ANALISIS PENGARUH KEPEMILIKAN MANAJERIAL, KEBIJAKAN UTANG, ROA DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN: STUDI 1995-1996
ABSTRACT: This research
examined the influence of managerial ownership, debt policy, ROA andfirm size
on dividend policy. Actually under dividend policy still have many puzzles. The
research model is developed from Chen & Steiner (1999), Moh’d, Rimbey &
Perry (1995), Jensen, Solberg and Zorn (1992), Chrutchley & Hansen (1989),
with focusing at 60 samples from manufacturing company. Data are taken from
Indonesia Capital Market Directory in 1995-1996. It uses 3 equations, the first
is multiple regressions for examining four hypothesis. The results show:
managerial ownership is positive and significant to dividend policy, debt
policy is negative and significant to dividend policy, ROA is negative and
significant to dividend policy, and firm size is positive but is not
significant to dividend policy.
The second and third are simple regressions for analyzing two grouped of
managerial ownership. The results show that the low rate of managerial
ownership and the high rate of managerial ownership are positive relation on
dividend policy. The results don 't prove the different of linier relation
between managerial ownership and dividend policy.
Keywords: managerial
ownership, debt policy, ROA, firm size dividend policy and multiple regressions
Penulis: Kartika Nuringsih
Kode Jurnal: jpakuntansidd050025
