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Abdul Karim Abdul Karim
Universitas Muhammadiyah Tangerang
Economics, Econometrics & Finance

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THE MODERATING EFFECT OF PROFITABILITY ON DIVIDEND POLICY IN INDONESIAN INFRASTRUCTURE COMPANIES Abdul Karim Abdul Karim; Felina C Young Felina C Young; Yuana Fasya Purnamasari Yuana Fasya Purnamasari; Hendra Galuh Febrianto Hendra Galuh Febrianto; Dhea Zatira Dhea Zatira; Amalia Indah Fitriana Amalia Indah Fitriana
JRAK Vol 17 No 1 (2025): April Edition
Publisher : Faculty of Economics and Business, Universitas Pasundan, Bandung, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrak.v17i2.22566

Abstract

Research on the dividend policy of infrastructure companies listed on the Indonesia Stock Exchange (IDX) from 2017 to 2023 is important, as this sector plays a vital role in economic growth. Infrastructure companies require substantial capital for long-term projects, so their dividend policies reflect a priority on profit allocation, both for reinvestment and distribution to shareholders. The study aims at providing insights into the factors influencing dividend policy in the sector. Using quantitative methods with panel data regression and moderation analysis, the authors analyzed 63 purposively sampled companies. The results showed that solvency and growth had no partial effect on dividend policy, whereas liquidity did. However, when tested simultaneously, three variables solvency, growth, and liquidity significantly affected dividend policy. Profitability only moderates the company's growth influence. These findings serve as a guide for policymakers and close the gap in previous research on the role of profitability as a moderation variable.
Co-Authors Amalia Indah Fitriana Amalia Indah Fitriana Dhea Zatira Dhea Zatira Febrianto, Hendra Galuh Felina C Young Felina C Young Yuana Fasya Purnamasari Yuana Fasya Purnamasari