PENGARUH LIKUIDITAS DAN PROFITABILITAS   TERHADAP KEBIJAKAN DIVIDEN

Keukeu Firda Lestari; Heraeni Tanuatmodjo; Mayasari Mayasari

doi:10.17509/jbme.v4i1.2293

PENGARUH LIKUIDITAS DAN PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN

Journal of Business Management Education (JBME) ◽

10.17509/jbme.v1i2.5874 ◽

2017 ◽

Vol 1 (2) ◽

pp. 11-16

Author(s):

Keukeu Firda Lestari ◽

Heraeni Tanuatmodjo ◽

Mayasari Mayasari

Keyword(s):

Hypothesis Testing ◽

Dividend Policy ◽

Annual Report ◽

Stock Exchange ◽

Secondary Data ◽

Sampling Technique ◽

Significance Test ◽

Return On Equity ◽

Factors Affecting ◽

Summary Of Performance

The problem of this research was about decrease in dividend policy BUSN Devisa listed on the Indonesia Stock Exchange which is measured by Dividend Payout Ratio (DPR) over the last two years. These factors affecting the dividend policy were liquidity which is measured by Loan to Deposit Ratio (LDR) and profitability which is measured by Return On Equity (ROE). The purposes of this study were describing the liquidity, profitability, dividend policy, the effect liquidity on dividend policy, the effect profitability on dividend policy, and the effect of liquidity and profitability on dividend policy. This research utilised descriptive and verificative, the technique which is used was multiple correlation, and hypothesis testing used t Test (partial significance test) and F Test (simultaneous significance test). The data is gained from secondary data which is from the annual report and summary of performance BUSN Devisa from 2010-2014. The population of this study was 25 BUSN Devisa listed on the Indonesia Stock Exchange with 4 samples through purposive sampling technique. The result of hypothesis testing in partial showed that liquidity and profitability effected the dividend policy significantly. The result of hypothesis testing showed that the liquidity and profitability effected on dividend policy significant simultaneously.Keywords: Liquidity, Profitability, Dividend Policy

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PENGARUH PERTUMBUHAN PERUSAHAAN, UKURAN PERUSAHAAN, STRUKTUR MODAL DAN RETURN ON EQUITY TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Jurnal Benefita ◽

10.22216/jbe.v1i1.3388 ◽

2019 ◽

Vol 1 (1) ◽

pp. 78 ◽

Cited By ~ 1

Author(s):

Suci Wahyuliza ◽

Ratna Fahyani

Keyword(s):

Capital Structure ◽

Dividend Policy ◽

Stock Exchange ◽

Sampling Technique ◽

Company Size ◽

Return On Equity ◽

Purposive Sampling ◽

Corporate Growth ◽

Company Growth ◽

Simultaneous Influence

The purpose of this study is to determine the partial and simultaneous influence of Corporate Growth, Company Size, Capital Structure and Return On Equity Against Dividend Policy. The population of this study is a manufacturing company listed on the Indonesia Stock Exchange (BEI) in 2013 until 2015 as many as 131 companies. Sampling was done by purposive sampling technique so that resulted 22 company. Data analysis used is multiple regression analysis. The result of the research shows that company growth does not influence Dividend Policy, while Company Size, Capital Structure and Return on Equity influence to dividend policy.Tujuan penelitian ini adalah untuk mengetahui pengaruh secara parsial dan simultan dari Pertumbuhan Perusahaan, Ukuran Perusahaan, Struktur Modal dan Return On Equity Terhadap Kebijakan Dividen. Populasi penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2013 sampai tahun 2015 sebanyak 131 perusahaan. Pengambilan sampel dilakukan dengan teknik purposive sampling sehingga dihasilkan 22 perusahaan. Analisis data yang digunakan adalah analisis regresi berganda. Hasil penelitian menunjukkan bahwa Pertumbuhan Perusahaan tidak berpengaruh terhadap Kebijakan Dividen, sedangkan Ukuran Perusahaan, Struktur Modal dan Return on Equity berpengaruh terhadap Kebijakan dividen.

