Open AccessPengaruh Perubahan Dividen Terhadap Profitabilitas Perusahaan Pada Masa Yang Aakan Datang (Future Profitability)
Author(s) -
Agus Prasetyanta
Publication year - 2016
Publication title -
jurnal ekonomi dan bisnis
Language(s) - English
Resource type - Journals
eISSN - 2528-0147
pISSN - 1979-6471
DOI - 10.24914/jeb.v17i2.278
Subject(s) - earnings , profitability index , stock exchange , dividend , dividend yield , dividend policy , business , monetary economics , economics , financial system , accounting , finance
The research investigates the incremental information content of dividend changes about future profitability. We regress three of measurement of earnings (earnings level, earnings changes and abnormal earnings) to dividend changes and a number of control variables. By using 87 samples (420 firm years) of firm at Jakarta Stock Exchange over 1997-2003, We find that dividend changes provide information about the earnings insubsequent years, incremental to market and accounting data. The paper also documents that dividend changes are positively related to earnings changes for merely four year ahead. In detail examining, We find that dividend increase convey must new information about earnings changes and abnormal earnings for three year ahead than dividend decrease.