Pengaruh Economic Value Added dan Investment Opportunity Set Terhadap Kebijakan Dividen Tunai Dengan Ukuran Perusahaan Sebagai Variabel Moderating (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2016)
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Institusion
Universitas Katolik Widya Mandira Kupang
Author
ZAKIYAH, Indah
Subject
HB Economic Theory
Datestamp
2020-06-17 05:13:34
Abstract :
The background of this research is the limited data for investors when determining the investment portfolio in stocks. The data showthat not all companies listed on the Indonesia Stock Exchange distribute dividends. There is also data that net income after tax is not the only consideration for companies to distribute dividends. This study aims to analyze the effect of EVA, IOS and company size on cash dividend policy in manufacturing companies in 2016. The problems in this study are (1). What is the description of EVA, IOS and company size in manufacturing companies on the Indonesia Stock Exchange for the period of 2016? (2). Does IOS affect the cash dividend policy? (3). Does EVA affect thecash dividend policy? (4) Does IOS have an effect on EVA? (5). Does EVA mediate the effect of IOS on cash dividend policy? (6). Does Company Size moderate IOS's influence with cash dividend policy? (7). Does Company Size moderate EVA's relationship with Cash dividend policy?The analytical method used is descriptive analysis and inferential analysis using the Partial Least Square (PLS) Method. The data used are secondary data in the form of 2016 financial statements from www.idx.co.id. The results of the descriptive analysis showed that the average EVA was positive, the average IOS was relatively high, the average size of manufacturing companies listed on the Indonesia Stock Exchange in 2016 was large and the company paid a sufficient amount of dividend. The IOS variable has a negative but not significant relationship to the cash dividend policy. EVA variable has a positive but not significant relationship to cash dividend policy. IOS variable has a positive and significant relationship to EVA. The EVA variable does not mediate the relationship between IOS and cash dividend policy. Company Size Variable is not able to moderate IOS with cash dividend policy. Company Size Variable is not able to moderate EVA with cash dividend policy.
The background of this research is the limited data for investors when determining the investment portfolio in stocks. The data showthat not all companies listed on the Indonesia Stock Exchange distribute dividends. There is also data that net income after tax is not the only consideration for companies to distribute dividends. This study aims to analyze the effect of EVA, IOS and company size on cash dividend policy in manufacturing companies in 2016. The problems in this study are (1). What is the description of EVA, IOS and company size in manufacturing companies on the Indonesia Stock Exchange for the period of 2016? (2). Does IOS affect the cash dividend policy? (3). Does EVA affect thecash dividend policy? (4) Does IOS have an effect on EVA? (5). Does EVA mediate the effect of IOS on cash dividend policy? (6). Does Company Size moderate IOS's influence with cash dividend policy? (7). Does Company Size moderate EVA's relationship with Cash dividend policy?The analytical method used is descriptive analysis and inferential analysis using the Partial Least Square (PLS) Method. The data used are secondary data in the form of 2016 financial statements from www.idx.co.id. The results of the descriptive analysis showed that the average EVA was positive, the average IOS was relatively high, the average size of manufacturing companies listed on the Indonesia Stock Exchange in 2016 was large and the company paid a sufficient amount of dividend. The IOS variable has a negative but not significant relationship to the cash dividend policy. EVA variable has a positive but not significant relationship to cash dividend policy. IOS variable has a positive and significant relationship to EVA. The EVA variable does not mediate the relationship between IOS and cash dividend policy. Company Size Variable is not able to moderate IOS with cash dividend policy. Company Size Variable is not able to moderate EVA with cash dividend policy.
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