Abstract :
ABSTRACT
This research aims to determine the influence of debt policy, liquidity,
and profitability toward dividend policy with firm life cycle as moderating
variable on manufacturing company listed in Indonesian Stock Exchange. The
population of this research is the companies listed in Indonesian Stock Exchange
in 2013- . Samples for this research are 355 observation data taken with
purposive sampling technique. The hypothesis analytical method used is multiple
linear regression and sub group analysis for moderation testing. Results of the
analysis shows that debt policy has negative significant influence towards
dividend policy, whereas liquidity and profitability have no influence towards
dividend policy. As for, firm life cycle can moderate the influence of debt policy
and liquidity towards dividend policy.
Key words: dividend policy, debt policy, liquidity, profitability, firm life cycle