THE INFLUENCE OF FAMILY CONTROL AND INDEPENDENT COMMISSIONERS ON DIVIDEND POLICY AND CAPITAL STRUCTURE IN COMPANIES LISTED ON THE BEI.

Title: THE INFLUENCE OF FAMILY CONTROL AND INDEPENDENT COMMISSIONERS ON DIVIDEND POLICY AND CAPITAL STRUCTURE IN COMPANIES LISTED ON THE BEI.

Author: LULUD WIJAYANTI

Item Type : Thesis (Thesis)

Affiliations: Master of Management Study Program, Faculty of Economics and Business, Universitas Airlangga , Surabaya, Indonesia

Publisher: Universitas Airlangga

Abstract

This research aims to determine the influence of family control and independent commissioners on dividend policy and capital structure. The second objective is to find out the role of the independent commissioner's moderating variable on the influence of family control on dividend policy and capital structure. This research uses panel data from 26 companies listed on the Indonesia Stock Exchange (BEI) in 2007-2011. The results of this research state that family control has a significant negative effect on dividend policy and a negative but not significant effect on capital structure, while independent commissioners have a significant positive effect on dividend policy and a significant negative effect on capital structure. The moderating variable independent commissioner weakens the negative influence of family control on dividend policy. On the other hand, the independent commissioner moderating variable strengthens the negative influence of family control on capital structure.

Keywords: family control, board of independents, dividend policy, and capital structure.

Sources: http://repository.unair.ac.id/37032/