Pengaruh Manajemen Laba terhadap Kebijakan Dividen di Indonesia

• Main Authors: Dananto Hartadi Putra, Nicholas Wangsadharma, Athalia Ariati Hidayat, Yang Elvi Adelina
• Format: Article
• Language: English
• Published: Fakultas Ekonomi dan Bisnis, UPN Veteran Jakarta 2020-09-01
• Series: Ekonomi dan Bisnis
• Subjects: divident pay out ratio; divident yield; manajemen laba
• Online Access: https://ejournal.upnvj.ac.id/index.php/ekobis/article/view/1430
• ISSN: 2356-0282; 2684-7582

Profit is one of the benchmarks for investors in making investment decisions, while dividend is one of the benefits sought by the investors. Therefore, it is assumed that the company's earnings management will be related to the company's dividend policy. This study was conducted to analyze the effect of earnings management on dividend policy on publicly listed companies in Indonesia. This study uses multiple linear regression testing method with panel data. In this study, earnings management uses the absolute value of discretionary accruals measured by three models; Modified Jones, Kasznik, and Kothari. Dividend policy is seen based on cash dividends distributed by dividend yield benchmarks and dividend payout ratios. This study uses sample of 828 data on non-financial multi-industry public companies listed on the Indonesia Stock Exchange in 2013-2018 obtained from Capital IQ. The results of this study indicate that earnings management has no influence on dividend policy, yet operating cash flow, company size, and company growth have a significant relationship to dividend policy. It can be said that the company’s dividend policy is not based on its earnings management, but the dividend policy depends on the company's operating cash flow, company size, and company growth.