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All Journal Jurnal Akuntansi Multiparadigma Binus Business Review SOSHUM : Jurnal Sosial dan Humaniora [Journal of Social Sciences and Humanities] International Journal of Communication and Society Journal of Industrial Engineering & Management Research (JIEMAR) International Journal of Social and Management Studies (IJOSMAS) Journal of Economics and Business Letters International Journal of Applied Finance and Business Studies BISMA (Bisnis dan Manajemen) Proceedings of The International Conference on Business and Economics Jurnal Riset Manajemen Journal of Management and Social Sciences Maslahah: Jurnal Manajemen dan Ekonomi Syariah
Nagian Toni
Universitas Prima Indonesia
Religion Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences

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Journal : Binus Business Review

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Dividend Policy as Moderating Variable to the Consumer Goods Company on the Indonesia Stock Exchange Nagian Toni; Enda Noviyanti Simorangkir; Thomas Sumarsan Goh
Binus Business Review Vol. 12 No. 3 (2021): Binus Business Review
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/bbr.v12i3.6815

Abstract

The capital market in Indonesia includes many companies from several sectors. One company that cannot be separated from the Indonesian stock market is a consumer goods company. The research aimed to analyze the effect of profitability and capital structure on the company with dividend policy as moderating variable to the consumer goods companies registered on the Indonesia Stock Exchange in the period of 2014-2018. The population in the research was consumer goods companies with subsector of food and drink, cigarette, cosmetic pharmacy, and household goods and appliances. The research applied purposive sampling and obtained 15 companies with 5 years of observation or around 75 samples. Then, the data were analyzed using Smart PLS 3.0. The analysis result shows that profitability, capital structure, and company size positively and significantly influence the company value. However, dividend policy cannot moderate the effect of profitability and capital structure on the company value. The dividend policy can moderate the effect of company size on the company value. Then, profitability, capital structure, and company size influence the company value of 88,6%, while the other factors influence the rest. Investors should decide on issuers with high profitability above 5%, the optimal capital structure with the debt-to-equity ratio between 0,8-1,2, and total assets above five trillion Rupiah.
Co-Authors Adam Afiezan Angelia Angelia Debri Ton Mario Hutasoit Dian Wahyuni Elly Romi Enda Noviyanti Simorangkir Erika Erika Fuandri Fuandri Gai Sin Liem Galumbang Hutagalung Goh, Thomas Sumarsan Halimatu Saddiah Marpaung Henry Henry Hesty Amalia Gultom Isieny Wendy Jesslyn Kosasih Jonathan Charmian Vivaldy Kuras Purba Mettania Kirana Muslim syamsuddin Paningkat Siburian Ryan Wijaya Sofiyan Syaifuddin Syaifuddin Syaifuddin Syaifuddin vina widya sari yanraja David Hamonangan Damanik Yeni Ariesa Yusuf Ronny Edward