Penelitian ini bertujuan untuk menguji pengaruh kebijakan dividen terhadap harga saham dengan kebijakan hutang sebagai variabel moderasi. Penelitian ini menggunakan 160 sampel perusahaan-tahun pada perusahaan manufaktur yang terdaftar pada Bursa Efek Indonesia periode 2011-2015 yang dipilih menggunakan metode purposive sampling. Analisis regresi linier berganda digunakan untuk menguji hipotesis petama, dan moderating regression analysis digunakan untuk menguji hipotesis yang kedua. Hasil penelitian ini menunjukkan bahwa kebijakan dividen berpengaruh positif terhadap harga saham perusahaan karena pembayaran dividen merupakan salah satu sinyal positif bagi investor dan pada akhirnnya dapat meningkatkan harga saham. Selain itu, kebijakan hutang juga terbukti dapat memoderasi pengaruh kebijakan dividen terhadap harga saham karena hutang perusahaan yang tinggi dapat meningkatkan ketidak pastian perusahaan dan memberikan sinyal negatif bagi investor, sehingga perusahaan akan meningkatkan pembagian dividennya sebagai upaya untuk menekan sinyal negatif tersebut dan menjaga reputasi perusahaan dan stabilitas harga saham. Hasil penelitian ini mengkonfirmasi teori signaling dan teori dividend substitution hypothesis. Penelitian ini berkontribusi untuk memperkaya literatur tentang pengaruh kebijakan dividen terhadap harga saham dengan kebijakan hutang sebagai pemoderasi, dan diharapkan dapat menjadi masukan bagi manajer perusahaan untuk menentukan kebijakan dividen dan kebijakan hutangnya.
Penelitian ini bertujuan untuk mengidentifikasi hubungan market to book dan ukuran file laporan tahunan perusahaan go public dengan ukuran perusahaan sebegai variabel kontrol. Penelitian ini menggunakan data perusahaan yang terdafatar di Bursa Efek Indonesia pada periode 2015-2018 dengan jumlah sampel 1.742 Perusahaan-Tahun. Teknik analisis data yang digunakan dalam penelitian ini adalah analisis regresi berganda. Hasil penelitian menunjukkan bahwa market to book berhubungan signifikan dengan ukuran file laporan tahunan perusahaan. Ukuran file merupakan hal penting yang sering terlupakan. Ukuran file merupakan salah satu bentuk web service yang pada akhirnya akan menentukan tingkat kemudahan pengguna web serta cost untuk merubahnya menjadi informasi. Web service yang diberikan oleh perusahaan pada akhirnya juga memiliki keterkaitan dengan penilaian investor terhadap perusahaan.
This paper examines the causes of Islamic bank deviated from sharia principles. I want to explore why Islamic bank deviates from sharia principles. This study used a qualitative method with in-depth interviews with one of the Islamic banks in Sumenep Indonesia. I divided this study into two steps. First, examine whether Islamic bank deviates from sharia principles. Second, examine what causes Islamic banks to deviate from sharia principles. The results of this study found that the causes of Islamic banks deviated from sharia principles are the existence of competition between Islamic banks and the existence of profit targets that must be achieved. The findings of this study contribute to providing information to the public who criticize Islamic bank so that they understand the difficult conditions of Islamic bank to adhere perfectly to sharia principles so that the public do not always blame Islamic bank for deviations committed and do not condemn it. In turn, this problem can be found the right solution
This study examines the influence of CEO tenure on readability of narratives disclosure. This study also included company size and company age as control variables. The sample used in this study was 482 companies listed on the Indonesia Stock Exchange in 2018. There are not many studies on readability of narratives disclosure in Indonesia, so this study is expected to motivate academics to develop studies on disclosure narrative readability. The results showed that more longer CEO tenure could increase the readability of narratives disclosure. This condition can occur because CEO with longer tenure will be better able to communicate firm conditions in naratives disclosure that is simpler and easier to understand than CEO with shorter tenure. Moreover, firm size and firm age add complexity to narratives disclosure and decrease readability. This condition occurs because more larger the firm size and more older the firm age can create more items that must be disclosed in the narratives disclosure. This study can use to enrich the literature about influence of CEO tenure on readability of narratives disclosure.
This study aims to identify the influence between top management related to financial distress. This study uses data of banking who listed on the Indonesia Stock Exchange in 2016. The data analysis technique in this research using multiple regression analysis method with the control variable; Return on Assets (ROA), Operational Costs to Operating Income (BOPO), Capital Adequacy Ratio (CAR), Loan to Deposit Ratio (LDR), and Cash Ratio (CR). The study discusses to support the stewardship theory that considers the top management group to have a mandate to the shareholders to manage the company and maintain the organization. However, the differences in the structure of the top management group will not affect their motivation to avoid financial stress. The results showed that the top management group had no significant effect on financial distress. This result is also shown the condition and structure of the top management group in the company still has the same goal which is to avoid financial distress.
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