The Influence Of Managerial Ownership, Company Growth And Profitability On Dividend Policy In Lq45 Companies 2019-2021
DOI:
https://doi.org/10.35870/jemsi.v10i2.2194Abstract
Dividend policy is a decision about how much of current earnings will be paid out as dividends rather than retained earnings which will then be reinvested in the company. dividend policy can be measured through the dividend payout ratio (DPR). The ratio shows the percentage of the company's earnings that are paid out to shareholders in cash. Companies that have a high DPR and increase from year to year can provide positive signals to investors, because dividend announcements can be used as information by shareholders regarding company performance. This study aims to determine the effect of managerial ownership, company growth, profitability on dividend policy in LQ45 companies 2019-2021. This research is quantitative research. The data used is also secondary data taken from the official website of the Indonesia Stock Exchange in the form of financial reports of LQ45 companies listed on the IDX. Based on the results of data analysis and discussion of the effect of Managerial Ownership, Company Growth, and Profitability on Dividend Policy in LQ45 companies 2019 - 2021, it can be concluded. The managerial ownership variable has no effect on dividend policy as proxied by the dividend payout ratio. The company growth variable affects the dividend policy proxied by the dividend payout ratio. This indicates that any increase or decrease in total assets during the observation period affects the dividend to be distributed to shareholders. The profitability variable has no effect on dividend policy proxied by the dividend payout ratio
Downloads
References
Bansaleng, R. D., Tommy, P., & Saerang, I. S. (2014). Debt Policy, Ownership Structure and Profitability on Dividend Policy in Food and Beverage Companies on the Indonesia Stock Exchange. Emba Journal: Journal of Economic Research, Management, Business and Accounting, 2(3).
Difah, S. S., & Arfianto, E. D. (2011). Analysis of Factors Affecting Dividend Payout Ratio in State-Owned Companies Listed on the Indonesia Stock Exchange for the Period 2004-2009. (Doctoral Dissertation, Diponegoro University).
Kotler, Philip (2006). Marketing management first edition Indonesia. PT. Gramedia group index.
Makadao, I., & Saerang, D. P. (2021). Managerial Ownership, Firm Value, Debt Policy Against Dividend Policy in Manufacturing Companies Listed on the Indonesia Stock Exchange. Journal of Accounting and Auditing Research "Goodwill", 12(2), 315-330.
Masdupi. (2005). Analysis of the Impact of Ownership Structure on Debt Policy in Controlling Agency Conflict. Journal of Business Economics Vol. 20, No. 1 December. 56-59.
Melinda, Rosa and Ulfah Setia Iswara. (2023). The Effect of Company Characteristics on Corporate Dividend Policy. Journal of Accounting Science and Research.
Santoso. (2012). Analysis of Factors Affecting Dividend Policy. Journal of Economics Diponegoro University. Semarang
Sartono. (2008). Financial Management Theory and Application, Fourth Edition, BPFE. Yogyakarta.
Silin, S., Purwanto, N., & Mustikowati, R. I. (2018). The Effect of Managerial Ownership, Institutional Ownership, and Dividend Policy on Manufacturing Companies Listed on the Indonesia Stock Exchange for the 2014-2015 Period. Journal of Accounting Student Research, 6(1).
Sucipto. (2003). Financial Performance Assessment. Journal of Accounting, University of North Sumatra. Medan.
Sutrisno. (2003). Financial Management Theory Concepts and Applications, first edition EKONSIA. Yogyakarta.
Wahidawati. (2002). The Effect of Managerial Ownership and Institutional Ownership on Corporate Debt Policy: Agency Theory perspective. Journal of Indonesian accounting research,5(1),1-16.
Wahyudi, Eko. (2018). Factos Affecting Dividend Policy In Manufacturing Companies In Indonesia Stock Ecxchange. Jurnal Management Universitas Negeri Surabaya. Surabaya.
Wiweko, Hidayah Febrianto, Igo. 2016. Advanced Financial Management. Bandar Lampung: CV. Anugerah Utama Raharja (AURA).
Wutami, V., Yenni Angel Line, & Yenty. (2023). The Role of Profitability in Mediating Leverage and Company Size on Dividend Policy. JAMANTA: Journal Of Unita Accounting Students, 3 (1), 148-162.
Downloads
Published
Issue
Section
License
Authors who publish with this journal agree to the following terms:
1. Copyright Retention and Open Access License
Authors retain copyright of their work and grant the journal non-exclusive right of first publication under the Creative Commons Attribution 4.0 International License (CC BY 4.0).
This license allows unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
2. Rights Granted Under CC BY 4.0
Under this license, readers are free to:
- Share — copy and redistribute the material in any medium or format
- Adapt — remix, transform, and build upon the material for any purpose, including commercial use
- No additional restrictions — the licensor cannot revoke these freedoms as long as license terms are followed
3. Attribution Requirements
All uses must include:
- Proper citation of the original work
- Link to the Creative Commons license
- Indication if changes were made to the original work
- No suggestion that the licensor endorses the user or their use
4. Additional Distribution Rights
Authors may:
- Deposit the published version in institutional repositories
- Share through academic social networks
- Include in books, monographs, or other publications
- Post on personal or institutional websites
Requirement: All additional distributions must maintain the CC BY 4.0 license and proper attribution.
5. Self-Archiving and Pre-Print Sharing
Authors are encouraged to:
- Share pre-prints and post-prints online
- Deposit in subject-specific repositories (e.g., arXiv, bioRxiv)
- Engage in scholarly communication throughout the publication process
6. Open Access Commitment
This journal provides immediate open access to all content, supporting the global exchange of knowledge without financial, legal, or technical barriers.
