Pengaruh Kebijakan Dividen terhadap Laba di Masa Depan

Abstract

This study uses Lintner's (1956) dividend policy estimation model to examine the effect of earnings and earnings. Leverage on dividend policies. The population in this study were manufacturing companies listed on the Indonesia Stock Exchange between 2014 and 2016. Sampling was carried out by purposive sampling technique, which then took 52 sample companies with 139 observations for the first stage analysis and 46 sample companies with 79 observations. for analysis at the second stage. This study fulfills the classical assumption test which is required as a condition for conducting multiple linear regression analysis. The results of the analysis show that dividend policy has no positive effect on future earnings.This study uses Lintner's (1956) dividend policy estimation model to examine the effect of earnings and earnings. Leverage on dividend policies. The population in this study were manufacturing companies listed on the Indonesia Stock Exchange between 2014 and 2016. Sampling was carried out by purposive sampling technique, which then took 52 sample companies with 139 observations for the first stage analysis and 46 sample companies with 79 observations. for analysis at the second stage. This study fulfills the classical assumption test which is required as a condition for conducting multiple linear regression analysis. The results of the analysis show that dividend policy has no positive effect on future earnings.
 Keywords: Estimation Model; Dividend Policy; Profit; Leverage; Future Profits.

Do dividends still matter? The role of investment opportunities on the ability of dividends to predict future earnings

“…Journal of Accounting and Investment, 2023 | 530 in conveying future earnings because dividend policy has no positive effect on future earnings (Anggara, 2020). The finding of this research also explains inconsistent results of the effect of dividends by an alternative explanation from the companies' characteristic viewpoint: investment opportunities.…”

“…Dividend changes are related to the company's earnings changes in the future (Gultom, 2018;Prasetyanta, 2014) and stock prices (Riyani & Andriana, 2019;Widsatrya & Subroto, 2014). Rejecting roles in predicting future earnings have also been found (Anggara, 2020). Even though the result also rejects dividends payment in financial performance, companies that offer low dividend rates positively impact the company's financial performance (Nuriksani & Sari, 2022).…”

“…It raises questions about whether Indonesian investors correctly take the company's signals. Additionally, research on dividends in Indonesia still focused on the effect of dividend policy or changes in dividends on profits or changes in profits with inconsistent results (Anggara, 2020;Gultom, 2018;Widsatrya & Subroto, 2014), but no one provided an explanation of the company's characteristics based on investment opportunities. Therefore, this research seeks to provide alternative explanations for these inconsistencies.…”