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Journal : Jurnal Manajemen

KEBIJAKAN DIVIDEN DI BURSA EFEK INDONESIA PADA PERUSAHAAN KELOMPOK LQ 45 Hasnawati, Sri
Jurnal Manajemen Vol 21, No 1 (2017): February 2017
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (144.332 KB) | DOI: 10.24912/jm.v21i1.152

Abstract

Dividend policy is very important in Finance Management. But until now the concept of dividend policy remains a debatable issue: should corporate profits be distributed or should they be kept as return earnings? In order to address the issue, research on public companies listed on the Indonesian stock exchange on LQ 45 companies is conducted. A model of multiple regression is used to explain what factors should be considered in carrying out the company’s dividend policy. The result of this study shows that main factors that should be considered in distributing the cash dividend are investment and leverage that may have an impact on the reduction of dividend. Size and liquidity variables do not affect dividend policy. When this study is related to agency theory, it seems that the companies in the LQ 45 have reduced agency conflict by increasing investment from internal and external sources. The creditors supplied external sources to increase management  control. The dividends were distributed in order to give a return on shareholders.