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Published: 2024-05-21

Dividend Policy as a Tool to Increase Firm Value

Faculty of Economics and Business, Universitas Batam
Faculty of Economics and Business, Universitas Malikussaleh
Faculty of Economics and Business, Universitas Batam
Dividend policy Firm value Investor sentiment Strategic financial management


This study delves into the crucial relationship between dividend policy and firm value, analyzing the intricate dynamics that influence investor sentiment and strategic financial management. Through a comprehensive analysis of empirical data and theoretical frameworks, the study examines the impact of dividend policy decisions on shareholder wealth and market perceptions. Key findings highlight the significance of aligning dividend policies with long-term financial objectives, optimizing payout ratios, and enhancing transparency and communication with investors. The study also explores the role of investor sentiment in shaping market perceptions and the strategic implications for firms in managing dividend policies amidst market uncertainties. Insights from this research provide actionable recommendations for firms and policymakers to optimize dividend policies, enhance shareholder value, and foster a conducive investment environment.



Penelitian ini menggali hubungan penting antara kebijakan dividen dan nilai perusahaan, menganalisis dinamika yang rumit yang memengaruhi sentimen investor dan manajemen keuangan strategis. Melalui analisis komprehensif data empiris dan kerangka teoritis, penelitian ini mengkaji dampak keputusan kebijakan dividen terhadap kekayaan pemegang saham dan persepsi pasar. Temuan utama menyoroti pentingnya menyelaraskan kebijakan dividen dengan tujuan keuangan jangka panjang, mengoptimalkan rasio pembayaran, dan meningkatkan transparansi dan komunikasi dengan investor. Penelitian ini juga mengeksplorasi peran sentimen investor dalam membentuk persepsi pasar dan implikasi strategis bagi perusahaan dalam mengelola kebijakan dividen di tengah ketidakpastian pasar. Temuan dari penelitian ini memberikan rekomendasi yang dapat dilaksanakan bagi perusahaan dan pembuat kebijakan untuk mengoptimalkan kebijakan dividen, meningkatkan nilai pemegang saham, dan menciptakan lingkungan investasi yang kondusif.

Kata kunci: Kebijakan dividen, Nilai perusahaan, Sentimen investor, Manajemen keuangan strategis


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How to Cite

Lubis , E., Khaddafi, M., & Satriawan, B. (2024). Dividend Policy as a Tool to Increase Firm Value. Business and Investment Review, 2(3), 20–27.