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Pengaruh Profitabilitas, Likuiditas Dan Ukuran Perusahaan Terhadap Kebijakan Dividen Nindya Pangestika Pratiwi; Eny Purwaningsih
BULLET : Jurnal Multidisiplin Ilmu Vol. 1 No. 06 (2022): BULLET : Jurnal Multidisiplin Ilmu
Publisher : CV. Multi Kreasi Media

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Abstract

The company's decision to distribute dividends is an important decision, because it can affect investors in investing their capital into the company. This research aims to inform companies empirically and partially or simultaneously about profitability, liquidity and company size on dividend policy in companies that are members of the 2020 high dividend index for the period 2018-2020. The causal relationship of two or more variables can be determined by using comparative causality. Obtained 10 companies that match the criteria of the research sample using purposive sampling method. Thus, 30 samples of financial statements were obtained for companies in the 2020 high dividend index for the period 2018-2020. This research method uses multiple regression analysis. The results of this research show that the variables of profitability (ROA), liquidity (CR) and company size (FS) partially have a positive and significant effect on policy. dividends (DPR). And simultaneously profitability, liquidity and firm size affect dividend policy.
PENGARUH GOOD CORPORATE GOVERNANCE TERHADAP DIVIDEND POLICY DENGAN FREE CASH FLOW DAN INVESTMENT EFFICIENCY SEBAGAI VARIABEL MODERASI Nindya Pangestika Pratiwi; Abdurrahman Abdurrahman
GOVERNANCE: Jurnal Ilmiah Kajian Politik Lokal dan Pembangunan Vol. 13 No. 4 (2026): 2026 April
Publisher : Lembaga Kajian Ilmu Sosial dan Politik (LKISPOL)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56015/gjikplp.v13i4.834

Abstract

This study aims to analyze the influence of ownership structure and board characteristics on dividend policy in companies listed in the Kompas 100 index during the 2018–2024 period with free cash flow and investment efficiency as moderation variable. The findings reveal that family ownership, institutional domestic ownership, ownership concentration, foreign ownership, managerial ownership, and the presence of independent commissioners have no significant impact on dividend policy. Conversely, board size and CEO duality show a positive and significant influence, while the presence of female directors has a negative and significant impact on dividend policy. Furthermore, the three tested moderating variables free cash flow and investment efficiency did not show significant effects in moderating the relationships between ownership structure or board characteristics and dividend policy.This study is limited by its long observation period, which spans pre-COVID, during the pandemic, and post-COVID recovery phases, leading to diverse dividend distribution patterns. Additionally, the use of moderating variables is still limited. Future researchers are encouraged to examine a more diverse set of companies and explore additional moderating variables to provide deeper insights. The managerial implications highlight the importance of board characteristics in maintaining long-term strategic stability while emphasizing the need for transparent and accountable reporting. For investors, the result can be used as a consideration in evaluating the company’s performance by paying attention to its development so that it grows into an increasingly larger company