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An Examining the Firm Life-Cycle Theory of Dividends in Indonesia

Management Analysis Journal · Vol. 7 No. 3 (2018) · hlm. 267–279

DOI
10.15294/maj.v7i3.23441
ISSN
2502-1451, 2252-6552
Terbit
2018-09-25
Penerbit
Universitas Negeri Semarang
Bahasa
eng

Abstrak

This study aims to examine the company’s propensity of manufacture companies to pay dividend effected by retained earning to total equity (RE/TE) in their life cycle stages by controlling profitability, sales growth and firm size. Furthermore, this study also explains the company’s propensity to pay a dividend before and after the global crisis particularly Subprime Mortgage. The firm ’s life cycle consists of four stages: start-up, growth, mature and decline stage. This research is explanatory research by using regression qualitative response analysis. The purposive sampling used to determine the research sample. Thus 75 manufacture companies which are listed on the Indonesia Stock Exchange (IDX) in 2005 to 2016 have been selected as the research sample. This result shows that the Manufacture companies listed on IDX in 2005 to 2016 tend to pay a dividend on the mature stage before and after Subprime Mortgage. In the mature stage, the manufacture companies have a bigger probability of paying a dividend rather than in start-up, growth and decline stage in 2005 to 2016. The company’s propensity to pay a dividend in the mature stage is bigger than the start-up, growth and decline stage before and after the Subprime Mortgage crisis. The conclusion of this study explains that the manufacture companies employ the life-cycle theory of dividend in their dividend policy.

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  • State University of Semarang
  • Universitas Media Nusantara Citra
  • Universitas Muara Bungo
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Rekan penulisOrganisasiArtikel bersama
Suwito Eko PramonoAfiliasi tidak diketahui5
Tri Joko RaharjoAfiliasi tidak diketahui5
Tri Joko RaharjoAfiliasi tidak diketahui4
Widiyanto WidiyantoAfiliasi tidak diketahui4
Noor HudallahAfiliasi tidak diketahui3
Sucihatiningsih Dian Wisika PrajantiState University of Semarang2
Nina OktarinaAfiliasi tidak diketahui2
Agus WahyudinAfiliasi tidak diketahui2
Sugiyo SugiyoAfiliasi tidak diketahui2
Titi PrihatinAfiliasi tidak diketahui2
Muhammad KhafidAfiliasi tidak diketahui2
Kardoyo KardoyoAfiliasi tidak diketahui2
I Gusti Ayu Agung Aristi PutriUniversitas Media Nusantara Citra1
Ananda Fiky Dibanu KhaerUniversitas Media Nusantara Citra1
Tri Joko RaharjoState University of Semarang1
Harianingsih HarianingsihState University of Semarang1
Didik WiyonoState University of Semarang1
Muhammad Zaini MiftahState University of Semarang1
Angga Pandu WijayaState University of Semarang1
Margareta RahayuningsihAfiliasi tidak diketahui1
S MartonoAfiliasi tidak diketahui1
Soesanto SoesantoAfiliasi tidak diketahui1
Agnees Dyah RachmawatieAfiliasi tidak diketahui1
Siti Fiki IkmahAfiliasi tidak diketahui1
Gatot Hadi PrasetyoAfiliasi tidak diketahui1
Yeri SutopoAfiliasi tidak diketahui1
Edi YuliantoAfiliasi tidak diketahui1
Fitri NurjannahAfiliasi tidak diketahui1
Aprilia SusantiUniversitas Muara Bungo1
WasinoAfiliasi tidak diketahui1
Suwito Eko ParmonoAfiliasi tidak diketahui1
Fathur RokhmanState University of Semarang1
WidiyantoAfiliasi tidak diketahui1
Abdul MuklisAfiliasi tidak diketahui1
Nurlaily MauludiyahAfiliasi tidak diketahui1
Murwatiningsih MurwatiningsihAfiliasi tidak diketahui1
Yan Septio Bintoro AndaniAfiliasi tidak diketahui1
Siti HandayaniAfiliasi tidak diketahui1

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Sumber metadata: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/sju/index.php/maj/oai, pertama di-harvest 6 Nov 2026, terakhir terlihat 6 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en-US">An Examining the Firm Life-Cycle Theory of Dividends in Indonesia</dc:title>
	<dc:creator>Murtiana, Suci</dc:creator>
	<dc:creator>Yulianto, Arief</dc:creator>
	<dc:description xml:lang="en-US">This study aims to examine the company’s propensity of manufacture companies to pay dividend effected by retained earning to total equity (RE/TE) in their life cycle stages by controlling profitability, sales growth and firm size. Furthermore, this study also explains the company’s propensity to pay a dividend before and after the global crisis particularly Subprime Mortgage. The firm ’s life cycle consists of four stages: start-up, growth, mature and decline stage. This research is explanatory research by using regression qualitative response analysis. The purposive sampling used to determine the research sample. Thus 75 manufacture companies which are listed on the Indonesia Stock Exchange (IDX) in 2005 to 2016 have been selected as the research sample. This result shows that the Manufacture companies listed on IDX in 2005 to 2016 tend to pay a dividend on the mature stage before and after Subprime Mortgage. In the mature stage, the manufacture companies have a bigger probability of paying a dividend rather than in start-up, growth and decline stage in 2005 to 2016. The company’s propensity to pay a dividend in the mature stage is bigger than the start-up, growth and decline stage before and after the Subprime Mortgage crisis. The conclusion of this study explains that the manufacture companies employ the life-cycle theory of dividend in their dividend policy.</dc:description>
	<dc:publisher xml:lang="en-US">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2018-09-25</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/sju/maj/article/view/23441</dc:identifier>
	<dc:identifier>10.15294/maj.v7i3.23441</dc:identifier>
	<dc:source xml:lang="en-US">Management Analysis Journal; Vol 7 No 3 (2018): Management Analysis Journal; 267-279</dc:source>
	<dc:source>2502-1451</dc:source>
	<dc:source>2252-6552</dc:source>
	<dc:source>10.15294/maj.v7i3</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/sju/maj/article/view/23441/12566</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2018 Management Analysis Journal</dc:rights>
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