PENGARUH CORPORATE GOVERNANCE, FREE CASH FLOW DAN INVESTMENT OPPORTUNITY SET TERHADAP DIVIDEND PAYOUT RATIO (Studi Pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia Pada Tahun 2012-2018)

Rima Nur Masruroh, Anggita Langgeng Wijaya, Anny Widiasmara

Abstract


The purpose of this study is to provide empirical evidence of the influence of corporate governance, free cash flow and investment opportunity set on the dividend payout ratio. Corporate governance is represented by managerial ownership and the investment opportunity set is measured using the MBVE ratio. The study was conducted on 9 mining sector companies listed on the Indonesia Stock Exchange (IDX). The data used are financial statements issued by the IDX for the period 2012-2018. Data analysis was performed using multiple linear regression analysis techniques with t test and F test. The results of statistical tests showed that partially corporate governance and investment opportunity sets have no significant negative effect on the dividend payout ratio, while free cash flow has a significant negative effect on the dividend payout ratio. Simultaneous testing found that corporate governance, free cash flow and investment opportunity sets had no significant effect on dividend payout ratios
Keywords: corporate governance, free cash flow, investment opportunity set and dividend payout
ratio


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References


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