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All Journal Jurnal Ilmiah Ecosystem Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) The Scientia Law and Economics Review
Udyono
Universitas Bosowa
Agriculture, Biological Sciences & Forestry Humanities Civil Engineering, Building, Construction & Architecture Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences

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INVESTMENT OPPORTUNITY SET, MULTIPLE LARGE SHAREHOLDER AND CAPITAL STRUCTURE ON DIVIDEN POLICY THROUGH LIKUIDITY (Study On Manufacturing Companies Listed On The Indonesian Stock Exchange) Udyono Udyono
The Scientia Law and Economics Review Vol. 1 No. 2 (2022): The Scientia Law and Economics Review
Publisher : Scientia Integritas Utama

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56282/sler.v1i2.213

Abstract

This study aims to determine the effect of Investment Opportunity Set, Multiple Large Shareholders and Capital Structure on Dividend Policy through Liquidity in Manufacturing Companies in Indonesia. This study uses secondary data by taking data from annual reports and financial statements of manufacturing companies listed on the Indonesia Stock Exchange, namely www.idx.co.id. The sampling technique in this study was purposive sampling so that the number of samples used was 41 with 123 observational data. The data analysis technique in this study used Multiple Linear Regression Analysis and Moderate Regression Analysis (MRA) using SPSS assistance which was directed to answer the formula problems or hypotheses that have been formulated in this study and are used to examine the relationship between Investment Opportunity Set, Multiple Large Shareholders and Capital Structure variables on Dividend Policy and Liquidity as a moderating variable in manufacturing companies in Indonesia. The results of this study indicate that Investment Opportunity Set has a significant positive effect on Dividend Policy, Multiple Large Shareholders has a significant negative effect on Dividend Policy and Capital Structure has a significant positive effect on Dividend Policy. In addition, the results of the study using the Moderate Regression Analysis (MRA) test show that Liquidity moderates the relationship between Investment Opportunity Sets and Dividend Policy, Liquidity moderates the relationship between Multiple Large Shareholders and Dividend Policy, and Liquidity also moderates the relationship between Capital Structure and Dividend Policy.
Multiple Large Shareholder dan Gender Terhadap Kebijakan Dividen Melalui Investment Opportunity Set Pada Perusahaan Manufaktur di Indonesia Udyono, Udyono; Manda, Darmawati; Rajaman, Rajaman
Jurnal Ilmiah Ecosystem Vol. 23 No. 3 (2023): Ecosystem Vol. 23 No 3, September - Desember Tahun 2023
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35965/eco.v23i3.3899

Abstract

Penelitian ini bertujuan untuk mengetahui Interaksi Investment Opportunity Set Terhadap Hubungan Multiple Large Shareholder dan Gender pada kebijakan dividen perusahaan manufaktur di Indonesia. Penelitian ini menggunakan data sekunder dengan mengambil data dari laporan tahunan dan laporan keuangan perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia, yaitu www.idx.co.id. Teknik pengambilan sampel dalam penelitian ini yaitu purposive sampling sehingga jumlah sampel yang digunkan yaitu berjumlah 53 dengan 159 data observasi.Teknik analisis data dalam penelitian ini menggunakan uji Analisis Regresi Linear Berganda dan Moderate Regression Analisis (MRA) dengan menggunakan bantuan SPSS yang diarahkan untuk menjawab rumusan masalah atau hipotesis yang telah dirumuskan dalam penelitian ini serta digunakan untuk menguji hubungan variabel Multiple Large Shareholder dan Gender terhadap Kebijakan Dividen dengan Investment Opportunity Set sebagai variabel moderasi pada perusahaan manufaktur di Indonesia. Hasil penelitian ini menunjukkan bahwa Multiple Large Shareholder berpengaruh negatif sinifikan terhadap Kebijakan Dividen dan Gender berpengaruh positif signifikan terhadap Kebijakan Dividen. Selain itu, Hasil penelitian dengan uji Moderate Regression Analisis (MRA) menunjukkan bahwa Investment Opportunity Set memoderasi hubungan antara Multiple Large Shareholder dengan Kebijakan Dividen selain itu Investment Opportunity Set juga memoderasi hubungan antara Gender dengan Kebijakan Dividen. This research aims to determine the interaction of the Investment Opportunity Set on the Relationship between Multiple Large Shareholders and Gender in the Dividend Policy of Manufacturing Companies in Indonesia. This research uses secondary data by taking data from annual reports and financial reports of manufacturing companies listed on the Indonesia Stock Exchange, namely www.idx.co.id. The sampling technique in this research is purposive sampling so that the number of samples used is 53 with 159 observation data. The data analysis technique in this research uses Multiple Linear Regression Analysis and Moderate Regression Analysis (MRA) tests using the help of SPSS which is directed to answer the formula The problem or hypothesis that has been formulated in this research is used to test the relationship between the Multiple Large Shareholder and Gender variables on Dividend Policy with the Investment Opportunity Set as a moderating variable in manufacturing companies in Indonesia. The results of this research indicate that Multiple Large Shareholders have a significant negative effect on Dividend Policy and Gender has a significant positive effect on Dividend Policy. Apart from that, the results of research using the Moderate Regression Analysis (MRA) test show that the Investment Opportunity Set moderates the relationship between Multiple Large Shareholders and Dividend Policy. Apart from that, the Investment Opportunity Set also moderates the relationship between Gender and Dividend Policy.
Innovative Financial Instruments for Sustainable Development: A Multi-Layered Analysis of Green Bonds and Impact Investing Daniel Nemba Dambe; Billy Dewantara; Udyono; Tono Mahmudin; Klemens Mere
Dinasti International Journal of Economics, Finance & Accounting Vol. 5 No. 4 (2024): Dinasti International Journal of Economics, Finance & Accounting (September - O
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v5i4.3046

