{"id":"https://openalex.org/W3095625772","doi":"https://doi.org/10.13106/jafeb.2020.vol7.no10.035","title":"Effect of Liquidity, Profitability, Leverage, and Firm Size on Dividend Policy","display_name":"Effect of Liquidity, Profitability, Leverage, and Firm Size on Dividend Policy","publication_year":2020,"publication_date":"2020-10-15","ids":{"openalex":"https://openalex.org/W3095625772","doi":"https://doi.org/10.13106/jafeb.2020.vol7.no10.035","mag":"3095625772"},"language":"en","primary_location":{"id":"doi:10.13106/jafeb.2020.vol7.no10.035","doi":"https://doi.org/10.13106/jafeb.2020.vol7.no10.035","is_oa":true,"landing_page_url":"https://doi.org/10.13106/jafeb.2020.vol7.no10.035","pdf_url":"http://koreascience.or.kr:80/article/JAKO202029062616211.pdf","source":{"id":"https://openalex.org/S4210232956","display_name":"Journal of Asian Finance Economics and Business","issn_l":"2288-4637","issn":["2288-4637","2288-4645"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["poland-20"],"host_organization":"https://openalex.org/P4310319506","host_organization_name":"Korean Distribution Science Association","host_organization_lineage":["https://openalex.org/P4310319506"],"host_organization_lineage_names":["Korean Distribution Science Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Asian Finance, Economics and Business","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"http://koreascience.or.kr:80/article/JAKO202029062616211.pdf","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5108271563","display_name":"Jozef R. Pattiruhu","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I3133131564","display_name":"Universitas Pattimura","ror":"https://ror.org/0091hm651","country_code":"ID","type":"education","lineage":["https://openalex.org/I3133131564"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Jozef R. PATTIRUHU","raw_affiliation_strings":["Faculty of Economics , Department of Financial Management , Universitas Pattimura , Ambon , Indonesia","Postal Address: Ot Pattimaipauw Street , Wainitu Nusaniwe , Ambon City , Maluku , Indonesia","Faculty of Economics, Department of Financial Management, Universitas Pattimura, Ambon, Indonesia [Postal","Ot Pattimaipauw Street, Wainitu Nusaniwe, Ambon City, Maluku, Indonesia]"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Faculty of Economics , Department of Financial Management , Universitas Pattimura , Ambon , Indonesia","institution_ids":["https://openalex.org/I3133131564"]},{"raw_affiliation_string":"Postal Address: Ot Pattimaipauw Street , Wainitu Nusaniwe , Ambon City , Maluku , Indonesia","institution_ids":[]},{"raw_affiliation_string":"Faculty of Economics, Department of Financial Management, Universitas Pattimura, Ambon, Indonesia [Postal","institution_ids":["https://openalex.org/I3133131564"]},{"raw_affiliation_string":"Ot Pattimaipauw Street, Wainitu Nusaniwe, Ambon City, Maluku, Indonesia]","institution_ids":[]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5000295632","display_name":"Maartje Paais","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I4210146090","display_name":"Universitas Kristen Indonesia Maluku","ror":"https://ror.org/03rwzd843","country_code":"ID","type":"education","lineage":["https://openalex.org/I4210146090"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Maartje PAAIS","raw_affiliation_strings":["Associate Professor, Faculty of Economics, Department of Management, Universitas Kristen Indonesia Maluku, Ambon, Indonesia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Associate Professor, Faculty of Economics, Department of Management, Universitas Kristen Indonesia Maluku, Ambon, Indonesia","institution_ids":["https://openalex.org/I4210146090"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":500,"currency":"USD","value_usd":500},"apc_paid":{"value":500,"currency":"USD","value_usd":500},"fwci":45.0605,"has_fulltext":true,"cited_by_count":155,"citation_normalized_percentile":{"value":0.99910159,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":95,"max":100},"biblio":{"volume":"7","issue":"10","first_page":"35","last_page":"42"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9136000275611877,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9136000275611877,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.07970000058412552,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13957","display_name":"Corporate Governance and Financial Management","score":0.002099999925121665,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/dividend-policy","display_name":"dividend