Kajian Tentang Dividend Puzzle dan Bukti Empiris

Dividend policy models that have until now mostly ignore the influence of socioeconomic and behavior toward the shareholders and managerial activities. If this effect is not included in future models, preference dividends of hard to explain, but hope irrational investors on dividends. Neglect of these motivations can limit its application to the determinants of company policies and activities. Dividend policy can not be separated from the motivation of individual managers to make actual dividend decision is strongly influenced by behavioral and socioeconomic factors. The combination of modern financial theory as well as social and psychological factors can provide a more complete explanation of dividend policy. Although it must be admitted that the business combination was not easy to do