Direksi dan Dewan Komisaris: Pengaruh Dewan Wanita terhadap Kebijakan Dividen di Indonesia

Eldinar Isty Fauziah, Agung Nur Probohudono

Abstract


Some of institutional specificities of emerging economies is market uncertainty may increase agency problems that raise doubts about future cash flows such as dividend payments. This research aim to analyze the impact of board gender diversity on dividend payments in Indonesia. This research using the dataset of listed firms from Indonesia Stock Exchange over the period 2013-2016. This research is a quantitative research with purposive sampling method. The dividend payment was measured with Dividend Payout Ratio (DIVPR). The evidence indicating that women directors is negatively related to dividend payment, while women commissioners has positive impact. Moreover, we find that women independent directors and women independent commissioners does not have an effect on dividend payments. The sample in this study is limited because the payment of dividends is not an obligation and women are still a minority on board.

Keywords: Dividend Payment, Board Gender Diversity, Agency Theory

Beberapa kekhususan institusi negara berkembang adalah ketidakpastian pasar yang dapat meningkatkan masalah keagenan sehingga timbul keraguan tentang arus kas masa depan seperti pembayaran dividen. Penelitian ini bertujuan untuk menganalisis pengaruh keragaman gender terhadap pembayaran dividen di Indonesia. Penelitian ini menggunakan data perusahaan yang terdaftar dari Bursa Efek Indonesia selama periode 2013-2016. Penelitian ini merupakan penelitian kuantitatif dengan metode purposive sampling. Pembayaran dividen diukur dengan Dividend Payout Ratio (DIVPR). Bukti menunjukkan bahwa direktur wanita berpengaruh negatif terhadap pembayaran dividen, sementara komisaris wanita memiliki pengaruh positif. Selain itu, direktur independen wanita dan komisaris independen wanita tidak berpengaruh pada pembayaran dividen. Sampel dalam penelitian ini terbatas karena pembayaran dividen bukanlah suatu keharusan dan wanita masih merupakan minoritas di jajaran dewan.

Kata kunci: Pembayaran Dividen, Keanekaragaman Gender, Teori Agensi

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DOI: http://dx.doi.org/10.20961/jab.v18i1.267

Jurnal Akuntansi dan Bisnis (JAB)
ISSN 1412-0852 (print), 2580-5444 (online)
Published by Accounting Study Program, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia


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