Article Per Year (5 Year)
p-Index From 2021 - 2026
0.444
P-Index
This Author published in this journals
All Journal Journal of Shariah Economics
Dodi Firman Syah
Universitas Jambi
Religion Economics, Econometrics & Finance Education Social Sciences Other

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
Pengaruh Inflasi Terhadap Pembagian Dividen Pada BUMN : Studi Kasus Sektor Pertambangan Dodi Firman Syah; Haryadi .; Siti Hodijah; Nurhayani .
JOURNAL OF SHARIA ECONOMICS Vol 7 No 2 (2025): Journal of Sharia Economics
Publisher : Program Studi Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam, Universitas Al Hikmah Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35896/jse.v7i2.1229

Abstract

This study aims to analyze the influence of State Capital Participation (PMN) and inflation on dividend policy in mining companies during the 2020–2024 period. The analytical method used is a panel regression with a fixed effects approach on four state-owned enterprises (SOEs), resulting in a total of 20 observations. The estimation results show that the model is able to significantly explain variations in dividend changes, with an R-squared value of 0.9279, while the F-statistic is 36.037 with a significance level of 0.0000, indicating that the independent variables simultaneously influence dividends. Partially, PMN has a negative and significant effect on dividends, with a coefficient of –0.4381 and a probability value of 0.0000, indicating that an increase in PMN has the potential to reduce dividend payments. Meanwhile, the inflation variable shows a positive but insignificant effect on dividends, with a coefficient of 1.0471 and a probability value of 0.0908. These findings indicate that internal company factors related to PMN funding policies play a dominant role in determining dividend amounts, compared to external macroeconomic factors such as inflation. The resulting regression model is: DIVIDEND = 7.8311 – 0.4381PMN + 1.0472Inflation. The results of this study also imply that increasing PMN allocations must be balanced with operational and profitability strategies to avoid suppressing the company's ability to distribute dividends
Pengaruh Harga Komoditas Global, Penyertaan Modal Negara, Dan Total Aset Terhadap Pembagian Dividen Bumn Pertambangan Dalam Mendukung Pemerimaan Negara Dodi Firman Syah; Haryadi; Hodijah
JOURNAL OF SHARIA ECONOMICS Vol. 8 No. 1 (2026): Journal of Sharia Economics
Publisher : Program Studi Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam, Universitas Al Hikmah Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35896/c55v1n85

Abstract

State-owned enterprises (SOEs) in the mining sector play a strategic role in state revenue, particularly through dividend payments as Non-Tax State Revenue (PNBP). This study aims to examine the effect of global commodity prices, state capital participation (PMN), and total assets on dividend distribution in mining SOEs. The data used is panel data for four mining SOEs (PT Timah, PT Antam, PT Inalum, PT Bukit Asam) for the 2017–2024 period, with a total of 32 observations.The analysis method uses panel data regression, and model selection is carried out using the Chow and Hausman test, which leads to a Fixed Effects Model (FEM). The results indicate that global commodity prices significantly influence dividend distribution (t = 3.518; p = 0.0017), while total assets (t = 1.165; p = 0.2548) and PMN (t = 1.760; p = 0.0905) are partially insignificant.However, simultaneously, all three variables significantly influenced dividends, with an Adjusted R-Square of ± 0.498, indicating the model's ability to explain approximately 49.8% of dividend variation. The findings confirm that state-owned mining company dividends are more sensitive to commodity cycle dynamics, while state-owned mining companies tend to be strategic/episodic, thus delaying their impact on dividends.
Co-Authors Haryadi Haryadi . Hodijah Nurhayani . Siti Hodijah