Persamaan Struktural: Aktivisme Institusi, Kepemilikan Institusional dan Manajerial, Kebijakan Dividen dan Utang
The research tested other hypotheses by two-stage least squares test. The research results shows that institutional ownership has a significant affects on the dividend and negative significant affects on the debt policy. Further results, that institution activism has a significant affects on the debt policy and institutional ownership, and that managerial ownership negative significant affects on the institution activism. Other result, that relationship a substitute between the institutional and managerial ownership. On the contrary, result shows that institution activism does not have a significant affects on the dividend policy, and the managerial ownership do not have a significant affects on the dividend and debt policy. Finally, this study shows that dividend policy do not have a significant affects on the debt policy.
Keywords:Â Â Â agency problem, institutional activism, institutional and managerial ownerÂ¬ship, dividend and debt policy.
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JURNAL AKUNTANSI DAN AUDITING INDONESIA (JAAI)
ISSN 1410-2420 (print), 2528-6528 (online)
Published by Department of Accounting, Faculty of Economics, Universitas Islam Indonesia
Supported by IAI-KAPd (Ikatan Akuntan Indonesia - Kompartemen Akuntan Pendidik)
JAAI pada http://journal.uii.ac.id/index.php/JAAI/ terlisensi oleh Creative Commons Attribution 4.0 International License.