Our study investigates four major q

Our study investigates four major questions:
1. What are the most important factors that managers perceive as influencing the dividend
policies of IDX-listed firms?
2. Do the overall perceptions about the factors influencing dividend policy differ between
managers of Indonesian firms and those of US or Canadian firms?
3. What views do managers of Indonesian firms have on dividend processes and patterns,
dividend policy and firm value, and residual dividend policy? And
4. What level of support do managers of Indonesian firms give to various explanations for
paying dividends?

This study is important because it updates and expands previous survey-based research on
dividends. Survey evidence on Indonesian dividend policy is limited and more than a decade old (see, for example, Kester et al., 1995-1996; Ang et al. 1997). These studies occurred before the Asian financial crisis of 1997-1998 and the 1998 coup deposing the long-time Indonesian ruler Suharto. Since this crisis the Indonesian government has initiated programs of structural reform to help remedy inadequacies of governance mechanisms, which were a major cause of the crisis. Sawicki (2009) shows a relationship between corporate governance and dividend policy in East Asian countries. She also finds that governance scores improved after the onset of the crisis and dividends fell dramatically. Further, our study examines issues not previously addressed in surveys involving managers of Indonesian firms. Our study uses the same survey instrument to compare the views of Indonesian managers with those of their US and Canadian counterparts. Given differences among these three countries, our survey results may differ from those reported in previous US and Canadian studies.

Results (English) 1:

Our study investigates four major questions:1. What are the most important factors that managers perceive u.s. influencing the dividendpolicies of the IDX-listed firms?2. Do the overall perceptions about the factors influencing dividend policy differ betweenmanagers of Indonesian firms and those of the US or Canadian firms?3. What views do managers of Indonesian firms have on dividend processes and patterns,dividend policy and firm value, and the residual dividend policy? And4. What level of support do managers of Indonesian firms to give various explanations forpaying dividends?This study is important because it updates and expands previous survey-based research ondividends. Survey evidence on Indonesian dividend policy is limited and more than a decade old (see, for example, Kester et al., 1995-1996; Ang et al. 1997). These studies occurred before the Asian financial crisis of 1997-1998 and the 1998 coup deposing the long-time Indonesian ruler Suharto. Since this crisis, the Indonesian government has from programs of structural reform to help remedy inadequacies of governance mechanisms, which were a major cause of the crisis. Sawicki (2009) shows a relationship between corporate governance and dividend policy in East Asian countries. She also finds that governance scores improved after the onset of the crisis and dividends fell dramatically. Further, our study examines issues not previously addressed in surveys involving managers of Indonesian firms. Our study uses the same survey instrument to compare the views of Indonesian managers with those of their U.S. and Canadian counterparts. Given differences among these three countries, our survey results may differ from those reported in previous US and Canadian studies.

Results (English) 2:

Our study investigates four major questions:
1. What are the most important factors that managers perceive as in fl uencing the dividend
policies of IDX-listed fi rms?
2. Do the overall perceptions about the factors in fl uencing dividend policy Differ between
managers of Indonesian fi rms and Reviews those of US or Canadian fi rms?
3. What views do managers of Indonesian fi rms have processes and patterns on the dividend,
dividend policy and fi rm value, and residual dividend policy? And
4. What level of support do managers of Indonesian fi rms to give various explanations for
paying dividends?

This study is important Because It updates and expands previous survey-based research on
dividends. Survey evidence on Indonesian dividend policy is limited and more than a decade old (see, for example, Kester et al., 1995-1996; Ang et al. 1997). Reviews These studies occurred before the Asian fi nancial crisis of 1997-1998 and the 1998 coup deposing the long-time ruler Suharto Indonesian. Since this crisis the Indonesian government has initiated programs of structural reform to help remedy inadequacies of governance mechanisms, the which were a major cause of the crisis. Sawicki (2009) shows a relationship between corporate governance and dividend policy in East Asian countries. Also she fi nds that governance scores improved after the onset of the crisis and dividends fell dramatically. Further, our study examines issues not addressed in surveys involving Previously managers of Indonesian fi rms. Our study uses the same survey instrument to compare the views of Indonesian managers with Reviews those of Reviews their US and Canadian counterparts. Given differences Among These three countries, our survey results may Differ from previous Reviews those Reported in US and Canadian studies.