Published: 2025-04-10

Agency Cost Terhadap Kebijakan Dividen Perusahaan Manufaktur

DOI: 10.35870/emt.v9i2.3762

Sorayya Qonita Mujahidah, Rachmat Sudarsono
  • Sorayya Qonita Mujahidah: Padjadjaran University ROR
  • Rachmat Sudarsono: Padjadjaran University ROR
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Abstract

This research examines the impact of Agency Cost on dividend policy in manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2018–2022 period. The study investigates variables such as insider ownership, family ownership, institutional ownership, free cash flow (FCF), collateralizable assets, growth, and control variables (Sales and leverage) on the Dividend Payout Ratio (DPR). The findings reveal that most variables significantly influence DPR, except leverage. The results indicate that ownership structures and financial characteristics play critical roles in shaping dividend policies, reflecting efforts to align managerial and shareholder interests. These findings contribute to a better understanding of agency theory and its implications in the Indonesian manufacturing sector during the dynamic post-pandemic recovery period.

Keywords

Agency Cost; Dividend Payout Ratio; Dividend Policy; Manufacturing Companies

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How to Cite

Mujahidah, S. Q., & Sudarsono, R. (2025). Agency Cost Terhadap Kebijakan Dividen Perusahaan Manufaktur. Jurnal EMT KITA, 9(2), 433-446. https://doi.org/10.35870/emt.v9i2.3762
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This article has been peer-reviewed and published in the Jurnal EMT KITA. The content is available under the terms of the Creative Commons Attribution 4.0 International License.

  • Issue: Vol. 9 No. 2 (2025)

  • Section: Articles

  • Published: 2025-04-10

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Author Biographies
Sorayya Qonita Mujahidah, Padjadjaran University
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Universitas Padjadjaran, Kabupaten Sumedang, Provinsi Jawa Barat, Indonesia.

Rachmat Sudarsono, Padjadjaran University
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Universitas Padjadjaran, Kabupaten Sumedang, Provinsi Jawa Barat, Indonesia.

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