ANALISIS PENGARUH EKSPEKTASI PENDAPATAN TERHADAP PERUBAHAN DEVIDEN YANG DIBAYARKAN

Gomgom Sumpono Sinaga (pembimbing: Dr. Eduardus TandeWin, MBA.), Dr. Eduardus TandeWin, MBA.

2000 | Skripsi | S1 Management

In a process of formulating dividend policy, both management and investor are using dividend as an information device. Management are concerning about how dividend convey and reflect the information about firm's business prospect (expected earning) in the future. So does investors, are concerning about does dividend can use as a predictor (signal) about business prospect and the risk level of firm.

This research has directed to answer does expected earnings has taken to account in a process of formulating dividend? In addition, does the need of financing new investment effects firm's dividend yield? The result can be describe as follows:

- There is no evidence supporting that expected earnings have effected firm's dividend yield especially in Indonesia.

- Indonesian firm's does not taking to account the need of financing new investment in formulating dividend policy (dividend yield). In fact, firms that have highest growth level also pays higher dividend than firms do with lower level of growth.

Those are this research's findings, and still as Fischer Blacks said dividend policy remains like pu77Ie that none of researcher has unanimous evidence to support certain proposition.

Kata Kunci : ekspektasi pendapatan, perubahan deviden