Dividend Yield And Dividend Trap Of IDXHIDIV20
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Abstract
The main objective of this study is to determine the effect of DPR, DY, EPS, and stock volume on stock returns. In addition, this study also aims to prove whether the four independent variables that have been determined will cause a dividend trap in companies that routinely pay dividends over a period of three periods. The sample collection technique for this study used purposive sampling, the sample used was a stock index listed on the IDX (Indonesian Stock Exchange), namely IDXHIDIV20 (High Dividend Index 20). The research technique used is multiple linear regression using Robust Standard Error to avoid problems with the Heteroscedasticity Test. The results of this study are that the dividend yield variable has a significant negative effect on stock returns at IDXHIDIV20 so that the higher the dividend yield value, the higher the possibility of a dividend trap occurring. The dependent variable used uses two models, namely stock returns on the day of dividend distribution and stock returns on the day after dividend distribution. Both models are used to prove the dividend trap phenomenon.
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