Abstract

In recent years, innovative financial instruments have gained prominence as key drivers of sustainable development initiatives worldwide. Among these, green bonds and impact investing have emerged as pivotal tools for channeling capital towards environmentally and socially beneficial projects. This journal article provides a comprehensive analysis of these instruments through a multi-layered approach. Firstly, it explores the foundational concepts and principles underlying green bonds, emphasizing their role in financing projects that promote environmental sustainability, such as renewable energy, clean transportation, and biodiversity conservation. Secondly, the article examines impact investing, focusing on its broader scope beyond environmental aspects to encompass social and governance factors. This includes investments targeting improvements in healthcare, education, and community development, aiming to generate measurable positive impacts alongside financial returns. urthermore, the study delves into the synergies and distinctions between green bonds and impact investing, highlighting their complementary roles in driving sustainable development goals (SDGs). It discusses current trends, challenges, and opportunities in the global market for these instruments, considering regulatory frameworks, investor preferences, and market dynamics. By synthesizing insights from recent literature and case studies, this article contributes to the understanding of how financial innovation can catalyze positive environmental and social change. Ultimately, it underscores the transformative potential of green bonds and impact investing in achieving long-term sustainability objectives on a global scale.
Global Trade Tensions, Capital Structure, and Firm Value: Evidence from Multinational Companies Listed on the Indonesia Stock Exchange Udyono, Udyono; Rajaman, Rajaman; Razak, Muhammad Maula
Dinasti International Journal of Economics, Finance & Accounting Vol. 6 No. 6 (2026): Dinasti International Journal of Economics, Finance & Accounting (January - Feb
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v6i6.5740

Abstract

Global trade tensions are a critical issue with significant implications for multinational corporations. This study aims to analyze the influence of global trade tensions and capital structure on the firm value of multinational corporations listed on the Indonesia Stock Exchange during the 2021–2024 period. The research variables consist of the World Trade Uncertainty Index to represent global trade tensions, the Debt-to-Equity Ratio to capture capital structure, and Tobin’s Q ratio to measure firm value. The data were analyzed using multiple linear regression with 48 observations. The results indicate that the World Trade Uncertainty Index has a negative but insignificant effect on firm value, whereas the Debt-to-Equity Ratio has a positive and significant effect. These findings highlight that global trade uncertainty has not been strong enough to suppress the market value of companies, while optimal management of capital structure can enhance firm value. This study provides a theoretical contribution by reinforcing the perspectives of trade-off theory and signaling theory, and offers practical implications for financial managers and investors in designing financing strategies amid global uncertainty.
Co-Authors Billy Dewantara Daniel Nemba Dambe Klemens Mere Mahmudin, Tono Manda, Darmawati Rajaman, Rajaman Razak, Muhammad Maula