The Effect of Ownership Structure and Dividend Policy in Determining Company Performance with Intellectual Capital as Intervening Variable (Study on Government Banks Listed on Stock Exchanges in Indonesia 2010 – 2015)

This study intends to analyze and examine the effect of ownership structure, dividend policy on corporate financial performance with intellectual capital as intervening variable. By using panel data of four Government Banks listed on stock exchanges in Indonesia period 2010-2015, regression analysis using common effects model, fixed effect model and random effect model with chow test and hausman test as model selection test. The result of the research shows that the three independent variables (domestic stock ownership, foreign share ownership, dividend policy) either partially (t test) or simultaneously (f test) have significant effect to the financial performance of Government Banks. The effect of domestic institutions share ownership on Return on Assets is the indirect effect, otherwise the effect of foreign institutional share ownership and dividend policy on Return on Assets is the direct effect respectively.