Effect of profitability and dividend policy on corporate governance and firm value: Evidence from the Indonesian manufacturing Sectors

Tamrin, Muhammad; Mus, H. Rahman; Sudirman,; Arfah, Aryati

doi:10.31237/osf.io/sfjqc

Cited by 6 publications

(8 citation statements)

References 3 publications

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“…Long-term investors focus on profitability analysis to obtain increased welfare in the form of dividends, future cash flows and an increase in company investment. Research by Tamrin et al (2017) found a direct effect of profitability on the value of manufacturing companies on the Indonesia Stock Exchange. However, it failed to find the role of corporate governance and dividends as mediating variables between profitability and firm value.…”

Section: Profitability and Firm Valuementioning

confidence: 99%

“…Companies that have sustained earnings growth and are followed by high revenue growth have a high earnings response coefficient. Tamrin et al (2017) stated that the synergy between investment, financial and dividend policy is the main factor determining firm value. Corporate governance structure and company financial policies are mechanisms created to increase the company's profitability.…”

Section: Profitability and Firm Valuementioning

confidence: 99%

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Profitability, Audit Quality, and Firm Value: Case on Indonesian Manufacturing Companies

Wijaya¹

2020

CYN

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This study will examine the effect of profitability on firm value with audit quality as a moderating variable. This research was conducted at the manufacturing firm listed on the Indonesian capital market in 2013-2017. The population in this study are all manufacturing firm listed on the Indonesian capital market. The research sample was obtained by using the purposive method. The research data were analyzed moderated regression analysis. The results of this study indicate that; 1) profitability has a positive effect on the value of manufacturing firms on the Indonesian capital market, 2). Audit quality strengthens the effect of profitability on the value of a manufacturing firm on the Indonesian capital market. This research proves that there is a positive response from investors in the Indonesian capital market on reporting earnings from companies audited by the big four public accounting firms.

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Section: Profitability and Firm Valuementioning

confidence: 99%

Section: Profitability and Firm Valuementioning

confidence: 99%

Profitability, Audit Quality, and Firm Value: Case on Indonesian Manufacturing Companies

Wijaya¹

2020

CYN

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“…Kristianti dan Foeh [8] menemukan bahwa kebijakan dividen berhasil memediasi pengaruh profitabilitas terhadap nilai perusahaan sedangkan Dewi et al [7] menemukan bahwa kebijakan dividen berhasil memediasi pengaruh free cash flow terhadap nilai perusahaan. Di sisi lain, Tamrin et al [9] tidak menemukan peran kebijakan dividen sebagai variabel intervening antara profitabilitas terhadap nilai perusahaan sedangkan Suartawan dan Yasa [10] tidak menemukan peran kebijakan dividen sebagai variabel intervening antara free cash flow terhadap nilai perusahaan. Hasil yang tidak konsisten mengenai pengaruh kebijakan dividen terhadap nilai perusahaan [11]- [13] dan peran intervening kebijakan dividen antara pengaruh profitabilitas dan free cash flow terhadap nilai perusahaan [7]- [10] karena penelitian terdahulu hanya mempertimbangkan kebijakan dividen dari sisi rasio pembagian dividen saja dan tidak mempertimbangkan sisi kontinuitas pembagian dividen.…”

Section: Pendahuluanunclassified

Pengaruh Profitabilitas Dan Free Cash Flow Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Intervening Pada Perusahaan Yang Terdaftar Di Indeks High Dividend 20

Nuryanti

Roesdy

Fitri

2021

jakb

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Penelitian ini bertujuan untuk menguji pengaruh profitabilitas dan free cash flow terhadap nilai perusahaan dengan kebijakan dividen sebagai variabel intervening. Sampel penelitian yaitu 40 tahun-perusahaan yang terdaftar di Indeks High Dividend 20 tahun 2018-2019. Variabel independen yaitu profitabilitas dan free cash flow. Variabel dependen yaitu nilai perusahaan. Variabel intervening yaitu kebijakan dividen. Uji hipotesis menggunakan uji regresi dan uji Sobel. Hasil analisis menunjukkan (1) profitabilitas dan free cash flow berpengaruh positif terhadap kebijakan dividen, (2) kebijakan dividen, profitabilitas, dan free cash flow berpengaruh positif terhadap nilai perusahaan, (3) profitabilitas dan free cash flow berpengaruh positif terhadap nilai perusahaan melalui kebijakan dividen. Kata kunci: kebijakan dividen, nilai perusahaan, profitabilitas, free cash flow, indeks high dividend 20

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“…The Forum for Corporate Governance in Indonesia (FCGI) defines Corporate Governance as a set of rules governing the relationship between shareholders, company management or management, creditors, government, employees, and other internal and external stakeholders relating to their rights and obligations, thereby creating added value for all interested parties (stakeholders) (Tamrin et al, 2018). According to Bista, (2019) Good Corporate Governance is a principle that directs and controls companies to balance the company's strengths and authority in providing accountability to all shareholders.…”

Section: Introductionmentioning

confidence: 99%

Moderation of Good Corporate Governance: Agency Cost, Liquidity Ratio, and Leverage on Dividend Policy

Opu

Indriakati²

2022

ATESTASI

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This study examines and determines the effect of agency cost, liquidity ratio, and leverage on dividend policy with good corporate governance as a moderating variable in the food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange. This research is quantitative. Withdrawal of research hypotheses using agency and signaling theories is supported by previous studies with similar variables. The research object is the food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange for 2019-2021. Research variables include Agency Cost, Liquidity Ratio, Leverage, Good Corporate Governance, and Dividend Policy. The data source used is secondary data from the collection of financial statement documents. The analytical method consists of panel data regression analysis and testing of all hypotheses through moderated linear regression analysis, t-test, and testing of the coefficient of determination with the help of Eviews 12 for data analysis. The results show that partially Agency Cost; Liquidity Ratio has a negative and significant effect on Dividend Policy in food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange. While Leverage Disclosure partially has a positive and insignificant impact on Dividend Policy in food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange.

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Effect of profitability and dividend policy on corporate governance and firm value: Evidence from the Indonesian manufacturing Sectors

Cited by 6 publications

References 3 publications

Profitability, Audit Quality, and Firm Value: Case on Indonesian Manufacturing Companies

Profitability, Audit Quality, and Firm Value: Case on Indonesian Manufacturing Companies

Pengaruh Profitabilitas Dan Free Cash Flow Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Intervening Pada Perusahaan Yang Terdaftar Di Indeks High Dividend 20

Moderation of Good Corporate Governance: Agency Cost, Liquidity Ratio, and Leverage on Dividend Policy

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