Analisis Kepemilikan Pemerintah, Koneksi Politik dan Kepemilikan Institusional terhadap Kebijakan Pembayaran Dividen (Studi Pada Perusahaan Non Keuangan Yang Terdaftar Di Bursa Efek Indonesia (BEI) Tahun 2016-2020)

Pavita Bayu Permata Putri; Wisnu Mawardi

doi:10.29040/jap.v23i2.6466

Analisis Kepemilikan Pemerintah, Koneksi Politik dan Kepemilikan Institusional terhadap Kebijakan Pembayaran Dividen (Studi Pada Perusahaan Non Keuangan Yang Terdaftar Di Bursa Efek Indonesia (BEI) Tahun 2016-2020)

Pavita Bayu Permata Putri, Wisnu Mawardi

Abstract

Penelitian ini disusun dengan tujuan untuk menguji pengaruh kepemilikan pemerintah, koneksi politik dan kepemilikan institusional terhadap kebijakan pembayaran dividen. Variabel independen yang digunakan dalam penelitian ini yaitu koneksi politik, kepemilikan pemerintah, dan kepemilikan institusional. Variabel kontrol yaitu size dan profitabilitas. Variabel dependen yang digunakan dalam penelitian ini yaitu kebijakan pembayaran dividen yang diukur dengan dividend payout ratio (DPR). Populasi dari penelitian ini adalah perusahaan non keuangan yang membagi dividen secara kontinyu periode tahun 2016-2020, sampel ditentukan dengan metode purposive sampling dengan jumlah sampel sebanyak 79 perusahan, sehingga total riset yang diteliti dalam penelitian ini sebanyak 395 riset. Penelitian ini menggunakan data sekunder yaitu laporan keuangan perusahaan, kemudian data tersebut dianalisis dengan analisis regresi berganda yang diolah menggunakan SPSS 26. Dari hasil penelitian ditemukan bahwa kepemilikan pemerintah dan kepemilikan institusional berpengaruh positif signifikan terhadap kebijakan pembayaran dividen, sedangkan koneksi politik berpengaruh negatif signifikan terhadap kebijakan pembayaran dividen. Pengaruh variabel kontrol (Size dan Profitabilitas) berpengaruh positif signifikan terhadap kebijakan pembayaran dividen.

Keywords

koneksi politik, kepemilikan pemerintah, kepemilikan institusional, kebijakan pembayaran dividen

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DOI: http://dx.doi.org/10.29040/jap.v23i2.6466