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PENGARUH KEBIJAKAN DIVIDEN, LEVERAGE PERUSAHAAN DAN PROFITABILITAS TERHADAP RETURN SAHAM

Jurnal Ilmiah Bisnis dan Ekonomi Asia ◽

10.32812/jibeka.v11i2.43 ◽

2018 ◽

Vol 11 (2) ◽

pp. 32-37

Author(s):

Raisa Fitri

Keyword(s):

Linear Regression ◽

Multiple Linear Regression ◽

Stock Returns ◽

Quantitative Methods ◽

Sampling Method ◽

Dividend Policy ◽

Stock Exchange ◽

Sampling Technique ◽

Return On Equity ◽

Equity Ratio

This research aimed to analyze the influence the dividend policy proxied by Dividend Payout Ratio (DPR), leverage the company proxied by Debt to Equity Ratio (DER) and profitability proxied by Return On Equity (ROE) to return stock in companies manufacturing sub-sectors of the food and drinks listed in Indonesia Stock Exchange period 20013-2015. This study uses quantitative methods. The sampling technique used purposive sampling method and selected according to established criteria. Model analysis used multiple linear regression. From the analysis of the following results, dividend policy (DPR), the company's leverage (DER), profitability (ROE) either partially or simultaneously has no effect on stock returns

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Faktor-faktor yang mempengaruhi kebijakan dividen pada perusahaan non keuangan

Jurnal Bisnis dan Akuntansi ◽

10.34208/jba.v19i1.68 ◽

2018 ◽

Vol 19 (1) ◽

pp. 92-102

Author(s):

NOVIA WIJAYA

Keyword(s):

Dividend Policy ◽

Stock Exchange ◽

Total Asset ◽

Sales Growth ◽

Current Ratio ◽

Return On Equity ◽

Factors Affecting ◽

Asset Turnover ◽

Equity Ratio ◽

Financial Company

The purpose of this research is to analyze the factors affecting on dividend policy of non financial company that listed in Indonesian Stock Exchange for period 2011 until 2013. This research use return on equity (ROE), current ratio (CR), debt to equity ratio (DER), sales growth (SG), investment opportunity set (IOS), size of firm (SIZE), and total asset turnover (TATO). The data are collected from 99 non financial company listed at Indonesian Stock Exchange (BEI) and the observation period are three years. Sampling method used is purposive sampling and data analysis with multiple linear regression. Empirical evidence shows that, sales growth has influence to dividend policy and return on equity, current ratio, debt to equity ratio, investment, size firm, and total asset turnover have not influence to dividend policy.

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PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Jurnal Benefita ◽

10.22216/benefita.v3i2.3493 ◽

2018 ◽

Vol 3 (2) ◽

pp. 227

Author(s):

Lidya Martha ◽

Nur Ukhti Sogiroh ◽

Maria Magdalena ◽

Febsri Susanti ◽

Yulia Syafitri

Keyword(s):

Sampling Method ◽

Dividend Policy ◽

Annual Report ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Return On Equity ◽

Book Value ◽

Purposive Sampling ◽

Data Source

The purpose of this study is to examine the affect of profitability and dividend policy toward the firm’s value on the bank companies which are listed in Indonesia Stock Exchange.The number of populations are all banks companies which are listed in Indonesia Stock Exchange. The sample was selected using purposive sampling method, and obtained sample of 30 companies. Data source is the annual report of banking companies taken through the official website of Indonesia Stock Exchange (www.idx.co.id). The test used multiple linear regression analysis using Eviews Program. Profitability proxy with Return On Equity, while dividend policy proxy with Dividend Payout Ratio. The result this study shows that profitability has positively and significantly effect to firm’s value, whereas dividend policy has negatively and insignificantly effect to firm’s value. Penelitian ini bertujuan untuk menguji pengaruh profitabilitas dan kebijakan dividen terhadap nilai perusahaan pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia. Populasi penelitian adalah seluruh perusahaan perbankan yang terdaftar di BEI periode 2012 – 2016. Sampel dipilih menggunakan metode purposive sampling dengan kriteria sampel adalah Perbankan yang terdaftar di BEI dalam periode 2012 – 2016, Perbankan yang memiliki laporan keuangan lengkap dalam periode 2012 – 2016, Perbankan yang membagikan deviden dalam periode 2012 – 2016, dan diperoleh sampel sebanyak 30 perusahaan. Sumber data adalah laporan keuangan tahunan perusahaan perbankan yang diambil melalui situs resmi Bursa Efek Indonesia (www.idx.co.id). Pengujian menggunakan analisis regresi linier berganda dengan alat bantu Program Eviews. Profitabilitas diukur dengan menggunakan Return On Equity, sedangkan kebijakan dividen diukur dengan Dividend Payout Ratio serta nilai perusahaan diukur dengan Price to Book Value. Hasil penelitian menunjukkan bahwa variabel profitabilitas berpengaruh positif dan signifikan terhadap nilai perusahaan, sedangkan kebijakan dividen berpengaruh negatif dan tidak signifikan terhadap nilai perusahaan.

