DETERMINAN KEBIJAKAN DIVIDEN DAN PENGARUHNYA TERHADAP STOCK PERFORMANCE (Studi Empiris pada Perusahaan yang terdaftar di Papan Utama tahun 2015-2017)

Margaretna Margaretna

Abstract


The purpose of this study is to examine and analyze the factors that influence dividend policy in companies. Variables used as determinants of dividend policy include financial performance, corporate debt policy and good corporate governance. In addition, this study also examines and analyzes the effect of a company's dividend policy on stock performance on the stock market as measured through stock returns and Sharpe indexes. In the study the object of observation was companies listed on the Main Board Index 2015-2017 of Indonesia Stock Exchange in 2016-2017.

The research method used is multiple structural regression method, using the SmartPLS 3.0 technique. The purpose is due to several latent constructs in the research model and for the predictive effect on stock performance. The results showed that the independent variables of financial performance and good corporate governance had a positive and significant effect on dividend policy, corporate debt policy had a significant negative effect on dividend policy and the company's dividend policy had a significant positive effect on company stock performance.

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