Pengujian Life Cycle Model of Dividends Sektor Perbankan

Muhamad Umar Mai

Abstract


This study examines the life cycle model of dividends (LCMD) of the banking sector on the Indonesia stock exchange (IDX) for the period 2005-2020, using secondary data analyzed by logistic regression. Results indicate that the dividend policy of banking sector on the IDX tends to follow LCMD. This is because, retained earnings to total equity, profitability and size have positive effect on the propensity to pay dividends (PPD), while growth has negative effect on PPD. In addition, capital adequacy ratio is an important factor in dividend policy of banking sector on the IDX.

Abstrak
Penelitian ini menguji life cycle model of dividends (LCMD) sektor bank di bursa efek Indonesia (BEI) periode 2005-2020, menggunakan data sekunder yang dianalisis dengan regresi logistik. Hasil mengindikasikan bahwa kebijakan dividen sektor bank di BEI cenderung mengikuti LCMD. Ini karena, retained earnings to total equity, profitability dan size berpengaruh positif terhadap propensity to pay dividends (PPD), sedangkan growth berpengaruh negatif terhadap PPD. Selain itu, capital adequacy ratio merupakan faktor penting kebijakan dividen sektor bank di BEI.


Keywords


Banking sector; Dividends policy; Indonesia stock exchange; Life Cycle Model

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DOI: http://dx.doi.org/10.33795/jraam.v6i1.002

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