IARJ

Pengaruh Ketidakpastian Aliran Kas, Kontribusi Bauran Modal dan Kesempatan Investasi Terhadap Kebijakan Dividen

PENGARUH KETIDAKPASTIAN ALIRAN KAS, KONTRIBUSI BAURAN MODAL DAN KESEMPATAN INVESTASI TERHADAP KEBIJAKAN DIVIDEN

NATALIA RETNO IKA SUNDARI
Fakultas Ekonomi Universitas Widya Mataram

ABSTRACT

This study aims at finding factors affecting dividend policy. It used all firms that announced dividend listed at Indonesian Stock Exchange 2009-2013 period as samples. Independent variables in this study were Cash Flow Uncertainty, Mixed Capital Contribution, Investment Opportunities, and Control Variables such as Firms Size, Return on Assets, and Cash Holding. Meanwhile, dependent variable was dividend policy. 115 firms used as purposive sampling and multiple linear regression used as data analysis method. The results of the hypothesis testing showed that Cash Flow Uncertainty and Investment Opportunity had a negative and significant affect on dividend policy, while Return on Assets had a positive and significant affect on Dividend policy. Indeed, this study finds that Mixed Capital Contribution, Firms Size, and Cash Holding have no significant effect on dividend policy.
Keywords: Cash Flow Uncertainty, Mixed Capital Contribution, Investment Opportunities, Firms Size, Return on Assets and Cash Holding.

4. Natalia Retno Ika Sundari


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