Analisis Pengaruh Leverage, Likuiditas, Profitabilitas, Pertumbuhan Perusahaan Dan Ukuran Perusahaan Terhadap Kebijakan Dividen

Bella Ayuningthias, Hendratno Hendratno

Abstract

Abstrak Kebijakan dividen menyangkut tentang masalah penggunaan laba yang menjadi hak para pemegang saham, laba tersebut dapat dibagi sebagai dividen atau ditahan untuk diinvestasikan kembali.Penelitian ini bertujuan untuk menganalisis Pengaruh Leverage, Likuiditas, Profitabilitas, Pertumbuhan Perusahaan dan Ukuran Perusahaan Terhadap Kebijakan Dividen pada perusahaan sub sektor properti, real estate dan sub sektor konstruksi bangunan yang terdaftar di Bursa Efek Indonesia 2013-2017. Populasi penelitian ini adalah seluruh perusahaan sub sektor properti, real estate dan sub sektor konstruksi bangunan yang terdaftar di Bursa Efek Indonesia periode 2013-2017. Metode sampling yang digunakan adalah purposive sampling dengan jumlah sampel 9 perusahaan. Teknik analisis data yang digunakan regresi data panel, tetapi sebelum pengujian hipotesis terlebih dahulu dilakukan uji asumsi klasik. Hasil penelitian ini menunjukan bahwa Debt to Equity Ratio, Current Ratio, Return on Assets, Sales Growth dan Firm Size secara simultan berpengaruh signifikan terhadap Dividend Payout Ratio. Secara parsial Debt to Equity Ratio berpengaruh positif tidak signifikan terhadap Dividend Payout Ratio, Current Ratio berpengaruh negatif signifikan, Return on Assets berpengaruh negatif tidak signifikan terhadap Dividend Payout Ratio, Sales Growth berpengaruh positif tidak signifikan terhadap Dividend Payout Ratio dan Firm Size berpengaruh negatif signifikan terhadap Dividend Payout Ratio. Kata kunci: Debt to Equity Ratio , Current Ratio, Return on Assets, Sales Growth, dan Firm size dan Dividend Payout Ratio Abstract The dividendd.policy concerns the issue of the use of profits which are the rights of shareholders, the profits may be divided as dividends or retained for reinvestment. This study aims to analyze the Effect of Leverage, Liquidity, Profitability, Company Growth, and Company Size on Dividend Policy in the property, real estate subsectors and building construction sub-sector, that is listed on the Indonesia Stock Exchange 2013-2017. The population of this research is all property sub-sectors companies, real estate and building construction sub-sector that is listed on the Indonesia Stock Exchange for the 2013-2017 period. The sampling method is purposive sampling with each sample from 9 companies. The data analysis technique used is panel data regression, but before hypothesis testing, the research conducted a classical assumption test first. The results of this study indicate that the Debt to Equity Ratio, Current Ratio, Return on Assets, Sales Growth and Firm Size simultaneously have a significant effect on the Dividend Payout Ratio.Partially Debt to Equity Ratio has a positive but not significant effect on Dividend Payout Ratio,, Current Ratio have a significant negative effect on Dividend Payout Ratio, Return On Assets has a negative effect but not significant on Dividend ISSN : 2355-9357 e-Proceeding of Management : Vol.6, No.1 April 2019 | Page 189 Payout Ratio, Sales Growth has a positive effect but not significant on Dividend Payout Ratio,Firm Size has a significant negative effect on Dividend Payout Ratio. Keywords: Debt to Equity Ratio , Current Ratio, Return on Assets, Sales Growth, dan Firm size dan Dividend Payout Ratio

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