PENGARUH KEPEMILIKAN MANAGERIAL, KEPEMILIKAN INSTITUSIONAL, KEBIJAKAN HUTANG, PROFITABILITAS DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN
ABSTRACT: The research
examines the effect of managerial ownership, institutional ownership, leverage
policy, profitability, and firm size on dividend policy. The research model
uses dividend policy to reflect the agency issues and conflict of interest
between agent (manager) and principal (insider and outsider shareholders).
Thirty two firms were used as sample listed at Jakarta Stock Exchange, and had
positive earnings after tax and shared dividen from 2002 till 2005 repeatedly.
Data were analyzed using multiple regression analysis. The results show that
managerial ownership, institutional ownership, leverage policy, and
profitability had a negative effect on dividend policy. The big firm would
increase dividend policy rather than small firm.
Keywords: Agency theory,
managerial ownership, institutional ownership, leverage policy, profitability,
firm size and dividend policy
Penulis: SISCA CHRISTIANTY
DEWI
Kode Jurnal: jpakuntansidd080041
