Pengaruh free cash flow, institutional ownership, life cycle stage terhadap kebijakan deviden pada perusahaan manufaktur yang Terdaftar di bei

This study aims to determine the effect of free cash flow, institutional ownership and life cycle stage of dividend policy on manufacturing companies listed on the Indonesia Stock Exchange period 2014-2016. The dividend policy as the dependent variable is measured by the dividend payout ratio (DPR). The population of this research is as many as 45 manufacturing companies listed on the BEI in 2014-2016 selected using purposive sampling method. Methods of data analysis using multiple linear regression analysis. The results showed that institutional ownership and life cycle stage have an effect on dividend policy, but free cash flow has no effect on dividend policy. Keywords : Dividend Policy, Free Cash Flow, Institutional Ownership, Life Cycle Stage