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Journal : Journal of Contemporary Accounting

The influence of free cash flow, capital structure, investment opportunities, and company growth on dividend policy Sawal, Nuning Safitri M.; Ohorella, Rizki Wahyu Utami; Meliana, Meliana
Journal of Contemporary Accounting Volume 7 Issue 3, 2025
Publisher : Master in Accounting Program, Faculty of Business & Economics, Universitas Islam Indonesia, Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jca.vol7.iss3.art7

Abstract

This study examines the influence of free cash flow, capital structure, investment opportunities, and firm growth on dividend policy among mining companies listed on the Indonesia Stock Exchange (IDX) over the observation period. The research applies multiple regression analysis based on secondary data derived from financial statements and annual reports. The findings reveal that free cash flow, capital structure, and firm growth do not have a significant impact on dividend policy. In contrast, investment opportunities show a positive and meaningful effect on dividend decisions. Collectively, these variables are found to influence dividend policy, although the model explains only a limited portion of its variation, indicating that other factors beyond the scope of this study also play a role. The results suggest that investment opportunities serve as an important consideration for management in determining dividend policy, while free cash flow, capital structure, and firm growth are not the primary determinants.
Co-Authors agustin, isnaini nuzula Agustina, Fauziah Riyanti Aidnilla, Fitriana Ali, Sarmina Angeline angeline Angga Sulistiono Ansar, Resmiyati Anwar, Asril Ariyanto, Hepy Hefri Arvaji, Jul Aryani, Famela Dwi Asifa Asri Aulia, Maya Difa Buamona, Salwa Shobiha Budi Setiadi, Budi Budi Setiawan Cahya, Wulan Caroline Caroline Darmayanti, Tessa Eka Debeturu, Gisela S. Elya Febrita Erlin Erlin Erni Erni Fahlevi, Renza Fahrudin, Fitri Fala, Dwi Yana Amalia Sari Fitri, Ica Gayatri, Maria Hamna, Hamna Hasanah, Syafaatul Hendian, Feriana Ina Hesti Mustika Ati Indah, Wirda Indra Santoso, Septy Intan Nurul Azni Jaslyn, Jaslyn Kemenangenta PA, Imanuel Kurniawan, Pramudya Kurniawan Latukau, Nurlina Alifka Lily Purwianti Lim, Irene Maggie, Maggie Mardhiyah, Najla Ainal Maujud, Abd Haris Melodya, Deslyn Mislinawati, Mislinawati Muhlis, Widyawati Muin, Agus Alim Mustakim Mustakim Nainggolan, Benny Rojeston Marnaek Nanda, Reski Nariyati, Atik Yuli Nurul Lailatul Khusniyah Ohorella, Rizki Wahyu Utami Palionamo, Rafael James Pangaribuan, Christian Haposan Patade, Agnes Erlita Distriani Puteri, Livi Meiga Putra, Edy Yulianto Putri, Livi Meiga Rahayu, Vitria Puri Rahmat, Nurhidayati Rahmatika, Aufilana Riona Sanjaya Rofika, Ayu Rudy Latuperissa Ruumbia, Chantika Alya Sabariman, Mohammad Sagala, Zuraida Sampo, Ilka Silviana Saputri Sampurno, Mukhsin Budi Santoso, Septy Indra Saputri, Indriana Eka Sawal, Nuning Safitri M. Selvia, Resti Sisca Cletus Lamatokan Situmorang, Dokman Marulitua Soni Ariawan Sopiah, Sopiah Sribuarti, Kriyansyah Sua, Andi Tenri Sudarman Sudarman Suhardjo, Iwan Susmini, Susmini Sutisna, Muhammad Sutriningsih Sutriningsih Suwito Suwito Suwondo Suwondo Syahdan, Rinto Syamsurizal - - Taufiq, Andi Muh. Thendean, Celine Kristalia Tintien Koerniawati Tursinawati Tursinawati, Tursinawati Vidya Urbaningrum Urbaningrum Vionalita, Gisely Yananda, Yeni