HERSUGONDO, Hersugondo (2024) Artikel Dr. HERSUGONDO, SE, MM: The Effect of ESG Pillar on Dividend Policy with ROA as Intervening Variable: Study in Malaysia Capital Market. Research Horizon, 4 (4). pp. 305-314.

Text (Artikel) The Effect of ESG Pillar on Dividend Policy withROA asIntervening Variable Study in Malaysia Capital Market.pdf Download (238kB)

Abstract

This study aims to find the impact of ESG Principles on Dividend Policy in
companies in Malaysia. Malaysia was determined to be the object of research because
Malaysia is one of the countries with the highest 10-year environmental change in
the Southeast Asian region with an index value of 10.30. The results obtained
indicate that companies in Malaysia have implemented the ESG Principles although
the detected influence is only limited to the governance pillar and environmental
pillar. The results also indicate that during the crisis during COVID-19. ROA has a
negative impact on DPR because companies still have to maintain their cash flow so
dividends cannot be distributed as in previous years. Positive leverage also indicates
that companies want to maintain investor confidence by continuing to pay dividends
during times of crisis.

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