EFEK INFORMASI ASIMETRI TERHADAP KEBIJAKAN DIVIDEN
Abstract: This research
examines the influence of asymmetric information on dividend policy using an
alternative explanation of pecking order theory for a sample of manufacturing
firms listed on the Jakarta Stock Exchange between 2000 and 2004. The result of
the tests indicates that dividends are negatively related to the level of
asymmetric information. This finding is consistent with the theory of pecking
order but does not provide a support for the signaling theory.
Keywords: asymmetric information,
dividend, signaling theory, pecking order theory
Penulis: Hadri Kusuma
Kode Jurnal: jpakuntansidd060008
