Ketimpangan Kebijakan Dividen Tunai Dan Perilaku Investor Saham Di Bursa Efek Indonesia

  • Yulian Ade Chandra STIE Widya Gama Lumajang
Keywords: Ketimpangan, Dividen, Investor, Literatur

Abstract

Dividends are one of the things that make investors interested in investing in the shares of a company. There are several questions that arise in the community, namely why not all companies that earn regular profits are willing to pay dividends in cash, at least once after several periods or several years. The next question is why companies that have never distributed dividends in a long time but their shares are still in demand by investors. This paper was created to answer these two questions using literature review and reasoning on existing phenomena. The alternative answer to the first question is based on a study of several theories and several previous studies, the authors conclude that companies that generate net income regularly but do not distribute dividends are due to other factors that influence the decision of the majority of shareholders to distribute dividends. There are factors that are deemed to still do not meet the criteria for making a decision to pay dividends. These factors include Price Earning Ratio (PER) which is too high, Current Ratio is too low, agency costs are too high, Debt To Equity Ratio (DER) is too high, profits are not stable, and investment opportunities are low. According to the authors, the answer to the second question based on the study is the lack of public understanding, especially public investors, of the importance of dividends.

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Published
2021-09-19