KEBIJAKAN DIVIDEN TUNAI: ANALISIS BERDASARKAN SIKLUS HIDUP PERUSAHAAN, ECONOMIC VALUE ADDED DAN KECUKUPAN KAS

Abstract

The consumer goods industry is an industry that fulfills the main needs of society. The high volume of production makes the company require large capital so it encourages investors to take part in industrial development in Indonesia. In distributing profits, especially dividends, the company has many considerations, especially in terms of the company's life cycle, economic value added, and cash adequacy.The data analysis method used in this study is binary logistic regression. The data sources used in this study are manufacturing companies in the consumer goods sector listed on the Indonesia Stock Exchange from 2016-2020 as many as 170 observations.The results of this study, companies that are in the growth and mature cycles have a probability of distributing cash dividends to their shareholders compared to those in the decline cycle. Then, the results of the study do not prove that there is a significant effect of economic value added on cash dividend policy. Cash adequacy is proven to moderate the effect of life cycle and economic value added on cash dividend policy.