Determinants of corporate dividend policy in Indonesia

4th International Seminar on Sustainable Urban Development

地球科学;经济学

Lestari, H.S.^1

Faculty of Economic and Business, Universitas Trisakti, Jakarta Barat, Indonesia^1

关键词: Cash flow;    debt;    dividend per share;    Firm size;    Free cash flow;   

Others  :  https://iopscience.iop.org/article/10.1088/1755-1315/106/1/012046/pdf
DOI  :  10.1088/1755-1315/106/1/012046

来源: IOP

【 摘 要 】

This study aims to investigate the determinants factors that effect the dividend policy. The sample used in this research is manufacture companies listed in Indonesia Stock Exchange (IDX) and the period 2011 - 2015. There are independent variables such as earning, cash flow, free cash flow, debt, growth opportunities, investment opportunities, firm size, largest shareholder, firm risk, lagged dividend and dividend policy used as dependent variable. The study examines a total of 32 manufacture companies. After analyzing the data using the program software Eviews 9.0 by multiples regression analysis reveal that earning, cash flow, free cash flow, firm size, and lagged dividend have significant effect on dividend policy, whereas debt, growth opportunities, investment opportunities, largest shareholder, and firm risk have no significant effect on dividend policy. The results of this study are expected to be implemented by the financial managers in improving corporate profits and basic information as return on investment decisions.