Rahmat Setiawan and Nova Christiana and Sanju Kumar Singh (2019) Stock Liquidity, Financial Report Quality, Wedge, and The Propensity to Pay Dividend. Jurnal Manajemen Teori dan Terapan, 12 (3). pp. 239-259. ISSN 1979-3650, eISSN 2548-2149

	Text (Artikel) Rahmat Setiawan_Artikel10_Stock Liquidity.pdf Download (350kB)
	Text (Peer Review) Rahmat Setiawan_Peer Review 010.pdf Download (1MB)
	Text (Peer Review) Rahmat Setiawan_Peer Review_Baru12_101573.pdf Download (342kB)

Abstract

This research examined the effect of stock liquidity on the propensity to pay dividend for 254 Indonesian public listed firms during the period of l 2011 and 2015. Stock liquidity implies transparency level and serves as market monitor for management performance in using the cash flow. Furthermore, this research examines the impact of stock liquidity on dividend payment in the presence of agency conflicts using agency proxies, wedge and government ownership. This paper employed multivariate probit regression. The baseline model has controlled for time in-variant and industry sectors. Robustness checks are employed to present consistent result for other stock liquidity measures. The results confirm the predicted dividend model outcome and prove the contradiction in dividend signaling theory.

Actions (login required)

View Item