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KEBIJAKAN DIVIDEN DAN STRUKTUR KEPEMILIKAN TERHADAP KEBIJAKAN UTANG: SEBUAH PERSPEKTIF AGENCY THEORY

Jurnal Keuangan dan Perbankan, Volume 13, Nomor 2, Mei 2009
Journal from JIPTUNMERPP / 2012-01-20 03:05:42
Oleh : Abdullah W. Djabid, Diploma 3 of Finance and Banking Merdeka University Malang (jurkubank@yahoo.com)
Dibuat : 2009-05-01, dengan file

Keyword : Dividend policy, managerial ownership, institutional ownership, debt policy

This study aimed to analyze whether the dividend policy, managerial and institutional ownership had impact toward debt policy. The populations of this study were the go public manufacturers in BEI. The sample technique used was purposive sampling, and the analysis method used was multiple regression method. The result showed that the dividend policy had no impact toward the debt policy. This study failed to support statement that one of the alternatives could be chosen to reduce the agency conflict by increasing the dividend payout ratio. It was because there might be another factor influenced it, for example, the company implemented a stable dividend sharing policy which meant that the company should still pay the dividend although it was losing out or had debts. The managerial and institutional ownership had no impact toward the debt policy. Thus, this study failed to support a statement that alternatives that could be chosen to reduce the agency conflict by increasing the management’s stockholding, and by increasing the institutional party’s stockholding.

Deskripsi Alternatif :

This study aimed to analyze whether the dividend policy, managerial and institutional ownership had impact toward debt policy. The populations of this study were the go public manufacturers in BEI. The sample technique used was purposive sampling, and the analysis method used was multiple regression method. The result showed that the dividend policy had no impact toward the debt policy. This study failed to support statement that one of the alternatives could be chosen to reduce the agency conflict by increasing the dividend payout ratio. It was because there might be another factor influenced it, for example, the company implemented a stable dividend sharing policy which meant that the company should still pay the dividend although it was losing out or had debts. The managerial and institutional ownership had no impact toward the debt policy. Thus, this study failed to support a statement that alternatives that could be chosen to reduce the agency conflict by increasing the management’s stockholding, and by increasing the institutional party’s stockholding.

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PropertiNilai Properti
ID PublisherJIPTUNMERPP
OrganisasiD
Nama KontakDra. Wiwik Supriyanti, SS
AlamatJl. Terusan Halimun 11 B
KotaMalang
DaerahJawa Timur
NegaraIndonesia
Telepon0341-563504
Fax0341-563504
E-mail Administratorperpus@unmer.ac.id
E-mail CKOwsupriyanti@yahoo.com

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  • Editor: Wiwik Supriyanti, Dra. SS.