Authors : Hartanto; DR. Hakiman

Volume/Issue : Volume 9 - 2024, Issue 1 - January

Google Scholar : http://tinyurl.com/2s42byrf

Scribd : http://tinyurl.com/mnn7a4tf

DOI : https://doi.org/10.5281/zenodo.10608557

Abstract : This article investigates the effect of increasing sales and profits on the realization of dividend yields in Micro, Small, and Medium Enterprises (MSMEs) that receive funding through the Santara crowd funding platform. These factors are tested by considering financial reporting classification and the pre-post Covid- 19 timeline as moderating variables. MSMEs have an important role in the economy but often face obstacles in accessing capital. Securities Crowd funding (SCF) is an innovative solution, and Santara is the organizer of SCF in Indonesia. This empirical study includes an analysis of 44 crowd funding companies on Santara. The results of path analysis and moderation tests obtained significant findings regarding the influence of increasing sales and profits on the realization of dividend yield. Financial reporting classification and the COVID-19 timeline moderate the relationship between increased sales and realized dividend yield. Meanwhile, financial report classification moderates the relationship between increasing profits and realized dividend yield, and the COVID-19 timeline moderates the relationship between increasing profits and realized dividend yield.

Keywords : MSMEs; Securities Crowd Funding (SCF); Dividend Yield; Financial Reporting Classification; Covid- 19 Timeline.