Published: 2026-06-01

Pengaruh Free cash flow Dan Pertumbuhan Perusahaan Terhadap Kebijkaan Dividen Dengan Good corporate governance Sebagai Variabel Moderasi

DOI: 10.35870/jemsi.v12i3.6284

Fitriya Anjelina, Aranta Prista Dilasari
  • Fitriya Anjelina: Institut Teknologi dan Bisnis Ahmad Dahlan Lamongan
  • Aranta Prista Dilasari: Institut Teknologi dan Bisnis Ahmad Dahlan Lamongan
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Abstract

The purpose of this study is to determine the effect of FCF and company growth on dividend policy and to determine whether GCG can moderate the relationship between free cash flow and company growth variables on dividend policy. The data analysis methods used in this study are multiple linear regression and moderated regression analysis (MRA). The population in this study was 92 property and real estate companies listed on the Indonesia Stock Exchange in 2020-2024. The results show that FCF, company growth, and GCG have a positive effect on dividend policy. Meanwhile GCG  as a moderating variable is proven to be significantly negative and able to moderate the effect of free cash flow and company growth on dividend policy.

Keywords

Free Cash Flow; Good Corporate Governance; Dividen Policy; Company Growth

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How to Cite

Anjelina, F., & Dilasari, A. P. (2026). Pengaruh Free cash flow Dan Pertumbuhan Perusahaan Terhadap Kebijkaan Dividen Dengan Good corporate governance Sebagai Variabel Moderasi. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 12(3), 2251-2263. https://doi.org/10.35870/jemsi.v12i3.6284
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This article has been peer-reviewed and published in the JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi). The content is available under the terms of the Creative Commons Attribution 4.0 International License.

  • Issue: Vol. 12 No. 3 (2026)

  • Section: Articles

  • Published: 2026-06-01

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Author Biographies
Fitriya Anjelina, Institut Teknologi dan Bisnis Ahmad Dahlan Lamongan
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Institut Teknologi dan Bisnis Ahmad Dahlan Lamongan, Indonesia.

Aranta Prista Dilasari, Institut Teknologi dan Bisnis Ahmad Dahlan Lamongan
Google Scholar ResearchGate ORCID

Institut Teknologi dan Bisnis Ahmad Dahlan Lamongan, Indonesia.

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