Dividend policy becomes very important especially with the presence of gender diversity on the company's board. This study aims to empirically examine the role of women's gender on the board of commissioners and the board of directors in determining dividend policy. The research sample uses companies that pay cash dividends listed on the Indonesia Stock Exchange in the 2015-2019 period. Data analysis using SEM-PLS method with WarpPLS 8.0 application. The results showed that the gender diversity of the board of commissioners had a negative effect on dividend policy. The results of the analysis show that the negative effect of the gender diversity of the board of commissioners on dividend policy is non-linear which has a U-curve pattern. Meanwhile, the gender diversity of the board of directors has a positive effect on dividend policy. In general, the research results are in line with the agency theory which uses an increase in dividend payments to reduce the occurrence of agency problems.
UMKM merupakan salah satu pilar penting pada perekonomian di Indonesia, karena menyumbangkan PDB sebesar 61,07%. Jumlah UMKM di Indonesia saat ini mencapai 64,2 juta. Kontribusi penyerapan tenaga kerja sebanyak 97% dari total tenaga kerja yang ada dan mampu menghimoun 60,4% total investasi. UMKM tidak terlepas dari beberapa kendala salah satunya masih rendahnya akses pembiayaan oleh jasa keuangan. Rendahnya pembiayaan jasa keuangan disebabkan tidak adanya pelaporan keuangan pada bisnis UMKM. Pelaku UMKM masih mencampur keuangan usaha dengan pribadi, tidak ada pencatatan pendapatan, biaya serta penjualan. Hal yang juga dialami oleh pelaku UMKM di komunitas Aisyiyah Cabang Doro Kabupaten Pekalongan. Masih minimnya pengetahun tentang keuangan membuat tidak adanya pencatatan keuangan dalam usaha UMKM mereka. Pelatihan dan pendampingan literasi keuangan diharapkan akan mampu meningkatkan kemampuan, pemahaman dan literasi keuangan pemilik UMKM, mampu membuat laporan sederhana dalam pengelolaan usahanya sehingga mampu menjalankan usaha yang efektif dan efisien
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