Ownership Structure on Dividend Policy and Its Impact on Firm Value

DOI

10.2991/aebmr.k.210311.081How to use a DOI?

Keywords

ownership structure, dividend policy, firm value, control variables

Abstract

The purpose of this study is to examine the effect of share ownership structure on dividend policy and its impact on firm value. Ownership structure is proxied by managerial ownership, institutional ownership, and ownership concentration. The research data were obtained from manufacturing companies listed on the Indonesia Stock Exchange (BEI) 2016-2018 using purposive sampling method of selecting samples. The results of hypothesis testing using multiple regressions indicate that institutional ownership and ownership concentration have a positive effect on dividend policy, while managerial ownership has no effect. The results also show that dividend policy has a positive effect on firm value. As predicted, profitability and leverage as control variables have an effect on dividend policy and firm value.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Jacobus Widiatmoko
AU  - Achmad Badjuri
AU  - Moch. Irsad
AU  - Agung Anugerah Adhipratama
PY  - 2021
DA  - 2021/03/13
TI  - Ownership Structure on Dividend Policy and Its Impact on Firm Value
BT  - Proceedings of the 3rd International Conference on Banking, Accounting, Management and Economics (ICOBAME 2020)
PB  - Atlantis Press
SP  - 405
EP  - 408
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210311.081
DO  - 10.2991/aebmr.k.210311.081
ID  - Widiatmoko2021
ER  -