Proporsi Kebijakan Dividen Sektor Non-Keuangan

Menik Indrati, Raden Dhava Dito Pangestu

Abstract


Penelitian ini dilakukan guna menganalisa pengaruh Pertumbuhan Perusahaan, Profitabilitas, Likuiditas, dan Kepemilikan Institusional terhadap Kebijakan dividen. Variabel independen yang digunakan terdiri dari variabel Pertumbuhan Perusahaan diukur menggunakan Asset Growth (AG), variabel Profitabilitas diukur menggunakan Return On Equity (ROE), variabel Likuiditas yang diukur menggunakan Curren Ratio (CR), dan Kepemilikan Institusional diukur menggunakan Institutional (INST), serta satu variabel dependen yaitu Kebijakan Dividen diukur menggunakan Dividend Payout Ratio (DPR). Terdapat 61 perusahaan yang memenuhi kriteria dari total observasi sebanyak 104 perusahaan dengan objek penelitian paida perusahaan sektor industri non-keuangan yang tercatat di Bursa Efek Indonesia (BEI) selama tahun 2019-2020 dan menggunakan teknik purposive sampling. Pengujian data yang digunakan terdiri dari analisis regiresi berganda dengan menggunakan aplikasi Statistical Program for Social Science (SPSS). Uji hipotesis menggunakan uji statistik F (simultan), uji statistik T (parsial), dan uji regresi linier bergandal. Penelitian ini menunjukan hasil berupa variabel Pertumbuhan perusahaan berpengaruh negatif terhadap Kebijakan dividen, Variabel Profitabilitas berpengaruh positif terhadap Kebijakan dividen, Variabel Likuiditas berpengaruh positif terhadap Kebijakan Dividen, dan Variabel Kepemilikan Institusional berpengaruh positif terhadap Kebijakan dividen


Full Text:

PDF

References


Azmal, R., Negoro, D. A., Syah, T., Y., R. (2019). The Influence Cash Position Analysis over Debt to Equity Ratio, Return On Equity, And Inventory Turnover on Dividend Payout Ratio: Consumer Goods Companies in Indonesia Stock Exchange 2012-2017. Journal of Multidisciplinary Academic. 3(4), 76-81.

Balqis, L., Sembiring, S., & Safriandi, F. (2021). The Study of Company Growth on Dividend Policy in Real Estate Companies Listed on the Indonesia Stock Exchange (IDX) 2017-2019. Journal Bonanza. 1(2). 58-62.

Banani, A., Apriyanti, E., & Sulistyandari. (2019). Analysis of the Effect of Liquidity, Profitability, Leverage, Company Size and Company Growth on Dividend Policy (Study on Manufacturing Companies Listed on the Indonesia Stock Exchange 2013 - 2017). Journal And Proceeding FEB UNSOED. 9(1), 205–214.

Bertuah, E., Baherans, D. M., Siskawati, S. A. D., & Winarso, E. (2021) Determining factors of dividend policy in indonesia. Review of International Geographical Education. 11(6), 1194-1209.

Budagaga, A., R. (2020). Determinants of Banks’ dividend payment decisions: evidence from MENA Countries. International Journal of Islamic and Middle Eastern Finance and Management. 13(5), 847-871.

Darmawan, A., Pratama, B. C., & Rismawati C. D. (2021). Antecedents of the Financial Sector Dividend Policy Listed on the IDX. Economic of Business Review. 10(1), 20-33.

Endang, M. W., Suhadak, S., Saifi, M., & Firdausi, N. (2020). The Effect of Ownership Structure and Leverage Towards Dividend Policy and Corporate Values. Journal of Public Administration Studies. 5(1), 1–4.

Finingsih, O., Nurlaela, S., & Titisari, K., H. (2018). The Influence of Profitability, Liquidity, Leverage, and Company Growth to Dividend Policy on Agricultural Companies in Indonesia Stock Exchange. The 2nd International Conference on Technology, Education, and Social Science. 2(1), 427-437.

