Analisis Pengaruh Tata Kelola Perusahaan dan Karakteristik Perusahaan terhadap Kebijakan Dividen pada Perusahaan yang terdaftar di BEI

Abstract

This research aims on analyzing the effects of Corporate Governance which is measured by board size and board independence also Firm Characteristics which is measured by financial leverage, growth, firm size, earning per share, return on asset, and return on equity to Dividen Policy. The research populations were taking from the financial reports of companies listed in Indonesia Stock Exchange in the period 2008 until period of 2012. Using the purposive sampling method, the samples which meet the requirements for this research are 102 firms or 510 observations data. This research uses multiple regression method to analyze the effect of independent variables on dependent variable. The observations data are then analyzed using statitical package for social sciences version 21st (SPSS 21).

The result indicates that financial leverage, growth, firm size, earning per share, and return on equity have a significant effect on dividend policy in Indonesia Stock Exchange. However this research found that board size,board independence, return on asset are insignificant to dividen policy in Indonesia Stock exchange.