policy","score":1.0},{"id":"https://openalex.org/keywords/liquidity","display_name":"liquidity","score":0.8899999856948853},{"id":"https://openalex.org/keywords/profitability","display_name":"profitability","score":0.9879999756813049},{"id":"https://openalex.org/keywords/financial-leverage","display_name":"leverage","score":0.9760000109672546},{"id":"https://openalex.org/keywords/firm-size","display_name":"firm size","score":0.9980000257492065},{"id":"https://openalex.org/keywords/current-ratio","display_name":"current ratio","score":0.9829999804496765},{"id":"https://openalex.org/keywords/return-on-equity","display_name":"return on equity","score":0.9760000109672546},{"id":"https://openalex.org/keywords/return-on-assets","display_name":"return on assets","score":1.0},{"id":"https://openalex.org/keywords/debt-equity-ratio","display_name":"debt to equity ratio","score":0.968999981880188},{"id":"https://openalex.org/keywords/real-estate-companies","display_name":"real estate companies","score":0.9800000190734863},{"id":"https://openalex.org/keywords/indonesia-stock-exchange","display_name":"Indonesia Stock Exchange","score":0.9670000076293945}],"concepts":[{"id":"https://openalex.org/C59399099","wikidata":"https://www.wikidata.org/wiki/Q5284040","display_name":"Dividend policy","level":3,"score":0.7614520788192749},{"id":"https://openalex.org/C74153512","wikidata":"https://www.wikidata.org/wiki/Q167064","display_name":"Debt-to-equity ratio","level":4,"score":0.7093397378921509},{"id":"https://openalex.org/C155530773","wikidata":"https://www.wikidata.org/wiki/Q591174","display_name":"Return on equity","level":3,"score":0.6488354206085205},{"id":"https://openalex.org/C185669311","wikidata":"https://www.wikidata.org/wiki/Q1163221","display_name":"Return on assets","level":3,"score":0.6236472725868225},{"id":"https://openalex.org/C52272595","wikidata":"https://www.wikidata.org/wiki/Q2210989","display_name":"Current ratio","level":3,"score":0.6105765700340271},{"id":"https://openalex.org/C125889939","wikidata":"https://www.wikidata.org/wiki/Q2294672","display_name":"Dividend payout ratio","level":4,"score":0.5845590829849243},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.5771898031234741},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.5620293021202087},{"id":"https://openalex.org/C82279013","wikidata":"https://www.wikidata.org/wiki/Q684740","display_name":"Real estate","level":2,"score":0.5235744714736938},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.49021726846694946},{"id":"https://openalex.org/C184530449","wikidata":"https://www.wikidata.org/wiki/Q2706107","display_name":"Dividend yield","level":4,"score":0.4764699935913086},{"id":"https://openalex.org/C135665773","wikidata":"https://www.wikidata.org/wiki/Q2234049","display_name":"Debt ratio","level":3,"score":0.47219857573509216},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.4617052674293518},{"id":"https://openalex.org/C116168712","wikidata":"https://www.wikidata.org/wiki/Q181201","display_name":"Dividend","level":2,"score":0.447741836309433},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4016270935535431},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.37953829765319824},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.3393436670303345},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.19858896732330322},{"id":"https://openalex.org/C149923435","wikidata":"https://www.wikidata.org/wiki/Q37732","display_name":"Demography","level":1,"score":0.0},{"id":"https://openalex.org/C100363876","wikidata":"https://www.wikidata.org/wiki/Q690661","display_name":"Nonprobability sampling","level":3,"score":0.0},{"id":"https://openalex.org/C2908647359","wikidata":"https://www.wikidata.org/wiki/Q2625603","display_name":"Population","level":2,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.13106/jafeb.2020.vol7.no10.035","doi":"https://doi.org/10.13106/jafeb.2020.vol7.no10.035","is_oa":true,"landing_page_url":"https://doi.org/10.13106/jafeb.2020.vol7.no10.035","pdf_url":"http://koreascience.or.kr:80/article/JAKO202029062616211.pdf","source":{"id":"https://openalex.org/S4210232956","display_name":"Journal of Asian Finance Economics and Business","issn_l":"2288-4637","issn":["2288-4637","2288-4645"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["poland-20"],"host_organization":"https://openalex.org/P4310319506","host_organization_name":"Korean Distribution Science Association","host_organization_lineage":["https://openalex.org/P4310319506"],"host_organization_lineage_names":["Korean Distribution Science Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Asian Finance, Economics and Business","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.13106/jafeb.2020.vol7.no10.035","doi":"https://doi.org/10.13106/jafeb.2020.vol7.no10.035","is_oa":true,"landing_page_url":"https://doi.org/10.13106/jafeb.2020.vol7.no10.035","pdf_url":"http://koreascience.or.kr:80/article/JAKO202029062616211.pdf","source":{"id":"https://openalex.org/S4210232956","display_name":"Journal