PENGARUH EVA, FCF TERHADAP KEBIJAKAN DIVIDEN DENGAN KEPEMILIKAN MANAJERIAL SEBAGAI VARIABEL MODERASI

Vita Kumala Sari, Nik Amah

Abstract


This study aims to examine the effect of Economic Value Added and Free Cash Flow on Dividend Policy with Managerial Ownership as a Moderation Variable in Mining Companies Registered on the Indonesia Stock Exchange in 2013-2017. This research was conducted on mining companies listed, a number of 41 companies. The sample in this study amounted to 25 mining companies during the 2013-2017 period. Sampling using a purposive sampling technique. The analytical tool used in this study is logistic regression. Based on the results of the logistic regression test showed that economic value added and free cash flow variables do not affect dividend policy. Whereas managerial ownership is able to moderate economic value added and managerial ownership is not able to moderate free cash flow towards dividend policy.
Keywords: Economic Value Added, Free Cash Flow, Dividend Policy, and Managerial Ownership


Full Text:

PDF

References


BR, Y. (2015). Dividend Payout Ratio and Perfomance of deposit Money Banks in Nigeria. International Journal of Advance in Management and economics Vol.4, Issus6. 98-105.

Brigham, & Houston. (2010). Dasar- Dasar Manajemen Keuangan. Jakarta: Erlangga .

Brigham, & Houston. (2014). Dasar - Dasar Manajemen Keuangan. Jakarta : Erlangga .

Costin, D. M. (2017). Economic Value Added- A General Review of the Concept Economic Sciences Series Volume XVII Issue 1.

Devi, N. P., & Erawati, N. M. (2014). Pengaruh Kepemilikan Manajerial, Leverage, dan ukuran Perusahaan Pada Kebijakan Dividen Perusahaan Manufaktur Issn : 2302-8556. E-Jurnal Akuntansi Universitas Udayana 9.3, 709-716.

Dewasiri, N. J., Koralalage, W. B., Azzez, A. A., Jayarathne, P. S., Kuruppuarachchi, D., & Weerasinghe, V. A. (2017). Determinants of dividend policy : evidence from an emerging and developing market. Research Center, Faculty of Management Studies and Commerce University of Sri Jayewardenepura, Colombia, Sri Lanka.

Ghozali, I. (2013). Aplikasi Analisis Mulltivariate Edisi 8. Semarang: Badan penerbit Universitas Diponegoro.

Gumanti, A. T. (2013). Kebijakan Dividen Teori, Empiris dan Implikasi . Yogyakarta: UPP STIM YKPN.

Kartika, H., & Suprayitno, D. (2019, 06 14). untuk danai holding dividen emiten pertambangan digenjot. Diambil kembali dari kontan.co.id: http://investasi.kontan.co.id

Keown, A. J., Martin, J. D., Petty, J. W., & JR, D. F. (2011). Manajemen Keuangan . PT. Indeks.

Mansy, A. R. (2015). Pengaruh Profitabilitas, Leverage, Economic Value Added, dan Free Cash Flow Terhadap Kebijakan Dividen (Skripsi). Jakarta (ID) : Universitas Islam Negeri Syarif Hidayatullah.

NKN, E. (2018). Determinand of Dividend Policyamong banks Listed on the Ghana Stock Exchange. Journal of Business & Financial Affairs , Vol 7 No 1.

Pebrianti, P. (2016). Pengaruh Profitabilitas, Kepemilikan Institusional, Dan Free Cash Flow Terhadap Kebijakan Dividen (Pada Perusahaan Manufaktur Yang Terdaftar Di BEI Periode 2011-2015) . Jurnal ekonomi dan bisnis . Fakultas Ekonomi Dan Bisnis Universitas Muhammadiyah Yogyakarta .

Reyna, J. M. (2015). Ownership structure and its effect on dividend policy in the Mexican context Estructura de propiedady su efectto en la politica de dividendos en el contexto mexicano Universitas de las americas Puebla, Mexico.

Sabol, A., & Sverer, F. (2017). A review of the Economic Value Added Literture and Application. UTMS Journal of Economics, Vol 8 (1) : 19-27.

Sanusi, A. (2016). Metode Penelitian Bisnis. Jakarta: Salemba Empat.

Sindhu, M. I. (2014). Relationship between free cash flow and dividend : Moderating role of firm size. Research Journal of Finance and accounting, Vol 5 No 5.

Solekah, N. A. (2013). Pengaruh Kepemilikan Manajerial, Institusional, Arus Kas Bebas Dan Aset Yang Dijaminkan Terhadap Kebijakan Deviden Pada Perusahaan Manufaktur Yang Listing Di Bei. Iqtishoduna: Jurnal Ekonomi dan Bisnis Islam, 9 (2). pp. 152-163. ISSN 1829-524X.


Refbacks

  • There are currently no refbacks.


 

 

 

 

 

 

 

Editorial Office:

Universitas PGRI Madiun

Kampus 3 Lantai 2

Fakultas Ekonomi dan Bisnis

Jl. Auri no. 14-16 Madiun