Testing Theory of Dividend Policy: Evidence in the Realestate Sector in Indonesia Imas Purnamasari, Nugraha
Faculty of Economic and Business Education
Universitas Pendidikan Indonesia
imaspurnamasari[at]upi.edu
Abstract
The aim of this research is to test the irrelevant theory and relevant theories of the dividend policy. This research is conducted on real estate sector from period 2012-2015 to get 168 observation data. Variable of research include 1) Independent variable that is financial performance of company which proxy by Profitability, 2) Dependent variable that is Dividend Policy which proxy Dividend Payout Ratio, 3) Moderation variable that is firm size proxy by total assets. The results of the study found that in Indonesia the real estate sector of dividend policy based on irrelevancy theory
