PENGARUH TATA KELOLA TERHADAP PRAKTIK EKSPROPRIASI DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL PEMODERASI

Abstract

Abstract. The concentrated ownership structure that occurred in Indonesia led to the
agency conflicts between the controlling shareholder and the non-controlling
shareholder will lead expropriation. This study aims to examine the effect of
governance on expropriation practices. In addition, the study also aims to examine the
moderation role of dividend policy in strengthening the governance effect on
expropriation practices. The results show that governance negatively affects the
practice of expropriation and dividend policy can not strengthen the negative effect of
governance on the practice of expropriation. This study contributes to the theory of
agency type II which discusses conflicts between controlling and non-controlling
shareholders, which can be overcome by the use of corporate governance mechanisms

Keywords: governance, expropriation, dividend policy, related party transaction