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Faktor-Faktor yang Mempengaruhi Kebijakan Deviden: Investigasi Pengaruh Teori Stakeholder

Author

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  • Atika Jauhari Hatta

Abstract

Some debates have been considerable around how dividend policy affects shareholder wealth. There are three contradictive theories; some researchers believe that dividends increase shareholder wealth while others argue that dividends are irrelevant, and the others believe that dividend decrease shareholder wealth. The objective of this paper is to investigate the relationship the dividend policy decisions and investments decisions of a firm. The theory has been proposed that can link the two decisions, called stakeholder theory. This theory views the firm as a nexus of contracts and includes investor and non-investor as firm’s stakeholders. The interest of non-investor stakeholder can influence financial decisions through implicit claims. Using net organizational capital (NOC) as a proxy for the level of non-investor stakeholder influences, this research found that such relationship does exist, even though the sign doesn’t consistent with the hypothesis.Keywords: Dividend policy, implicit claim, and Stakeholder theory.

Suggested Citation

  • Atika Jauhari Hatta, 2002. "Faktor-Faktor yang Mempengaruhi Kebijakan Deviden: Investigasi Pengaruh Teori Stakeholder," Jurnal Akuntansi dan Auditing Indonesia, Accounting Department, Faculty of Business and Economics, Universitas Islam Indonesia, vol. 6(2).
    • Handle: RePEc:uii:jaaife:v:6:y:2002:i:2:id:853
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    Cited by:

    1. Mursalim Mursalim, 2009. "Persamaan Struktural: Aktivisme Institusi, Kepemilikan Institusional Dan Manajerial, Kebijakan Dividen Dan Utang," Jurnal Akuntansi dan Auditing Indonesia, Accounting Department, Faculty of Business and Economics, Universitas Islam Indonesia, vol. 13(1), pages 43-59, JUNI.
    2. Hariyati & Waspodo Tjipto Subroto & Sofa Nur Ihtiari Wahyudi & Yatim Riyanto, 2017. "Influences of Intellectual Property and Capital to the Performance of the Corporate Image Award Winning Companies in Indonesia," International Journal of Economics and Financial Issues, Econjournals, vol. 7(4), pages 595-602.

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