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All Journal Gadjah Mada International Journal of Business
Leo Indra Wardhana
Socpus ID: 57193538982. Department of Economics and Business Vocational College, Universitas Gadjah Mada, Indonesia
Economics, Econometrics & Finance

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Do We Need a Regulation on Dividends for Indonesia Stock Exchange? Leo Indra Wardhana; Eduardus Tandelilin
Gadjah Mada International Journal of Business Vol 20, No 1 (2018): January-April
Publisher : Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (66.97 KB) | DOI: 10.22146/gamaijb.25055

Abstract

This study examines the dividend life-cycle hypothesis and the propensity of non-financial firms listed on the Indonesia Stock Exchange (IDX) to pay dividends, in light of a recent idea by the IDX to regulate dividend payments. Using several proxies of the life cycle, the results consistently show that Indonesian listed firms follow the dividend life-cycle hypothesis. Our results recommend that if the authority insists on regulating dividend payments, the regulation should take into account the firms’ life cycles. Firms should only be required to pay dividends when they reach a certain stage and/or meet defined characteristics, according to their stage or characteristics.
Co-Authors Eduardus Tandelilin