IMPLEMENTASI KESEMPATAN INVESTASI, FREE CASH FLOW, UKURAN PERUSAHAAN, KEPEMILIKAN INSTITUSIONAL, COLLATERALIZABLE ASSETS DAN PENGARUHNYA TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN PELAYARAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2016-2019

Abstract

This study aims to analyze The Implementation of Investment Opportunities, Free Cash Flow, Company Size, Institutional Ownership, Collateralizable Assets And Their Effect on Dividend Policy on Shipping Companies Listed on the Indonesia Stock Exchange Period 2016-2019.
This research is a research using quantitative approach. The research population is all shipping companies listed on the Indonesia Stock Exchange for the period 2016-2019. Samples obtained based on data used multiple linear regression, but before hypothesis testing was first carried out a classic assumption test.
Based on the data analysis, Investment Opportunity has a positive effect on dividend policy with a significant value of 0.003. Free Cash Flow negatively affects the Dividend Policy with a significant value of 0.000. The Size of the Company has no effect on the Dividend Policy with a significant value of 0.785. Institutional Ownership has no effect on the Dividend Policy with a significant value of 0.313. Collateralizable Assets has a positive effect on the Dividend Policy with a significant value of 0.004.
Meanwhile, based on F test shows that variable Investment Opportunity, Free Cash Flow, Company Size, Institutional Ownership, Collateralizable Assets simultaneously affect the Dividend Policy because the signification value is less than 0.05 which is 0.000. The adjusted value of R2 is 0.776 so that the variable Investment Opportunity, Free Cash Flow, Company Size, Institutional Ownership, Collateralizable Assets are able to influence the Dividend Policy by 77.6% and the rest while the remaining 22.4% is explained by factors outside the research model.