Year: 2024 | Month: January | Volume: 11 | Issue: 1 | Pages: 243-253
DOI: https://doi.org/10.52403/ijrr.20240126
The Influence of Managerial Ownership, Institutional Ownership, Profitability, and Leverage on Dividend Policy with Liquidity as a Moderation Variable in Manufactured Companies Listed on the Indonesia Stock Exchange in 2014-2021
Achmad Rifqi1, Erlina2, Chandra Situmeang3
1,2,3Department of Accounting, Faculty of Economics and Business, Universitas Sumatera Utara, Indonesia
Corresponding Author: Achmad Rifqi
ABSTRACT
This research examines the influence of managerial ownership, institutional ownership, profitability, and leverage on dividend policy, with liquidity as a moderating variable in manufacturing companies listed on the Indonesia Stock Exchange. This research design uses a quantitative approach with secondary data as a sample of 22 manufacturing companies listed on the Indonesia Stock Exchange in 2014-2021. The sampling technique is purposive sampling. The data analysis technique uses multiple linear regression analysis and residual tests for moderating variables, which are carried out with the help of the EViews program. This research shows that institutional ownership, profitability, and leverage variables significantly affect dividend policy. Meanwhile, managerial ownership does not have a significant effect on dividend policy. Liquidity as a moderating variable can moderate the influence of leverage on dividend policy. However, it cannot moderate the impact of managerial ownership, institutional ownership, and profitability on dividend policy.
Keywords: managerial ownership, institutional ownership, profitability, leverage, liquidity, dividend policy.
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