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INDONESIA
Jurnal Keuangan dan Perbankan
Published by Universitas Merdeka Malang
ISSN : -     EISSN : -     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Arjuna Subject : -
Articles 12 Documents
 1   2 
Search results for , issue "Vol 23, No 1 (2019): January 2019" : 12 Documents clear
The role of earnings and tax on dividend policy of Indonesian listed firms Hutagaol-Martowidjojo, Yanthi; Joachim, Hansi; Anggreni, Dellia
Jurnal Keuangan dan Perbankan Vol 23, No 1 (2019): January 2019
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (552.106 KB) | DOI: 10.26905/jkdp.v23i1.2581

Abstract

Prior studies show that profitability is the main financial aspect that determines a firm’s dividend policy. To add to the Indonesian’ dividends literature, this study examines the role of earnings and tax as dividend policy in Indonesian listed firms. This study argues that besides profitability, Indonesian firms consider other financial performance, namely earnings (contributed capital and prior year earnings) and tax to determine their dividend policy, since earnings reflect firm’s real ability to pay dividends, and tax affects the number of dividends should be paid.  Using 1688 firm-year observations of Indonesian firms from 2012 to 2016, the panel data regression result shows that prior year’s earnings and contributed capital, are the significant determinants of firms sample’s dividend policy. However, the insignificant result is found in the corporate tax role. Meanwhile, the robustness test, earnings, and tax are significant and of the expected sign. The result implies that the higher the firms’ earnings, the higher the dividend payout ratio that is used as a proxy to the firms’ dividend policy. Corporate tax, on the other hand, is a significant negative determinant in some years of the observation. Higher corporate tax hinders managers to increase the dividend payout ratio.JEL Classification: G35, M19, M40DOI: https://doi.org/10.26905/jkdp.v23i1.2581
Analysis of Rashomon Effects on government policy regarding redenomination and sanering Sweetly Mumu; Winstor Muloke; Alfian Maase
Jurnal Keuangan dan Perbankan Vol 23, No 1 (2019): January 2019
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v23i1.2533

Abstract

Redenomination can be understood as sanering which can cause significant economic turmoil. This understanding affects the way of view or public perception of government policy in implementing its policies. Differences in perception or perspective are known as Rashomon effects. The purpose of this study is to determine the effect of Rashomon effects on government policies regarding redenomination and sanering. The sample of this study consisted of 133 respondents. Samples are determined by stratified random sampling techniques and data collection using directly distributed questionnaires. The method of data analysis is a simple linear regression. The results showed that the Rashomon effect had a significantly positive effect on redenomination and sanering. The greater the difference in understanding redenomination and sanering, the greater the public's misperception in supporting government policy and will have an impact on public readiness for government policies to simplify the Rupiah value. The implication is that the government and Bank Indonesia must disseminate to the public about the redenomination and sanering policies intensively and consistently to provide clear information to the public.JEL Classification: G31, G32, G34DOI: https://doi.org/10.26905/jkdp.v23i1.2533 

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