Gusti Ayu Mahanavami


Penelitian ini bertujuan untuk menguji pengaruh aliran kas bebas terhadap biaya keagenan dan kebijakan dividen pada industri manufaktur Indonesia. Jumlah sampel data cross section penelitian ini adalah 106 perusahaan yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2020 dengan observasi 1.590 firm-year. Analisis regresi linier berganda dengan metode kuadrat terkecil biasa dan regresi logistik digunakan untuk menguji pengaruh arus kas bebas terhadap biaya keagenan dan kebijakan dividen. Hasil penelitian ini menunjukkan bahwa variabel arus kas bebas berpengaruh signifikan terhadap biaya keagenan dan kebijakan dividen. Prediksi kemungkinan perusahaan manufaktur di Indonesia membagikan arus kas bebas sebagai dividen mencapai 99,99%. Hasil penelitian ini mendukung hipotesis biaya keagenan arus kas bebas dan teori kandungan informasi.


Free Cash Flow, Agency Cost, Dividen

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