ANALISIS KEBIJAKAN DIVIDEN PADA PERUSAHAAN-PERUSAHAAN YANG LISTING DI BURSA EFEK JAKARTA

Abstract

In this paper Lintner’s lagged partial adjustment model is applied to a Jakarta Stock Exchange data set over period 2000-2002 and the result compared to empirical results reported in the literature for Singapore and Canada. It is found that, although the estimated speed adjustment is broadly higher to that reported in Singapore and Canada, but the estimated target payout ratio is much smaller. Other finding of this research is: the speed adjustment of higher risk company is is more quickly, and target payout ratio is much higher.