Hypothesis | Description | Results |
H1-1 | The relationship between Average VD and ROA | Negative Significant |
H1-2 | The relationship between Average VD and ROS | Negative Insignificant |
H1-3 | The relationship between Average VD and MCAP | Positive significant |
H1-4 | The relationship between Average VD and EPS | Negative Insignificant |
H1-4 | The relationship between Average VD and Tobin’s Q | Positive significant |