Lee, Gary and Feliana, Yie Ke and Subali, Stefanus Budy Widjaja (2024) Do Ownership of Companies Effect to Financing and Dividend Policy? Evidence from Indonesia Listed Non-Financial Industry Companies. In: The 21st INSYMA (International Symposium on Management), 15-16 Mei 2024, Universitas Surabaya, Surabaya. (Submitted)
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Abstract
This study aims to determine the effect of ownership structure on financing and dividend policy. The ownership includes institutional ownership, managerial ownership, and concentration of ownership. Based on sample of 1.098 firm-years non-financial companies, the regression analysis shows that the higher the control by institutional owners, the lower company dividend rate are. However, managerial ownership does not affect the dividend and financing decision. On the other hand, concentrated ownership in a company increases company dividend rate and debt-financing. The results are robust whether the type of ownership and concentration ownership are test separately or simultaneously.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Uncontrolled Keywords: | Institutional Ownership, Managerial Ownership, Concentrated Ownership, Financing Policy, Dividend Policy |
| Subjects: | H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance |
| Divisions: | Faculty of Business and Economic > Department of Accounting |
| Depositing User: | Yie Ke Feliana 3193 |
| Date Deposited: | 13 May 2024 08:40 |
| Last Modified: | 13 May 2024 08:40 |
| URI: | http://repository.ubaya.ac.id/id/eprint/46347 |
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