Simultaneous Response of Dividend Policy and Value of Indonesia Manufacturing Companies An Approach of Vector Autoregression

Andysah Putera Utama Siahaan, , Rusiadi, Muhammad Dharma Tuah Putra Nasution and Solly Aryza
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Andysah Putera Utama Siahaan: Universitas Pembangunan Panca Budi

No 6fydz, INA-Rxiv from Center for Open Science

Abstract: This paper examines the long-term simultaneous response between dividend policy and corporate value. The main problem studied is that the dividend policy is responded very slowly to the final goal of corporate value. Analysis of Data was using Vector Autoregression (VAR). The result of the discussion concludes the effect of different simultaneous response every period between dividend policy with corporate value, short-term, medium-term, and long-term. The strongest response to dividend changes comes from free cash flow whereas the highest response to corporate value comes from market book value.

Date: 2018-07-15
New Economics Papers: this item is included in nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:osf:inarxi:6fydz

DOI: 10.31219/osf.io/6fydz

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