Analisis Persamaan Simultan Insider Ownership, Utang dan Kebijakan Deviden Beserta Faktor-Faktor yang mempengaruhinya.
Main Article Content
Abstract
This study excamined the simultaneous between debt, dividend and insider ownership with the factors that have influence. This reaserch facused on non financial companies which is register in Indonesia Derivative Exchange (BEI), for 2002-2006, it report the financial data complately and publish on Indonesian Capital Market Directory (ICMD). Sample taking use purposive sampling method and bring 76 compaies as the result.
This study use Two Stage Square (2SLS), because the identification of simultaneous equation must fulfill just identified criteria. The exogeneous variables that use in this study are debt, dividend and insider ownership. The endogenous variables that use in this study are business risk, profitability, investment, fixed assets, growth and size of the firm.
The result of reasearch shows that on debt equastion : dividend, insider ownership, risk, profitability and fixed asset have sigificant influence to debt. On dividend equation: debt, insider ownership, risk, profitability, investment and growth have significant influence to devidend. On insider ownership equastion debt, dividend, risk, and size have significant influence to insider ownership.Article Details
License
You are free to:
- Share — copy and redistribute the material in any medium or format
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
Under the following terms:
- Attribution — You must give appropriate credit, provide a link to the license, and indicate the changes made. This should be done in any reasonable manner, but not in any way that suggests the licensor endorses you or your usage.
- ShareAlike — When you remix, transform, or build upon the material, the contributions must be distributed under the same license as the original.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.