Does CEO’s Hubris Affecting Dividends Payout?  

Oleh:

Abiprayu, Kris Brantas ; Wiratama, Bayu

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Jurnal Dinamika Manajemen vol. 7 no. 01 (2016), page 66-75.
Topik: Overconfidence; CEO; dividend; maturity; investment opportunity; BUMN
Fulltext: 5760-12390-1-SM_ros.pdf (353.49KB)

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The purpose of this research is to examine the effect of CEO’s Overconfidence (KDB) on non-financial firm’s dividend that listed in Indonesia Stock Exchange (IDX) from 2004 to 2013. It is being said that almost every person has overconfidence, similarly with a CEO of a company, particularly because of the scale of power that they hold. CEO with overconfidence has a ten-dency to lower their dividend payout because they are driven by their subjective consciousness of the possibility of getting an investment opportunity in the future. The samples of this study are 327 companies listed in Indonesia Stock Exchange (IDX). The model is using a logit re-gression. The result shows that company being lead by CEO with overconfidence will have a tendency to hold or reduce their dividend payout.

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