Proceedings of the Asia-Pacific Research in Social Sciences and Humanities Universitas Indonesia Conference (APRISH 2019)

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Informational Effect of Stock Liquidity on Dividend Payouts: Evidence from Indonesia, 2008-2017

Authors
Alya Faradisi, Maria Ulpah
Corresponding Author
Maria Ulpah
Available Online 31 May 2021.
DOI
10.2991/assehr.k.210531.082How to use a DOI?
Keywords
Stock liquidity, controlling shareholder, dividend payouts, informational effect, Indonesia
Abstract

This research investigates the informational effect of stock liquidity on dividend payouts in Indonesia from 2008 to 2017. Three dividend payout proxies are used: DVE (cash dividend scaled by earnings), DVC (cash dividend scaled by net operating cash flow), and DVP (the propensity for a dividend use dummy variable). Stock liquidity is measured using the Amihud Method. The results of this research indicate that a positive and significant relationship exists between stock liquidity and dividend payouts. This study used the generalized least square panel data method and logistic estimation method. Indications exist of an increase in the informational effect of stock liquidity on increasing dividend payouts. These results are consistent with the dynamic panel data estimation model.

Copyright
© 2021, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the Asia-Pacific Research in Social Sciences and Humanities Universitas Indonesia Conference (APRISH 2019)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
31 May 2021
ISBN
10.2991/assehr.k.210531.082
ISSN
2352-5398
DOI
10.2991/assehr.k.210531.082How to use a DOI?
Copyright
© 2021, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

risenwbib
TY  - CONF
AU  - Alya Faradisi
AU  - Maria Ulpah
PY  - 2021
DA  - 2021/05/31
TI  - Informational Effect of Stock Liquidity on Dividend Payouts: Evidence from Indonesia, 2008-2017
BT  - Proceedings of the Asia-Pacific Research in Social Sciences and Humanities Universitas Indonesia Conference (APRISH 2019)
PB  - Atlantis Press
SP  - 658
EP  - 665
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.210531.082
DO  - 10.2991/assehr.k.210531.082
ID  - Faradisi2021
ER  -