| dc.description.abstract | Dividend policy has been puzzling for researchers for decades. The level of dividend
varies
not
only
across
industries,
but
also
across
countries.
This
research
analyzes
the
dividend
policy
of
Indonesian
public
companies,
in particular
it
examines
the
partial
effect
of
cash
ratio,
debt
ratio,
company
size,
profitability,
and
asset
growth
on
cash
dividend
policy
in Indonesia
Stock
Exchange
from
2008 to
2015.
A
total
of
102 companies
was
used
as
a sample.
The
samples
are
divided
into
four
groups:
(1) a group
of
companies
paying
changeable
dividends
(Change
group),
(2)
a
group
of
companies
paying
continuous
dividends,
but
then
stop
paying
dividend
(Omission
group),
(3) a group
of
companies
that
initially
do not
pay
the
dividends,
but
then
continuously
paying
dividend
(Initiation
group);
and
(4) a group
of
companies
paying
constant
dividends
(Constant
group).
Results
of
hypotheses
testing using multiple regression analysis show that profitability and asset growth affect
dividend policy in all company groups. Company size affects dividend policy in
the Change, Initiation, and Constant groups. Debt ratio influences dividend policy
only in the Change group. | en_US |
