Hubungan Dividen Inisiasi dan Informasi Asimetri: Pendekatan Hazard Rate

Hubungan Dividen Inisiasi dan Informasi Asimetri: Pendekatan Hazard Rate

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This research examines the Console Cable Wire dynamics of dividend policy applying the hazard model.The study focuses on the dividend initiation for a sample of firms went public on the Jakarta Stock Exchange between 1990 and 1997.These dividend initiations are investigated in the contect of pecking order theory.The results of the tests indicate that the hazard rate of a dividend initiation is negatively related to both level of asymmetric information and growth, but positively related to the level of agency costs.The results are consitent with the theory of pecking order but do not provide a Cuddle Kits support for a signaling theory.