ДИВІДЕНДНА ПОЛІТИКА ДЛЯ ПІДВИЩЕННЯ ВАРТОСТІ ФІРМИ, ПОМІРНОЇ ЗМІНИ ФІНАНСОВОЇ СТІЙКОСТІ
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Надіслано: 02-10-2024
Опубліковано: 31-12-2024
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Анотація
Багато галузей в Індонезії не діляться прибутком у формі дивідендів з інвесторами, що впливає на вартість компанії. Ця умова справді визначає позицію Інвестора при ухваленні рішення про інвестування в майбутнє як реакцію на дивідендну політику компанії. Дослідження спрямоване на аналіз дивідендної політики щодо поведінки інвесторів та її впливу на вартість фірми з фінансовою стійкістю як помірною змінною. У цьому дослідженні використано як об’єкти 360 компаній, зареєстрованих на IDX із 2018 по 2022 рік. Для тестування моделі застосовано Smart PLS. Це дослідження показує, що дивідендна політика впливає на вартість фірми, проте не впливає на поведінку інвесторів. Однак фінансова стійкість негативно впливає на дивідендну політику й вартість фірми. Крім того, фінансова стійкість не може пом'якшити співвідношення між дивідендною політикою й вартістю фірми. І навпаки: економічна стійкість може пом'якшувати поведінку інвесторів і впливати на вартість фірми. У статті наголошено, що менеджери, які розробляють дивідендну політику, повинні звертати увагу на поведінку інвесторів, оскільки це може бути позитивним сигналом для майбутньої вартості компанії.
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