LITERATURE REVIEW & SITASI DENGAN MENDELEY

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Operasional
No. Penulis (Tahun) Judul Variabel (Indikator) Hasil Sumber
Variabel
1. Dimitrios V. Earnings - Returns Relation in - Dependent Rumus atau Firm-size is a strong Managerial
Kousenidis Greece: Some Variable (Y): Indikator factor in explaining the Finance
(2005) Evidence on the Size Effect Stock returns returns/earnings
and on the Life-Cycle (RTNi) relation.
Hypothesis - Independent
Variable (X):
Earning Per
Share (EPS)
2 -
Richard A. DeFusco An empirical analysis of the - (Y) DIVt21 For the average firm in Managerial
( dynamic relation among - investment, the sample, Miller and Finance
2013) investment, earnings and earnings (X1) 12%DINVt21 Modigliani dividend
dynamic relation among - policy irrelevance is
investment, earnings and - Dividends not supported, even in
dividends (X2) the long run; the shocks
to dividends do have
long-run consequences
for
investment and vice
versa. Dividend
changes are an
ineffective signal of
future earnings in both
the
short and long-term.
The cost of an
 increased dividend is
on average an
immediate decrease of
$3 in
investent
for every dollar
increase in dividends
and the effect is
persistent up to six
years after the
increase in dividends.

(Kousenidis, 2005) Melakukan penelitian tentang Earnings - Returns Relation in Greece: Some Evidence on the Size Effect and on the Life-Cycle
Hypothesis. Variabel penelitian yang digunakan adalah Stock returns (RTNi) sebagai variabel dependen dan Earning Per Share (EPS) sebagai
variabel independen. Hasil penelitiannya menunjukkan bahwa laba (earning) yang diproxy dengan EPS berpengaruh terhadap return saham.
Peneitian sejenis juga dilakukan oleh Richar dengan judul. Variabel digunakan adalah.. hasil penelitian menjunkakan
.(A. DeFusco, M. Dunham, & Geppert, 2014)

DAFTAR PUSTAKA
A. DeFusco, R., M. Dunham, L., & Geppert, J. (2014). An empirical analysis of the dynamic relation among investment, earnings and dividends.
Managerial Finance, 40(2), 118136. http://doi.org/10.1108/MF-04-2013-0090
Kousenidis, D. V. (2005). Earnings returns relation in Greece: some evidence on the size effect and on the life-cycle hypothesis. Managerial
Finance, 31(2), 2454. http://doi.org/10.1108/03074350510769488