INCOME GROWTH, MANAGERIAL OWNERSHIP, COMPANY SIZE AND COMPANY EFFICIENCY ITS EFFECT ON COMPANY VALUE AND DIVIDEND POLICY Aldi Akbar & Kusnendi
Universitas Pendidikan Indonesia, Bandung, West Java, Indonesia
Abstract
This study aims to examine the effect of variable income growth, managerial ownership, efficiency and firm size on firm value and dividend policy on companies listed on the Indonesia stock exchange in 2014 - 2018. The samples taken are companies that are members of the LQ45 stock group based on considerations (1) liquidity and market capitalization, (2) companies routinely distribute dividends annually, (3) companies come from various industries. Data is obtained from the IDX page (www.idx.co.id) and the analysis technique used in this study is path analysis. The test results show that income growth has a negative effect on firm value and also on dividend policy. While managerial ownership, firm size, and firm efficiency do not affect firm value. The size and efficiency of the company have a positive effect on dividend policy. Managerial ownership and firm value do not affect dividend policy.
Keywords: dividend policy, company value, growth, managerial ownership
