DIVIDEND POLICY AND FOREIGN OWNERSHIP (EMPIRICAL RESEARCH IN NONFINANCE COMPANY THAT LISTED IN INDONESIAN STOCK EXCHANGE)

Widiastuti, Marselina and Midiastuty, Pranata P and Suranta, Eddy (2014) DIVIDEND POLICY AND FOREIGN OWNERSHIP (EMPIRICAL RESEARCH IN NONFINANCE COMPANY THAT LISTED IN INDONESIAN STOCK EXCHANGE). In: Menuju Pengelolaan Keuangan yang Berkualitas Transparan Dan Akuntabel, 25-28 September 2013, Manado.

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Abstract

Abstract: This re,search aim to obf{in empirical evidence about the dividend policy and foreign ownership. Dividercd policy is measureci by diwdend to book ratio (DTB) and. foreign ownership is measured by total af foreign owner, ship in encl of year. This research not onlt use two main variables but al,\;o use control variables are leverage, free cash flow (FCF) and return an asset (R.OA). The sampling method used wcts purposive sampling of the nonfnance compsny listed on tlrc Stock Exchange during the period 2A07-2011.The data u,yed in this study is secondary data obtained financial data on the web,cite www.idx.com. The number of companies.fnal samples in this study were 29 This study uses Ordinary Least Squcrre (OLS) regression analysis to test the hypothesis by using and Two Stages Least Squre ISLS) Jbr to test sirnultaneous problem between dividend policy and.foreign ownership with Eviews version 5.]. The test results showed the dividend policy have negat)ve and signi/icant impact toward study. And then foreign ownership, not compafible with the first hypothetical.foreign ownership htwe negative impact antl signrficant with dividend policy, compat)ble with second hypothesis in this research.

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