FAMILY CONTROL, INSTITUTIONAL OWNERSHIP, AND DIVIDEND POLICY OF MANUFACTURING COMPANIES LISTED IN INDONESIA STOCK EXCHANGE

Authors

  • Muhammad Madyan Fakultas Ekonomi dan Bisnis Universitas Airlangga Surabaya
  • Harlina Meidiaswati Fakultas Ekonomi Universitas Kartini Surabaya
  • Nugroho Sasikirono Fakultas Ekonomi dan Bisnis Universitas Airlangga Surabaya http://orcid.org/0000-0002-9962-1207
  • Muhammad Hadyan Herlambang Fakultas Ekonomi dan Bisnis Universitas Airlangga Surabaya

DOI:

https://doi.org/10.22219/jrak.v9i1.8293

Keywords:

dividend payout ratio, family ownership, institutional ownership

Abstract

This study is conducted to examine the effect of family share ownership on the dividend policy of manufacturing companies in the Indonesia Stock Exchange (IDX). In this study, we also examine the moderating effect of institutional ownership on the relationship between family ownership and dividend policy. The number of observations 137 firm-years, consisting of family companies in the manufacturing sector listed on the IDX in the period 2013-2016. The test results show that family ownership has a positive effect on the dividend payout ratio. Research also shows that institutional ownership weakens the relationship between family ownership and dividend payout ratio.

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Published

2019-04-26

Issue

Vol. 9 No. 1: Jurnal Reviu Akuntansi dan Keuangan

Section

Articles

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