Jaja Suteja, JS (2016) MANAGERIAL OWNERSHIP, DEBT POLICY, AND DIVIDEND POLICY: A TEST ON THEORY OF AGENCY. MANAGERIAL OWNERSHIP, DEBT POLICY, AND DIVIDEND POLICY: A TEST ON THEORY OF AGENCY, 13 (1). ISSN 0972-9380
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Abstract
The problem investigated in this research is the existence (orin-existence) of interdependence among managerial stock ownership, debt policy and dividend policy in testing agency theory. This research is primarily aimed at knowing how is the influence and relation among MOWN, DEBT and DIV. This research uses sample of manufacturing companies listed in Indonesia Stock Exchange in 2005-2007. Purposive sampling method is used to determine the research sample, 33 companies were taken as sample in this research. Equation model used in this research is simultaneous equation, therefore the analysis tool used is 2SLS (Two Stage Least Square). According to the test of 2SLS, the following results are obtained: (1) Debt empiricallyhas influence and negative relationship with MOWN; (2) MOWNempirically has influence and negative relationship with DEBT; (3) DIV empirically has influence and relationship with MOWN; (4) MOWN empirically has influence and relationship with DIV; (5) DIVempirically has no influence yet has positive relationship with DEBT; (6) DEBT empirically has no influence yet has positive relationship with DIV. Keywords: managerial ownership, debt policy, dividend policy, two stage least square.
| Item Type: | Article |
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| Subjects: | JOURNAL |
| Depositing User: | Mr fahmi aldi |
| Date Deposited: | 16 Aug 2018 03:55 |
| Last Modified: | 16 Aug 2018 03:55 |
| URI: | http://repository.unpas.ac.id/id/eprint/35482 |
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