PENGARUH INSIDER OWNERSHIP, STRUKTUR MODAL, DAN PERTUMBUHAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN PERUSAHAAN SYARIAH YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

The aim of this study is to analyze the impact of insider ownership, capital structure and company growth on dividend policy of listed companies in Indonesia Stock Exchange (IDX). Population of this research is all companies listed in IDX that have shariah securities in the period of 2007 to 2009.  Based on purposive sampling, 84 companies-years were selected. To answer the research questions, the multiple regressions were used. This study showed that insider ownership has an insignificant effect on dividend policy; capital structure significantly and negatively influences dividend policy and company growth significantly and negatively affects dividend policy of shariah securities that listed in IDX.

Keyword: Shariah securities, insider ownership, capital structure, company  growth, and dividend policy