BIAYA KEAGENAN DAN MEKANISME CORPORATE GOVERNANCE PADA RASIO PEMBAYARAN DIVIDEN

Henny Murtini

Abstract


Tujuan penelitian ini adalah untuk mengkaji tentang Dividend Payout Ratio (DPR). Data yang digunakan adalah data panel dimana data tersebut merupakan kombinasi antara data time series dan data cross section data. Metode estimasi yang digunakan adalah generalized least square (GLS) de-ngan poolled regression and fixed effect (covariance model). Berdasarkan restricted F test, diketahui bahwa fixed effect model adalah model yang paling baik untuk menjelaskan Dividend Payout Ratio. Hal ini berarti bahwa elemen perusahaan mempengaruhi model structure. Hasil dari penelitian ini mengindikasikan bahwa pengaruh mekanisme corporate governance and transaction cost variable on dividend payout ratio merupakan hipotesis yang sesuai dan agency cost variables tidak mendukung hipotesis.

 

This research investigate model of Dividend Payout Ratio (DPR). The data used are panel data, in which they are a combination of time series data and cross sectional data. The estimation method used is ge-neralized least square (GLS) with poolled regression and fixed effect (covariance model). Based on the restricted F test, it is known that fixed effect model is the best model to explain Dividend Payout Ratio. It means that element of company affects model structure. The findings of this study indicate that the effect of corporate governance mechanism and the transaction cost variable on the dividend payout ratio is the appropriate hypothesis, and the agency cost variables don`t support hypothesis.


Keywords


dividend payout ratio; corporate governance mechanism; panel data; fixed effect model

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DOI: https://doi.org/10.15294/jda.v3i2.1950

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