THE INFLUENCE OF AGENCY COST, MARKET RISK, AND INVESTMENT OPPORTUNITIES ON DIVIDEND POLICY (Study on companies which is listed on Indonesia Stock Exchange during 2005-2008 observation period) By : Dedeh Sri Sudaryanti Universitas Padjadjaran Bandung
Abstract This research to analyses influence between agency cost which is proxies by the percentage of ownership stock by various clusters namely institutional ownership, insider ownership, and ownership dispersion ( ownership stock by public), market risk (beta), and investment opportunities to dividend policy. Population in this research is all company which is listed on Indonesia Stock Exchange during 2005 – 2008 observation period with sampling technique use purposive sampling. This research designed as descriptive research and verifikatif with data type applied in this research is secondary data. Data is analysed by using panel data regression analysis and statistically hypothesis tested with F test and test t. Result of research and testing of hypothesis indicates that in simultan variable institutional ownership, insider ownership, and ownership dispersion ( public), market risk, and opportunity of investment influential signifikan to dividend policy. Partially institutional ownership, ownership dispersion ( public), and investment opportunity influential positive and signifikan to dividend policy on α = 0,05, insider ownership influential positive and signifikan at α = 0,1, while beta is having an effect on positive but doesn't signifikan.
Key words : agency cost, beta, investment opportunities, dividend
PENGARUH AGENCY COST, RISIKO PASAR, DAN KESEMPATAN INVESTASI TERHADAP KEBIJAKAN DIVIDEN (studi pada perusahaan yang terdaftar di Bursa Efek Indonesia periode 2005-2008) By : Dedeh Sri Sudaryanti Universitas Padjadjaran Bandung
Penelitian ini bertujuan untuk mengetahui dan menganalisis pengaruh antara agency cost yang diproksikan dengan ukuran prosentase kepemilikan saham oleh...