Hermanto. (2018). Analisis Pembagian Dividen pada Perusahaan yang Tercatat di Bursa Efek Indonesia (BEI). Jurnal Akuntansi Bisnis. 11(1), 41-53.

Hwee, T. S., William, W., Stephani, S., Vera, V., Supantri, D., Wynne, W. & Prasetya, D. (2019). The Effect of Leverage Ratios, Profitability Ratios, Liquidity and Earning Per Share on Dividend Policy in Consumer Goods Companies Listed on the Indonesia Stock Exchange (IDX) 2013-2017. Journal of Applied Finance and Accounting. 14(1), 1-10.

Junita, R., Abubakar, E., & Bastari (2018). Effect of Profitability, Liquidity, Leverage, Growth and Measurement of Companies on Devident Policy on Manufacturing Company That Registered on IDX 2014-2016. Journal of Public Budgeting, Accounting and Finance. 1(4), 1-12.

Kasmir. (2020). Analisis Laporan Keuangan (Cetakan Ke-13). Jakarta : Raja Grafindo Persada.

Megawati, D. A., & Handayani, N. (2020). The Effect of Profitability, Leverage and Institutional Ownership on Dividend Policy. American Journal of Humanities and Social Sciences Research. 9(12), 1-18.

Nabela, E. F., & Widyawati, D. (2022). The Effect of Financial Ratios on Dividend Policy in Manufacturing Companies Listed on the IDX. Budapest International Research and Critics Institute Journal. 11(3), 1-20.

Nugraheni, N. P., & Mertha, M. (2019). Influence of Liquidity and Institutional Ownership on the Dividend Policy of Manufacturing Companies. PalArch’s Journal of Archaeology of Egypt. 26(1), 736-762.

Nurfatma, H., & Purwohandoko. (2020). Influence of Cash Flow, Company Size, and Financial Performance on Dividend Policy on the Indonesia Stock Exchange. AFRE Accounting and Financial Review. 4(2), 482–493.

Pattiruhu, J. R., & Paais, M. (2020). The Effect of Liquidity, Profitability, Leverage, and Firm Size on Dividend Policy. Journal of Asian Finance, Economics and Business. 7(10), 35–42.

Purwaningsih, E. (2019). Struktur Kepemilikan Memoderasi Pengaruh Profitabilitas Terhadap Kebijakan Dividen. Jurnal Ekonomi Universitas Esa Unggul. 10(2), 111–120.

Purwaningsih, E., & Lestari, K. (2021). Pengaruh Struktur Kepemilikan, Struktur Modal dan Pertumbuhan Aset Terhadap Kebijakan Dividen. Sistem Informasi, Keuangan, Auditing Dan Perpajakan. 6(1), 108-124.

Rahayu, D., & Rusliati, E. (2019). Institutional Ownership, Managerial Ownership, and Company Size on Dividend Policy. Journal of Applied Finance and Accounting. 11(1), 41–47.

Sitorus, P. R., Toni N., Syaifuddin, S. & Hwee, T. S. (2020). Analysis of the Effect of Liquidity, Leverage, Profitability, and Company Growth on Dividend Policy in Manufacturing Companies Sector Food and Beverage Listed on the IDX. Science and Technology Publications. 1(2), 384-391.

Wahjudi, E. (2020). Factors affecting dividend policy in manufacturing companies in Indonesia Stock Exchange. Journal of Management Development. 39(1), 4-17.

www.idx.co.id, (2022), Daftar Laporan Keuangan Tahunan Perusahaan, https://www.idx.co.id/perusahaan-tercatat/laporan-keuangan-dan-tahunan/, diakses pada 15 Mei 2022.




DOI: https://doi.org/10.31294/moneter.v9i2.13828

Index by:

   
 
 
 dipublikasikan oleh LPPM Universitas Bina Sarana Informatika dengan dukungan Relawan Jurnal Indonesia

Jl. Kramat Raya No.98, Kwitang, Kec. Senen, Kota Jakarta Pusat, DKI Jakarta 10450
Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License