of Asian Finance Economics and Business","issn_l":"2288-4637","issn":["2288-4637","2288-4645"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["poland-20"],"host_organization":"https://openalex.org/P4310319506","host_organization_name":"Korean Distribution Science Association","host_organization_lineage":["https://openalex.org/P4310319506"],"host_organization_lineage_names":["Korean Distribution Science Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Asian Finance, Economics and Business","raw_type":"journal-article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals","score":0.44999998807907104}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3095625772.pdf","grobid_xml":"https://content.openalex.org/works/W3095625772.grobid-xml"},"referenced_works_count":28,"referenced_works":["https://openalex.org/W1236080179","https://openalex.org/W1573010155","https://openalex.org/W1997506932","https://openalex.org/W2020970716","https://openalex.org/W2046847749","https://openalex.org/W2051351862","https://openalex.org/W2075235902","https://openalex.org/W2081845577","https://openalex.org/W2084504178","https://openalex.org/W2133803277","https://openalex.org/W2142856961","https://openalex.org/W2149403925","https://openalex.org/W2183903868","https://openalex.org/W2565102570","https://openalex.org/W2781956785","https://openalex.org/W2800055778","https://openalex.org/W2908351336","https://openalex.org/W3021851600","https://openalex.org/W3036433976","https://openalex.org/W3043347114","https://openalex.org/W3121557858","https://openalex.org/W3122778786","https://openalex.org/W4230950244","https://openalex.org/W4235192227","https://openalex.org/W4240328156","https://openalex.org/W4244481839","https://openalex.org/W6822655933","https://openalex.org/W6826117837"],"related_works":["https://openalex.org/W4388912587","https://openalex.org/W4295922507","https://openalex.org/W3133882949","https://openalex.org/W3209334241","https://openalex.org/W4412514256","https://openalex.org/W2964531746","https://openalex.org/W4386266256","https://openalex.org/W4383429085","https://openalex.org/W2588029503","https://openalex.org/W4296111506"],"abstract_inverted_index":{"This":[0],"study":[1,168],"aims":[2],"to":[3,122,138],"investigate":[4],"the":[5,8,37,42,66,71,73,93,127,142,150,160,171],"relationship":[6],"between":[7],"variables":[9],"of":[10,70,75,159,166],"Current":[11],"Ratio":[12,19],"(CR),":[13,101],"Return-on-Equity":[14],"(ROE),":[15,103],"Return-on-Assets":[16],"(ROA),":[17,105],"Debt-to-Equity":[18],"(DER),":[20],"and":[21,32,61,68,109,112,144,174,180,189,194],"Firm":[22],"Size":[23],"(FS)":[24],"on":[25,36,65,92,183,197],"Dividend":[26],"Policy":[27],"(DP)":[28],"in":[29,41,51],"real":[30,48],"estate":[31,49],"property":[33],"companies":[34,50,77],"listed":[35],"Indonesia":[38,94],"Stock":[39,95],"Exchange":[40],"period":[43],"2016-2019,":[44],"looking":[45],"at":[46],"nine":[47,80],"Indonesia.":[52],"The":[53,82,116,164],"research":[54],"methodology":[55],"uses":[56],"an":[57],"explanatory":[58],"analysis":[59,118],"approach":[60],"linear":[62],"regression.":[63],"Based":[64],"eligibility":[67],"homogeneity":[69],"data,":[72],"number":[74],"sample":[76],"selected":[78],"was":[79],"companies.":[81],"company's":[83],"financial":[84,124],"statement":[85],"data":[86,90,117,125,130,133,151],"derived":[87],"from":[88,126],"primary":[89],"obtained":[91],"Exchange,":[96],"such":[97],"as":[98],"current":[99],"ratio":[100,107,129],"return-on-equity":[102],"return-on-assets":[104],"debt-to-equity":[106],"(DER)":[108],"firm":[110,175],"size":[111,176],"dividend":[113,184,198],"policy":[114],"variables.":[115],"procedure":[119],"is":[120,152,157],"first":[121],"transform":[123,136],"original":[128],"into":[131],"interval":[132],"and,":[134],"then,":[135],"it":[137],"ordinal":[139],"data.":[140],"Furthermore,":[141],"validity":[143],"reliability":[145],"process":[146],"are":[147],"ignored":[148],"because":[149],"primary.":[153],"Finally,":[154],"regression":[155],"testing":[156,162],"part":[158],"hypothesis":[161],"stage.":[163],"results":[165],"this":[167],"showed":[169],"that":[170],"CR,":[172],"ROE,":[173],"had":[177],"no":[178],"positive":[179,193],"significant":[181,195],"effect":[182],"policy.":[185,199],"In":[186],"contrast,":[187],"DER":[188],"ROA":[190],"have":[191],"a":[192],"impact":[196]},"counts_by_year":[{"year":2026,"cited_by_count":9},{"year":2025,"cited_by_count":18},{"year":2024,"cited_by_count":31},{"year":2023,"cited_by_count":36},{"year":2022,"cited_by_count":44},{"year":2021,"cited_by_count":14},{"year":2020,"cited_by_count":3}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2020-11-09T00:00:00"}
