PENGARUH KEBIJAKAN PENDANAAN DAN KEBIJAKAN DIVIDEN TERHADAP KEPUTUSAN INVESTASI DENGAN KUALITAS PELAPORAN KEUANGAN SEBAGAI VARIABEL MODERASI (Studi Empiris pada Perusahaan yang Terdaftar di Bursa Efek Indonesia)
| Main Author: | Zakiya Tunnida, Ratu |
|---|---|
| Format: | Thesis NonPeerReviewed Book |
| Bahasa: | ind |
| Terbitan: |
, 2015
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| Subjects: | |
| Online Access: |
https://eprints.untirta.ac.id/13720/1/PENGARUH%20KEBIJAKAN%20PENDANAAN%20DAN%20KEBIJAKAN%20DIVIDEN%20TERHADAP%20KEPUTUSAN%20INVESTASI%20DENGAN%20KUALITAS%20P.pdf https://eprints.untirta.ac.id/13720/ https://feb.untirta.ac.id |
Daftar Isi:
- The purpose of this study is to get the evidence empirically and to find the clarity of the influence of independent variables which consist the ratio of total debt toward equity ratio (DER) which represents funding policy and the effect of dividend policy on investment decisions. And then, this study was to determine whether high-quality financial reporting significantly mitigates the negative effect of dividends on investments. Where in imperfect markets, external funding constraints that stem from information asymmetry can force firms to forgo valuable investment projects in order to pay dividends. This study use size and leverage of firms as a controls variable. The samples are Companies listed in Stock Exchange for a period of 2011-2013. Samples were collected using purposive sampling method and obtained 174 observations. The research method of this study is multiple regression analysis with pure moderator. The results show the funding policy have no significant influence on the decision of making an investment and the dividend policy have significant negative influence on investment decisions. Furthermore, these results highlight the important role of financial reporting quality in mitigating the conflict between firms’ investment and dividend decisions and thereby reducing the likelihood that firms forgo valuable investment projects in order to pay dividends.