandari . I Gede Agus Arya Adi Putra I Gusti Ayu Purnamawati I Kadek Arya Wibawa . I Ketut Ardy Prabhawa . I Komang Arya Kumara . I Made Bagas Wisnu Pamungkas . I Made Dwi Septiadi Suhendra . I Made Dwi Septiadi Suhendra ., I Made Dwi Septiadi Suhendra I Made Widi Hartawan I Made Widi Hartawan . I Nyoman Agus Tri Arnawa . I Nyoman Arsana, I Nyoman I Nyoman Triantana Putra . I Putu Eva Prasetya . I Putu Gede Diatmika I Putu Hendra Martadinata . I Wayan Putra Adnyana, I Wayan Putra Ida Bagus Putu Ery Supriadi . Imam Ghozali Jefry Wijaya . Juniari, Ni Luh K. Dian Rosita Dewi . K. Dian Rosita Dewi ., K. Dian Rosita Dewi Kadek Arin Prasasti . Kadek Ayu Pramita Dewi . Kadek Carlina Armeiwati . Kadek Evi Resita Dewi . Kadek Krisna Aditha Kadek Ladyna Candrasari Kadek Marlina Nalarreason . Kadek Rilly Widhi Antari . Kadek Rindi Kadek Teni Rismawati . Kaswarina, Ni Ketut Nadia Keristina, Ni Made Deni Ketut Maharani Ketut Nala Hari Wardana Ketut Widiasa . Ketut Widiasa ., Ketut Widiasa Komang Budi Amanta . Komang Budi Amanta ., Komang Budi Amanta Komang Gede Suriani Suan Dewi . Komang Hendri Mastrianawati . Komang Pariardi Arianti . Komang Sri Endrayani . Komang Sri Wirnipin . Komang Sri Wirnipin ., Komang Sri Wirnipin L Pt Dian Metta Sari . Lindawati Gani Lucy Sri Musmini Luh Asih Utami Luh Gede Kusuma Dewi Luh Putu Debby Cinthya Dewi Luh Putu Sulastrini . Luh Widiari . Made Ary Meitriana Made Didik Apriadinata . Made Dwi Setiawan . Made Dwi Setiawan ., Made Dwi Setiawan Made Fandy Permana Putra . Made Herman Mahardika . Made Irwan Darmayuda . Megayanti, Riska Diah Murniasih, Ni Luh Gede Nala Hari Wardana Ni Kadek Desi Dwiyantari . Ni Kadek Dewi Asih . Ni Kadek Dina Yanti Ni Kadek Elsa Tiari Ni Kadek Erni Apriantini . Ni Kadek Rina Primayoni . Ni Kadek Sinarwati Ni Ketut Alit Rusmadewi Parmad . Ni Ketut Budiasrini . Ni Ketut Budiasrini ., Ni Ketut Budiasrini Ni Ketut Nadia Kaswarina Ni Komang Evi Sugiani Ni Komang Irma Puspita Ni Komang Sumitariani Ni Komang Suryaningsih Ni Luh Eka Ari Artini . Ni Luh Gede Erni Sulindawati Ni Luh Ketut Jesi Asmarani . Ni Luh Nonik Tika Silviyani . Ni Luh Nora Widari . Ni Luh Putu Asri Damayanti . Ni Luh Putu Dita Silviani Ni Luh Putu Lindri Puspitasari . Ni Made Ary Widiastini Ni Made Yadnyawati Ap . Ni Made Yadnyawati Ap ., Ni Made Yadnyawati Ap Ni Md Ari Widyastuti . Ni Nyoman Perayati . Ni Putu Dian Ganesuari Dian Ni Putu Yogi Merta Maeka Sari . Ni Putu Yulia Paramitha Ni Wayan Della Praniti . Ni Wayan Sukerti Ni Wyn. Meilani Suwardani . Nyoman Ayu Wulan Trisna Dewi . Nyoman Mita Mahardini . Nyoman Trisna Herawati Oktajaya, Tri Paramitha, Ni Putu Yulia Pasek Aries Hendra Sidartha . Purna, Putu Inten Citrawati Purnama Sari Ni Luh Putu . PURWANTI PURWANTI Puspita, Ni Komang Irma Putra , I Gede Pawana Ngurah PUTRA, I GEDE WAHYU Putra, I Gusti Made Priyambhada putri, Ni Komang Sapta Putri Mertha Agustina Putu Adi Susanto . Putu Ayu Asrini . Putu Indah Sonia Dewi Putu Indira Yunitasari . Putu Ratih Pratiwi . Putu Ryan Damayanti . Putu Sri Wahyuni Ayu Putu Yunartha Pradnyana Putra Riana Dewi Kartika . Rika Dwipa Yaniari . Rika Dwipa Yaniari ., Rika Dwipa Yaniari Riska Diah Megayanti Shara Widya Sidharta Utama Siti Komala . Sudarmanto, Eko Sulistyowati, Nur Wahyuning SUMITARIANI, NI KOMANG Supramajaya, I Dewa Gede Putra Suryaningsih, Ni Komang Sutoto, Agung Titus Silvi Sadewi Trisna Hari, Ketut Desi Utami, Luh Asih Vidyaningsih, Pande Nyoman Trisna W. Gilang Premana Widya, Shara Wirantari, Ayu Puspa Yudiatmaja, Fridayana Yudiatmaja, Fridayana Yudistira, Elvin Ruswanda Yundari, Yundari Zendrato, Handani