Does firm size can moderate the effect of dividend pay-out ratio and leverage on stock volatility?

This study aims to obtain empirical evidence regarding the effect of dividend pay-out ratio and leverage on stock volatility with firm size as a moderating variable. The theory used in this research is signal theory. takes population manufacturing companies listed IDX 2017-2021. By using purposive sampling method accordance specified criteria, researchers obtained 27 sample 135 observations. data analysis technique Moderated Regression Analysis (MRA). results are has negative volatility, no strengthens relationship does not moderate positive volatility.