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Journal

Determinants of Dividend Payout of Indonesian Companies

Management Analysis Journal · Vol. 8 No. 3 (2019) · pp. 321–329

DOI
10.15294/maj.v9i3.34306
ISSN
2502-1451, 2252-6552
Published
2019-09-20
Publisher
Universitas Negeri Semarang
Language
eng

Abstract

Dividend policy is a decision about how much earning after tax that will paid as dividend rather than being retained for investment in the company. The data from Indonesia Stock Exchange show that there are still many company that do not pay dividends consistently, whereas dividend policy use as a signal given by the company to outsiders for their performance. This study aims to determine the effect of profitability, leverage, and firm size to dividend policy.The type of this research is a quantitative research by using secondary data. The population in this research are the company that listed in Indonesia Stock Exchange period 2005-2017. The samples used are 43 companies with purposive sampling method. The method of data analysis used is multiple linear regression by using fixed effect model (Least Square Dummy Variable). The research results reveals that leverage and firm size affects significantly on the dividend policy, whereas profitability do not affect significantly on the dividend policy.

Collaboration network of the authors

40 authors · 122 co-authorship links · 3 across different organisations · showing the 40 most connected

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • State University of Semarang
  • Universitas Media Nusantara Citra
  • Universitas Muara Bungo
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Suwito Eko PramonoAffiliation unknown5
Tri Joko RaharjoAffiliation unknown5
Tri Joko RaharjoAffiliation unknown4
Widiyanto WidiyantoAffiliation unknown4
Noor HudallahAffiliation unknown3
Sucihatiningsih Dian Wisika PrajantiState University of Semarang2
Nina OktarinaAffiliation unknown2
Agus WahyudinAffiliation unknown2
Sugiyo SugiyoAffiliation unknown2
Titi PrihatinAffiliation unknown2
Muhammad KhafidAffiliation unknown2
Kardoyo KardoyoAffiliation unknown2
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 RahayuningsihAffiliation unknown1
S MartonoAffiliation unknown1
Soesanto SoesantoAffiliation unknown1
Agnees Dyah RachmawatieAffiliation unknown1
Siti Fiki IkmahAffiliation unknown1
Gatot Hadi PrasetyoAffiliation unknown1
Yeri SutopoAffiliation unknown1
Edi YuliantoAffiliation unknown1
Fitri NurjannahAffiliation unknown1
Aprilia SusantiUniversitas Muara Bungo1
WasinoAffiliation unknown1
Suwito Eko ParmonoAffiliation unknown1
Fathur RokhmanState University of Semarang1
WidiyantoAffiliation unknown1
Abdul MuklisAffiliation unknown1
Nurlaily MauludiyahAffiliation unknown1
Murwatiningsih MurwatiningsihAffiliation unknown1
Yan Septio Bintoro AndaniAffiliation unknown1
Siti HandayaniAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/sju/index.php/maj/oai, first harvested 6 Nov 2026, last seen 6 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en-US">Determinants of Dividend Payout of Indonesian Companies</dc:title>
	<dc:creator>Octaviana, Irma</dc:creator>
	<dc:creator>Yulianto, Arief</dc:creator>
	<dc:description xml:lang="en-US">Dividend policy is a decision about how much earning after tax that will paid as dividend rather than being retained for investment in the company. The data from Indonesia Stock Exchange show that there are still many company that do not pay dividends consistently, whereas dividend policy use as a signal given by the company to outsiders for their performance. This study aims to determine the effect of profitability, leverage, and firm size to dividend policy.The type of this research is a quantitative research by using secondary data. The population in this research are the company that listed in Indonesia Stock Exchange period 2005-2017. The samples used are 43 companies with purposive sampling method. The method of data analysis used is multiple linear regression by using fixed effect model (Least Square Dummy Variable). The research results reveals that leverage and firm size affects significantly on the dividend policy, whereas profitability do not affect significantly on the dividend policy.</dc:description>
	<dc:publisher xml:lang="en-US">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2019-09-20</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
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	<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/34306</dc:identifier>
	<dc:identifier>10.15294/maj.v9i3.34306</dc:identifier>
	<dc:source xml:lang="en-US">Management Analysis Journal; Vol 8 No 3 (2019): Management Analysis Journal; 321-329</dc:source>
	<dc:source>2502-1451</dc:source>
	<dc:source>2252-6552</dc:source>
	<dc:source>10.15294/maj.v9i3</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/sju/maj/article/view/34306/14964</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2019 Management Analysis Journal</dc:rights>
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