PENGARUH INSIDER OWNERSHIP, DISPERSION OF OWNERSHIP, FREE CASH FLOW, COLLATERIZABLE ASSETS DAN TINGKAT PERTUMBUHAN TERHADAP KEBIJAKAN DIVIDEN PERUSAHAAN MANUFAKTUR YANG GO-PUBLIK DI BURSA EFEK JAKARTA

MINAYAH MINAYAH

Abstract


This reseach is an assosiative reseach, which was conducted at Jakarta Stock Exchange. It entitles the effect of insider ownership, dispersion of ownership, free cash flow, collaterizable assets and growth level to the dividend policy of go public manufakturing company at Jakarta Stock Exchange.
This study aims to know the effect of insider ownership, dispersion of ownership, free cash flow and growth level to the dividend policy of go publik manufacturing company at Jakarta Stock Exchange.
The hypothesis of this studyis that of insider ownership, dispersion of ownership, free cash flow, collaterizable assets and growth level will significantly effect the company?s dividend policy.
Analysis tool used in the study to know the effect of insider ownership, dispersion of ownership, free cash flow, collaterizable assets and growth level to the dividend policy is that by using doubled regression analysis, which is conducted after classical assumption test. In additional, F test and t test were used to evaluate the hypothesis. If the value of F count > F table, Ho will be rejected and Ha will be accepted. And if t count > t table, Ho will be accepted and Ha will be rejected.
From the F test analysis, it can be seen also that insider ownership, dispersion of ownership, free cash flow, collaterizable assets and growth level variables simultaneously effec the dividen policy, which is shown by F count 8,75 > F table 2,53. From the t test analysis it is obvious that insider and grow level have significant effects which is shown by -2,161 > -6,314 and -5,682 > -6,314. In other side, other variables do not have significant effects, which is shown by dispersion of ownership variable 0,897 < 6,314, free cash flow 0,379<6,314, and collaterizable assets -1,575 < 6,314.
Based on the result above, it can be concluded that to minimize the problems between managers and stock holders, the company should issue dividend policy. That is to pay in cash every year. To issue the dividend policy, managers must consider the risk that ill appear in the next future.

 

Keyword : KEBIJAKAN DIVIDEN PERUSAHAAN

 

Link Terkait : http://skripsi.umm.ac.id/files/disk1/33/jiptummpp-gdl-s1-2004-minayah996-1641-Pendahul-n.pdf


Keywords


KEBIJAKAN DIVIDEN PERUSAHAAN