PENGARUH KEBIJAKAN DEVIDEN TERHADAP KINERJA PERUSAHAAN PERTAMBANGAN: CORPORATE GOVERNANCE SEBAGAI VARIABEL PEMODERASI

Abstrak

Abstrak
Mining industry is an important industry for central government as sources of fund to
finance the country development. Therefore, the performance of companies in this
industry has been being an interest of academics and pratitioners. However, less
attention has been given on the role of corporate governance in moderating the
relationship between dividend policy and performance. with uniqueness of Indonesia
corporate governance system, this study will enrich the dividend policy and corporate
governance literatures. This study aims to investigate the corporate governance role in
moderating the relationship between dividend policy and performance. Besides, this study
also look atthe effect of dividend policy andperformance. with final sample of 21
companies for 3 years, we use the moderated regression analysis (MRA). Before
regressin run, we conduct several analysis, such as normality. The means score of each
variabel (ROA, DPR, PO, CA, and CS) shows that 4.77%, 32%, 29.6%, 23 years, and Rp.
13,6 T. The first hypothesis is accepted with positive direction. However, the effect of
corporate governance on performance is not significant due to the higher significant
value. therefore, the second hypothesis is rejected. However, the third hypothesis is
accepted at 10%. The interaction of dividend policy and corprote governance and its
effect on performance is explained by the agency theory. Practically, the companies must
implement the corporate governance effectively.
Keyword: Dividend Policy, Corporate governance and Companies performance.