PENGARUH KEBIJAKAN DEVIDEN TERHADAP KINERJA PERUSAHAAN PERTAMBANGAN: CORPORATE GOVERNANCE SEBAGAI VARIABEL PEMODERASI
AbstrakMining industry is an important industry for central government as sources of fund tofinance the country development. Therefore, the performance of companies in thisindustry has been being an interest of academics and pratitioners. However, lessattention has been given on the role of corporate governance in moderating therelationship between dividend policy and performance. with uniqueness of Indonesiacorporate governance system, this study will enrich the dividend policy and corporategovernance literatures. This study aims to investigate the corporate governance role inmoderating the relationship between dividend policy and performance. Besides, this studyalso look atthe effect of dividend policy andperformance. with final sample of 21companies for 3 years, we use the moderated regression analysis (MRA). Beforeregressin run, we conduct several analysis, such as normality. The means score of eachvariabel (ROA, DPR, PO, CA, and CS) shows that 4.77%, 32%, 29.6%, 23 years, and Rp.13,6 T. The first hypothesis is accepted with positive direction. However, the effect ofcorporate governance on performance is not significant due to the higher significantvalue. therefore, the second hypothesis is rejected. However, the third hypothesis isaccepted at 10%. The interaction of dividend policy and corprote governance and itseffect on performance is explained by the agency theory. Practically, the companies mustimplement the corporate governance effectively.Keyword: Dividend Policy, Corporate governance and Companies performance.