ANALISIS HUBUNGAN ANTARA KEPEMILIKAN SAHAM MINORITAS DAN DIVIDEND PAY OUT RATIO DENGAN LABA DAN INVESTMENT OPPORTUNITY SET SEBAGAI VARIABEL MODERASI

ANDINI NURWULANDARI

Jurnal Ilmiah Akuntansi dan Bisnis
Vol 5 No 1 (2010)

This research investigates issue of protection for minorityshareholders of Indonesian public companies. Specifically, the researchexamines relationship between minority shareholders and dividend payout ratio with earnings and investment opportunity as moderatingvariables.Research population includes non monetary companies listed on JSXin 2002, 2003, and 2004. Sample is gathered by purposive samplingmethod, that is companies distributing dividend in 2002 (55 companies),2003 (67 companies), and 2004 (75 companies). Multiple regression andlogistic regression model are used to analyze data.The result reveals that positive impact of minority shareholders onDPR is due to their interests is unwell protected. Further more, they arealso not able to influence dividend distribution decision when companiesearn profit.