Irawan, Dedi and Mahatma, Kufepaksi and Sri Hasnawati, Sri (2023) Dividend Policy By Using Life Cycle Approach to Public Companies in Indonesia. Business, Management and Economics Engineering, 21 (1). pp. 69-84. ISSN 2669-2481


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This study examined the effect of life cycle stages on dividend policy with life cycle theory approach. How companies determine dividend policy generally refer to the company life cycle theory. Dividend policy in the context of the company life cycle is an evolution of the trade-off theory. The stages of the company life cycle used in this research were pioneering, early expansion, late expansion, stabilization, and decline. This study used 126 non-financial companies on the Indonesia Stock Exchange which have complete data for the period 2011-2019. Data analysis in this study was carried out by using multiple linear regression method. The results showed that the pioneering and early expansion stages had significant negative effect on dividend policy, the decline stage had significant positive effect on dividend policy, while late expansion and stabilization stages had no significant effect on dividend policy.

Item Type: Article
Subjects: H Social Sciences > HG Finance
Depositing User: MAHATMA KU
Date Deposited: 20 Jan 2023 02:00
Last Modified: 20 Jan 2023 02:00

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