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VOLUME IX Edisi 1 , April 2015
KEBIJAKAN DIVIDEN PADA PERUSAHAAN STABIL: BUKTI EMPIRIS DARI BURSA EFEK INDONESIA |
Fakultas Bisnis Universitas Kristen Duta Wacana |
This study aims to examine the effect of profitability, financial leverage, firm size, and distress risk towards the dividend payments of financially stable firms. The financial condition of the company is analyzed by the Altman Z-Score model. The classification result of revised Z score model shows that the company in Indonesia which pays dividends consistently over 5 years (2006-2010), the majority (57) categories of healthy or stable companies, while small portion (7) of the company in the category of gray area. This study concludes that the four hypotheses are supported. Profitability has a positive influence on the payment of dividends. Financial leverage has positive effect on the payment of dividends. Firm size has positive influence on the payment of dividends. The risk of distress has positive impact on the payment of dividends. |
Z-Score, Revised Z Score Model, Distress Risk , Dividend to Equity |
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