Determinants of Dividend Policy and Their Impact on Company Value

Authors

  • Sukirno Sukirno Serang Raya University, Indonesia
  • Fina Sutianti Riffendi Serang Raya University, Indonesia
  • Ahmad Hatta Serang Raya University, Indonesia
  • Imas Kusumawati Serang Raya University, Indonesia

Keywords:

Dividend Policy, Free Cash Flow, Receivable Turnover

Abstract

This study aims to analyze the effect of Free Cash Flow and Receivable Turnover on Dividend Policy and its impact on Company Value. The data collected are secondary data with documentation methods in the form of company annual reports. The analysis tool used to test the hypothesis is SPSS 25. The sampling method used in this study uses purposive sampling technique and obtained 18 company samples from 118 company populations. The analysis technique used is linear regression analysis. The results of the study partially concluded that Free Cash Flow has a significant positive effect on dividend policy, Receivable Turnover does not affect dividend policy and Dividend policy does not affect company value

References

Affandi, F. (2018). The Influence of Cash Ratio, Debt to Equity Ratio, Receivables Turnover, Net Profit Margin, Return on Equity, and Institutional Ownership on Dividend Payout Ratio (Empirical Study of Manufacturing Companies Listed on the Indonesian Stock Exchange) (Doctoral dissertation, Jenderal Soedirman University).

Azhar, N., & Chaidir, H. (2017). Dividend Payout Ratio: Issues of Free Cashflow, Debt To Equity Ratio, Institutional Ownership, Investment Opportunity, and Employee Welfare. Liquidity, 6(1), 1-11.

Fauziah, F. 2017. Bank Health, Dividend Policy, and Company Value Theory and Empirical Studies. RVs. Horizon Library.

Harmono. 2011. Financial Management: Scorecard Based Approach to Theory, Cases and Research. Ed. 1, Cet. 2 Jakarta: Bumi Literacy.

Husna, A., & Satria, I. (2019). Effects of return on asset, debt to asset ratio, current ratio, firm size, and dividend payout ratio on firm value. International Journal of Economics and Financial Issues, 9(5), 50.

Indrarini, S. (2018). Company Value Through Profit Quality (N. Azizah (ed.)). Scopindo Media Library.

Published

2024-08-14

How to Cite

Sukirno Sukirno, Fina Sutianti Riffendi, Ahmad Hatta, & Imas Kusumawati. (2024). Determinants of Dividend Policy and Their Impact on Company Value. Multidisciplinary Joint Akseprin Journal, 2(3), 52–61. Retrieved from https://jurnal.akseprin.org/index.php/MJAJ/article/view/126

Issue

Vol. 2 No. 3 (2024): September -December

Section

Articles

License

Copyright (c) 2024 Sukirno Sukirno, Fina Sutianti Riffendi, Ahmad Hatta, Imas Kusumawati

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.