Corporate governance and dividend payout ratio in non-financial firms listed in Indonesian Stock Exchange

Sumail, La Ode

doi:10.15208/beh.2018.58

Cited by 11 publications

(13 citation statements)

References 22 publications

(25 reference statements)

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“…Morealso, There exists a positive (10.497) insignificant (t=0.38) relationship between ownership structure and dividend payout ratio in quoted manufacturing firms in sub-sahara Africa. This corroborates with a study led by Sumail [29], Hong et al [30] observed a positive relationship between ownership structure and dividend payout. Conversely, [25] shows that ownership structure has significant positive effect on dividend policy of the firm.…”

Section: Discussion and Interpretation Of Findingssupporting

confidence: 92%

Firm Characteristics and Dividend Policy of Quoted Manufacturing Firms in Sub-Sahara Africa

Agi

2020

AJEBA

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The study examined the effect of firm characteristics on dividend policy in quoted manufacturing firms in Sub-Sahara Africa. Panel data were obtained from twenty (20) quoted manufacturing firms from the Nigerian Stock Exchange, Ghana Stock Exchange, Lusaka Stock Exchange, Johannesburg Stock Exchange and Nairobi Stock Exchange over a period of ten (10) years (2008-2017). The data were analyzed using both descriptive and inferential statistics. Dividend payout ratio was used as a proxy for dividend policy, while liquidity, ownership structure, firm size and leverage were used as proxies for firm characteristics. The study found liquidity to have a positive insignificant impact on dividend payout ratio; a positive insignificant impact of ownership structure on dividend payout ratio; a positive insignificant impact of firm size on dividend payout ratio; a positive significant impact of leverage on dividend payout ratio and jointly, a positive significant impact. It was therefore recommended that manufacturing firms should practice optimum working capital management in order to increase its liquidity level and diminish any likelihood of financial distress. An efficient use of its resources in order to improve performance, profitability as well as its ability to pay dividends. Investors should look out for trends in dividend payments before making investments.

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Section: Discussion and Interpretation Of Findingssupporting

confidence: 92%

Firm Characteristics and Dividend Policy of Quoted Manufacturing Firms in Sub-Sahara Africa

Agi

2020

AJEBA

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“…Dapat disimpulkan bahwa kepemilikan institusional berpengaruh positif dan signifikan terhadap kebijakan dividen. Pernyataan tersebut sejalan dengan penelitian yang dilakukan oleh Cheng et al (2018), Sindhu et al (2016), Jabeen dan Ahmad (2019), Widyastuti (2018), Aliyu et al (2016), Jacob & Jijo Lukose (2018, Jory et al (2017), Sumail (2018, Sumartha (2016), Miko & Kamardin (2015).…”

Section: Tabel 4 Uji Koefisien Determinasiunclassified

Pengaruh Free Cash Flow, Ownership Structure, Growth Opportunity Terhadap Kebijakan Dividen

Widiantari

Candradewi

2021

EJMUNUD

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This study aims to explain the effect of free cash flow, ownership structure which is divided into managerial ownership and institutional ownership, and growth opportunity on dividend policy in property and real estate companies in Indonesia. This research is located in property and real estate companies listed on the Indonesia Stock Exchange. Sampling in this study using census techniques using the entire population of property and real estate companies that distribute dividends, so as to get a sample of 18. The analysis technique used in this study uses multiple linear regression analysis. From the analysis conducted, the results of the study indicate that free cash flow has a significant positive effect on dividend policy. Managerial ownership, which is proxied by the percentage of manager's share ownership, has a significant positive effect on dividend policy. Institutional ownership which is proxied by the percentage of institutional share ownership has a significant positive effect on dividend policy and growth opportunity which is proxied by asset growth has a significant positive effect on dividend policy. Keywords: free cash flow, ownership structure, growth opportunity, dividend policy

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“…Menurut Tahir et al (2020), ini membuktikan teori outcome, dimana perusahaan dengan tata kelola yang bagus akan membagikan dividen lebih tinggi. Pengaruh positif juga disimpulkan dalam penelitian Kilincarslan dan Ozdemir (2018), Sumail (2018)…”

Section: Ukuran Direksi Dan Kebijakan Dividenunclassified

Pengaruh atribut tata kelola dan karakteristik perusahaan terhadap kebijakan dividen pada perusahaan di BEI

Serly

Susanti

2021

JEM

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The dividend was a kind of return from portfolio investment. Firms in making dividend payment decisions are influenced by several motives. The main topic of the research was to determine the impact of corporate governance and firm characteristics on the decision of dividend policy. In here, corporate governance was focused on board characteristics consisting of board size, independent director, board meeting frequency, woman director, and audit committee size. While the firm characteristics were measured by size, profitability (ROA), and leverage. The research used companies data collected from Indonesia Stock Exchange. Companies data must available from the period 2015-2019 and resulted in 2.175 sample data. The research used the panel regression method. The result of the research proved that board size and profitability (ROA) significantly positively influenced the dividend policy. Board meeting frequency showed a positive effect on dividend per share, but no effect on dividend per asset. Otherwise, women directors and leverage reflected a significant negative effect with dividend per assets, but an insignificant effect on dividend per share. On the other hand, firm size, independent director, and audit committee size did not have any significant impact on dividend policy decisions.

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Corporate governance and dividend payout ratio in non-financial firms listed in Indonesian Stock Exchange

Cited by 11 publications

References 22 publications

Firm Characteristics and Dividend Policy of Quoted Manufacturing Firms in Sub-Sahara Africa

Firm Characteristics and Dividend Policy of Quoted Manufacturing Firms in Sub-Sahara Africa

Pengaruh Free Cash Flow, Ownership Structure, Growth Opportunity Terhadap Kebijakan Dividen

Pengaruh atribut tata kelola dan karakteristik perusahaan terhadap kebijakan dividen pada perusahaan di BEI

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