Analisis Persamaan Struktural: Aktivisme Institusi, Kepemilikan Institusional dan Manajerial, Kebijakan Dividen dan Utang Untuk Mengatasi Masalah Keagenan  

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Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Jurnal Akuntansi & Auditing Indonesia vol. 13 no. 1 (Jun. 2009), page 45-61.
Topik: Agency problem; Institutional activism; Institutional and managerial ownership; Dividend and debt policy.

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: AA70.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study investigated the simultaneaity of five financial variables that are hypothesized to agency problem. It builds a model showing that institution activism, institutional and managerial ownership, dividend and debt policy are determined simultaneously as each of the variable is hypothesized to decrease agency problem. Furthermore, the research is aimed at examining the effect of institution activism, ownership structure by institutional and managerial ownership on the financing decisions by dividend and debt policy. The research tested hypotheses by using Hausman's specification test and two-stage least squares test. Hypotheses testing was conducted by using research sample of 70 manufacture company the registered in the Indonesian Stock Exchange during the years of 2000-2006. The samples determined by using a purposive sampling methode. The research tested one hypotheses by Hausman's specification test and the research result shows that institution activism, institutional and managerial ownership, dividend and debt polcy are determined simultaneously to decrease agency problem. 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 polcy.

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