Factors Affecting Corporate Dividend Policy: Evidence from Emerging Market
DOI:
https://doi.org/10.30595/kompartemen.v20i1.12318Keywords:
Kebijakan Dividen, Profitabilitas, Likuiditas, Leverage, Investment Opportunity SetAbstract
Penelitian ini mengkaji pengaruh profitabilitas, likuiditas, leverage, set kesempatan investasi, dan ukuran perusahaan terhadap kebijakan dividen. Fenomena menunjukkan bahwa kebijakan deviden merupakan isu yang penting bagi perusahaan-perusahaan yang tercatat di Bursa Efek Indonesia. Sampel dipilih menggunakan metode purposive sampling. Penelitian ini menggunakan 34 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia untuk periode 2016-2020 (170 data observasi). Data dikumpulkan dari situs Bursa Efek Indonesia. Penelitian ini menggunakan analisis regresi linier berganda. Hasil penelitian menunjukkan bahwa profitabilitas dan ukuran perusahaan berpengaruh positif terhadap kebijakan dividen, sedangkan set kesempatan investasi menunjukkan hubungan yang negatif. Di sisi lain, likuiditas dan leverage tidak berpengaruh terhadap kebijakan dividen. Meskipun ada beberapa keterbatasan, seperti ukuran sampel yang relatif kecil, penelitian ini memberikan kontribusi untuk memberikan bukti empiris tentang faktor-faktor yang mempengaruhi kebijakan dividen, terutama dari konteks pasar negara berkembang.
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