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The Factors Affecting Dividend Policy: Empirical Study from Pharmaceutical’s Companies in Pakistan (PSX)

European Journal of Business Management and Research ◽

10.24018/ejbmr.2020.5.5.464 ◽

2020 ◽

Vol 5 (5) ◽

Author(s):

Sajida Gul ◽

Irfan Ullah ◽

Hina Gul ◽

Shahid Rasheed

Keyword(s):

Dividend Policy ◽

Stock Exchange ◽

Sampling Technique ◽

Fixed Effect Model ◽

Population Based ◽

Free Cash Flow ◽

Panel Var ◽

Factors Affecting ◽

Future Performance ◽

Effect Model

The existing study intends to measure those factors that affect dividend policy by considering pharmasuitacal’s companies registered on PSX from 2013 to 2017. Population based on all sectors of Pakistan Stock Exchange (PSX) in which pharmaceutical’s companies taken as a sample by using census sampling technique because all companies of pharmaceutical sector were considered. Panel VAR model, fixed effect model (FAM) and also used a regression model to define the influence of IV on DV. The results revealed that has a significant effect of managerial ownership, debt policy, ROA, firm size and free cash flow on dividend policy. The findings of this study demonstrated that the company’s future performance has more concern for the betterment investors than current revenue. There should be active focus on the future aspects in order to improve firm performance.

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THE MEDIATING ROLE OF DEBT AND DIVIDEND POLICY ON THE EFFECT PROFITABILITY TOWARD STOCK PRICE

Jurnal Manajemen dan Kewirausahaan ◽

10.9744/jmk.22.1.1-10 ◽

2020 ◽

Vol 22 (1) ◽

pp. 1-10

Author(s):

Akhmadi Akhmadi ◽

Nurohman Nurohman ◽

Robiyanto Robiyanto

Keyword(s):

Stock Prices ◽

Stock Price ◽

Dividend Policy ◽

Stock Exchange ◽

Sampling Technique ◽

Return On Equity ◽

Mediating Role ◽

Debt Policy ◽

Positive Effect

This study aimed to obtain an empirical explanation of the role of debt policy and dividend policy as variables mediating the influence of profitability on stock prices. This study used six mining companies listed on the Indonesia Stock Exchange (IDX) during the period of 2012–2016 as samples, hence there were 30 observational data. The sampling technique in this study was purposive sampling. This study found that profitability had a positive effect on stock prices, but the increasing profitability would not necessarily reduce the debt policy. The increasing profitability did not significantly increase the dividend policy, however, increasing dividend policy would increase the stock prices. The results also proved that debt and dividend policy did not mediate the influence of return on equity on the stock prices.

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PERAN PROFITABILITAS DALAM MEMODERASI PENGARUH STRUKTUR MODAL DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

JURNAL AKUNTANSI ◽

10.37932/ja.v9i1.92 ◽

2020 ◽

Vol 9 (1) ◽

pp. 1-13

Author(s):

Mislia Ambar Sari ◽

Lela Nurlaela Wati ◽

Bambang Rahardjo

Keyword(s):

Regression Analysis ◽

Capital Structure ◽

Hypothesis Testing ◽

Firm Value ◽

Dividend Policy ◽

Stock Exchange ◽

Sampling Technique ◽

Manufacturing Companies ◽

Analysis Technique ◽

The Capital Structure

This study aims to determine the effect of capital structure and dividend policy on firm value by moderating profitability in food beverages companies. Samples are Food Beverages Sub Sector manufacturing companies listed on the Indonesia Stock Exchange in the 2014-2018 period, which were taken using purposive sampling technique. The analysis technique used is a moderation regression analysis (MRA) using eviews 9. The results of hypothesis testing show that the capital structure variable (DER) has a positive and significant effect on firm value (PBV), dividend policy (EPS) has a positive and significant effect on firm value ( PBV), profitability (ROA) strengthens the effect of capital structure (DER) on firm value (PBV), but profitability (ROA) does not strengthen the effect of dividend policy (EPS) on firm value (PBV). These results indicate that the higher the capital structure financed by debt and the greater the dividends distributed to investors, the higher the firm value.Keywords: Capital Structure, Dividend Policy, Profitability, Firm Value

