Family Ownership Concentration and Debt in Dividends Policies

This study aims to examine whether or not family control benefiting the internal and external governance mechanism mitigate agency problems affecting dividends in a capital market environment improve investor protection such as Indonesia. The quantitative analysis model was used test hypotheses based on panel data of 58 firms listed from 2012 2019, random effect technique (pooled EGLS). findings indicate that (family ownership board representation) are irrelevant dividend policy. However, (debt) negatively affects dividends. means debt plays significant role influencing policies. In addition, it provides issue institutional setting, when legal for minority shareholders is improving, families become less effective monitor firms.