JURNAL MANAJEMEN MOTIVASI
Vol 21 No 2 (2025): Jurnal Manajemen Motivasi

The Influence Of Liquidity, Profitability, And Asset Growth On Dividend Policy With Debt Policy As A Mediating Variable In The Banking Sector Listed On The Indonesian Stock Exchange

Sulistyawati, Anna (Unknown)
Hermuningsih, Sri (Unknown)
Hidayat, Riskin (Unknown)

Article Info

Publish Date
20 Jul 2025

Abstract

This study examines the effects of liquidity, profitability, and asset growth on dividend policy, with debt policy as a mediating variable in Indonesian banking firms during the Covid-19 pandemic. Using panel data from 13 banks (2019–2023), path analysis via SEM reveals that liquidity and asset growth significantly affect debt policy, which in turn negatively impacts dividend policy. Debt policy mediates the relationship between liquidity and dividends. These findings reinforce pecking order, signaling, and agency theories in capital structure decisions amid financial uncertainty.

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Journal Info
JURNAL MANAJEMEN MOTIVASI
Website

Abbrev

jm_motivasi

Publisher

Universitas Muhammadiyah Pontianak

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Jurnal Manajemen Motivasi (JMM) adalah Jurnal Ilmiah Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Pontianak yang diterbitkan secara berkala 2 (dua) kali dalam satu tahun (Juni dan Oktober) sebagai sarana untuk menyebarluaskan hasil penelitian dan ilmu pengetahuan di bidang ilmu manajemen ...