KEBIJAKAN DIVIDEN DAN PEMBELIAN KEMBALI SAHAM: PENGUJIAN LIFE CYCLE THEORY
Abstract: The purpose of this
research is to examine the influence of life cycle theory and leverage on
dividen policy and buyback. Life cycle is proxied by RETA (retained earning to
total asset). This study purposes hypothesis that RETA have positive influence
on dividen policy and buyback whereas leverage have negative influence on dividend
policy and buyback.
The population of this research is all of listed firms in Indonesia Stock
Exchange in year 2009-2012, exclude financial firms. Sampling method used is
purposive sampling. Logistic regression used to be analysis technique. The
final amounts of sample are 520.
Result of this study show that retained earning to total asset have
positively significant influenced on probability of dividen distributing.
Retained earning to total asset have no significance on probability of buyback
action. Leverage have no significance on dividend policy but have negative
influence on buyback. The finding of this study supports life cycle theory.
Penulis: Devi Indriyani, Dwi
Ratmono
Kode Jurnal: jpakuntansidd141089
