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Author(s): Eliezer Benyamin Pascareno, Hotniar Siringoringo

Title: The effect of financial performance on company’s value moderated by dividend policy

Source: International Scientific Days 2016. The Agri-Food Value Chain: Challenges for Natural Resources Management and Society

Document Type: Scientific paper

ISBN: 978-80-552-1503-7


Publisher: Slovak University of Agriculture in Nitra

PY, pages: 2016, 370-377

Published on-line: 2016-06-24

Language: eng

Abstract: The objective of the study was to analyse the effect of financial performance on company’s value moderated by dividend policy. Research variables consist of financial performance, dividend policy, and company’s value. Financial performance measured by liquidity, leverage, and profitability. Dividend policy was represented by dividend pay-out ratio. And last variable. Company’s value was presented by Tobin’s Q. Data was purified from annual financial repot of 18 insurance and banking companies. Those 18 companies were listed in Indonesia Stock Exchange during the period 2010-2013. Data were analysed using moderating regression analysis. There was evidence that financial performance did not affect the company’s value. It was also showed that dividend policy did not moderate the effect of financial performance on company’s value.

Keywords: company’s value, company’s performance, dividend policy, insurance company, banking company, Indonesian Stock Exchange

JEL Classification: D53

Rights: Open Access :: Creative Commons Attribution 4.0 Licence
Creative Commons License
Toto dielo je publikované pod/This work is licensed under a Creative Commons Attribution 4.0 International License.