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The Effect of Debt to Equity Ratio and Return on Equity on Stock Return with Dividend Policy as Intervening Variables in Subsectors Property and Real Estate on Indonesia Stock Exchange

International Journal of Multicultural and Multireligious Understanding ◽

10.18415/ijmmu.v7i7.1850 ◽

2020 ◽

Vol 7 (7) ◽

pp. 255

Author(s):

Dina Nurhikmawaty ◽

Isnurhadi Isnurhadi ◽

Marlina Widiyanti ◽

Yuliani Yuliani

Keyword(s):

Data Analysis ◽

Real Estate ◽

Path Analysis ◽

Stock Returns ◽

Dividend Policy ◽

Stock Exchange ◽

Sampling Technique ◽

Dividend Payout ◽

Return On Equity ◽

Equity Ratio

Debt to Equity Ratio (DER) and Return on Equity (ROE) to stock returns with dividend policy as an intervening variable on property and real estate companies listed on the Indonesia Stock Exchange in 2014-2018. This type of research is quantitative. This research population publishes all property and real estate companies listed on the Indonesia Stock Exchange. The sampling technique used is purposive sampling. The data contributed to the research of 54 companies, and obtained a sample of 18 companies. Data analysis method used is path analysis (path analysis) using the multiple test. Based on the results of data analysis, it shows that: (1) Debt to Equity Ratio (DER) does not affect stock returns; (2) Return on equity (ROE) has a significant effect on stock returns; (3) Debt to Equity Ratio (DER) has a significant effect on Dividend Payout Ratio (DPR); (4) Return on equity (ROE) has a significant effect on Dividend Payout Ratio (DPR); (5) Dividend Payout ratio (DPR) can mediate the effect of Debt to Equity Ratio (DER) on stock returns; (6) Dividend payout ratio (DPR) can mediate the effect of return on equity (ROE) on stock returns.

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PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Jurnal Benefita ◽

10.22216/jbe.v3i2.3493 ◽

2018 ◽

Vol 3 (2) ◽

pp. 227

Author(s):

Lidya Martha ◽

Nur Ukhti Sogiroh ◽

Maria Magdalena ◽

Febsri Susanti ◽

Yulia Syafitri

Keyword(s):

Sampling Method ◽

Dividend Policy ◽

Annual Report ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Return On Equity ◽

Book Value ◽

Purposive Sampling ◽

Data Source

The purpose of this study is to examine the affect of profitability and dividend policy toward the firm’s value on the bank companies which are listed in Indonesia Stock Exchange.The number of populations are all banks companies which are listed in Indonesia Stock Exchange. The sample was selected using purposive sampling method, and obtained sample of 30 companies. Data source is the annual report of banking companies taken through the official website of Indonesia Stock Exchange (www.idx.co.id). The test used multiple linear regression analysis using Eviews Program. Profitability proxy with Return On Equity, while dividend policy proxy with Dividend Payout Ratio. The result this study shows that profitability has positively and significantly effect to firm’s value, whereas dividend policy has negatively and insignificantly effect to firm’s value. Penelitian ini bertujuan untuk menguji pengaruh profitabilitas dan kebijakan dividen terhadap nilai perusahaan pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia. Populasi penelitian adalah seluruh perusahaan perbankan yang terdaftar di BEI periode 2012 – 2016. Sampel dipilih menggunakan metode purposive sampling dengan kriteria sampel adalah Perbankan yang terdaftar di BEI dalam periode 2012 – 2016, Perbankan yang memiliki laporan keuangan lengkap dalam periode 2012 – 2016, Perbankan yang membagikan deviden dalam periode 2012 – 2016, dan diperoleh sampel sebanyak 30 perusahaan. Sumber data adalah laporan keuangan tahunan perusahaan perbankan yang diambil melalui situs resmi Bursa Efek Indonesia (www.idx.co.id). Pengujian menggunakan analisis regresi linier berganda dengan alat bantu Program Eviews. Profitabilitas diukur dengan menggunakan Return On Equity, sedangkan kebijakan dividen diukur dengan Dividend Payout Ratio serta nilai perusahaan diukur dengan Price to Book Value. Hasil penelitian menunjukkan bahwa variabel profitabilitas berpengaruh positif dan signifikan terhadap nilai perusahaan, sedangkan kebijakan dividen berpengaruh negatif dan tidak signifikan terhadap nilai perusahaan.

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