Path: Top > Journal Politeknik Negeri Bandung > Jurusan Akuntansi > EKSPANSI > Volume 2 Nomor 1 Mei 2010

Pengaruh Kebijakan Dividen Terhadap Nilai Perusahaan pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

Journal from JBPTPPOLBAN / 2012-03-22 10:47:40
Oleh : Etti Ernita Sembiring
Dibuat : 2012-03-22, dengan 1 file

Keyword : the relevance of dividend policy, price to book value, Tobin’s Q. Price earnings ratio

This research is motivated by the controversy about the relevance of dividend policy and the inconsistency of research result on the dividend policy. Modigliani and Miller (1961) state that the dividend is irrelevant to the company values. Whereas, some other researchers say that dividend is relevant to the company values 9Myron Gordon, 1961, Litzenberger and Ramaswamy, 1979). The relevance of the dividend on the company values associated with some theories : the signalling theory, the tax preference theory, the bird in the hand theory and the agency theory. This study proposed hypothesis dividend policy affects company values was represented by Tobin’s Q variable. Analysis tool used is a regression with variable of size, leverage and growth as control variables. The result of this study demonstrate that the hypothesis is not supported

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