PENGARUH KEBIJAKAN DIVIDEN TERHADAP VOLATILITAS HARGA SAHAM PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA Abstraksi / Abstracts:
This study explores whether there is a significant effect of dividend policy on stock price volatility in the companies listed in Indonesia Stock Exchange (IDX) in the period 2008 to 2013. The dividend policy is measured by the dividend payout ratio as independent variables. Control variables consist of earnings volatility, leverage, size, and growth. Dependent variable is the volatility of the stock price. The sample in this study consisted of 44 companies listed on the stock exchange Indonesia obtained from the official website of the Indonesia Stock Exchange (www.idx.co.id) and annual financial statements. The sampling method used in this research is purposive sampling and data analysis methods used in testing the hypothesis is multiple linear regression analysis. Hypothesis testing results show that there is influence between earnings volatility and the size of the stock price volatility. Earnings volatility has a positive and significant effect on stock price volatility and size has a negative and significant impact on stock price volatility, whereas the variable dividend payout ratio, leverage and growth have no significant effect on stock price volatility. Contribution of this research can help managers and investors to make the right decisions in the companies listed in Indonesia Stock Exchange.
Kata Kunci / Keywords:
dividend payout ratio, earning volatility, growth, leverage, size, stock price volatility.
FullText:
FullText