The Effect of Dividend Policy, Debt Policy, and Asset Growth on Firm Value with Managerial Ownership as Moderating Variables

(Empirical Study on Manufacturing Companies Listed on the Indonesian Stock Exchange)

DOI

10.2991/aebmr.k.220204.011How to use a DOI?

Keywords

Dividend Policy; Debt Policy; Asset Growth; Managerial Ownership; Firm Value

Abstract

The purpose of this study is to examine the influence of dividend policy, debt policy, and asset growth on firm value in manufacturing businesses listed on the Indonesian Stock Exchange from 2016 to 2020, with managerial ownership serving as a moderating variable. Samples were gathered from 11 of the 184 establishments listed on IDX for this investigation. (1) With a significance threshold of 0.412>0.05, the study’s findings imply that dividend policy has no effect on company value. The findings of this study are comparable to those of [1]. (2) policies that have a negative impact on firm value, with a significance level of 0.001 t table 1.675, and because policy variables have a negative (-) effect on firm value, (3) growth assets, with a significance level of 0.334 > 0.05 and a value of 0.975 t table 1.675. This illustrates that the asset growth variable has no bearing on a business’s value. (4) The relationship between dividend policy and firm value is unaffected by managerial ownership. The dividend policy and managerial ownership variables both have a 0.722 level of significance. This finding, which above the significance criterion of 0.05, implies that managerial ownership has no influence on dividend policy or firm value and that ownership management is incapable of updating the debt policy-firm value relationship. The dividend policy and ownership variables have a combined significance of 0.701. This value is greater than 0.05, indicating that ownership has no effect on the relationship between asset growth and business value, and (6) managerial ownership modernizes the relationship between asset growth and business value. The significance levels for dividend policy variables and management ownership are more than 0.05, indicating that managerial ownership has no effect on the relationship between dividend policy and company value.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Ranti Nurdiansari
AU  - Anis Sriwahyuni
AU  - Rizki Apriani
AU  - Nur Hidayah K Fadhilah
PY  - 2022
DA  - 2022/02/10
TI  - The Effect of Dividend Policy, Debt Policy, and Asset Growth on Firm Value with Managerial Ownership as Moderating Variables
BT  - Proceedings of the International Conference on Economics, Management and Accounting (ICEMAC 2021)
PB  - Atlantis Press
SP  - 100
EP  - 108
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220204.011
DO  - 10.2991/aebmr.k.220204.011
ID  - Nurdiansari2022
ER  -