Hubungan kandungan informasi yang terdapat pada peristiwa dividen terhadap profitabilitas masa depan perusahaan-perusahaan yang terdaftar di Bursa Efek Jakarta

Ivandhari, Arliani, Prof. Dr. indra Wijaya Kusuma

2007 | Skripsi | S1 Accounting

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Many dividend theories imply that changes in dividends have information content about future earnings of the firm. This research investigates the relation betweert dividend changes and future profitability measured in terms of future earnings and future abnormal earnings. By regressing three measurements of earnings (earnings changes, earnings, abnormal earnings) and using 37 samples (222 firm-years) of firms at Jakarta Stock Exchange from 1999 to 2005, my finding is somewhat consistent with Doron Nissim and Amir Ziv (2001). I find that dividend changes provide information about the level of profitability in subsequent years, incremental to market and accounting data. This investigation also documents that dividend increase has stronger explanatory power in predicting profitability compared to dividend decrease.

Kata Kunci : information content, dividend changes, profitability