Analisis Kebijakan Dividen pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

Erika Hadi Septiani, Sugianto Sugianto, Dahlia Pinem

Abstract


This Research is using quantitative study aimed to see whether there are influence of profitability, liquidity, leverage, inflation, and BI rate on dividend policy. This study uses manufacturing companies listed on the Indonesian Stock Exchange as samples. This study uses non-probability sampling with purposive sampling as sampling method. Testing the hypothesis in this study was used Data Panel Regression Analisys using Eviews 11.0 tool with a significant level of 0.05 %. The results of these tests indicate that (1)there is positive significant influence of profitability on dividend policy, (2)there is negative significant influence of leverage on dividend policy and (3)there is no significant effect liquidity, inflation and BI Rate on dividend policy.

Keywords


profitability; liquidity; leverage; macro economy; dividend policy.

Full Text:

PDF

References


Ardiyanti, N. R. S. A. (2015). Pengaruh Faktor-Faktor Fundamental dan Teknikal Terhadap Dividend Payout Ratio, Jurnal Riset Akuntansi dan Perpajakan (JRAP), 2(2), hlm. 218-229.

Baker H. K., et al. (2019). Dividend Policy Determinants of Sri Lanka Firms: A Triangulation Approach, Managerial Finance, 45(1), pp. 2-20. DOI 10.1108/MF-03-2018-0096.

Bawamenewi, K., dan Afriyeni. (2019). Pengaruh Profitabilitas, Leverage, dan Likuiditas terhadap Kebijakan Dividen pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia, Jurnal Pundi, 3(1), hlm. 27-40. DOI 10.31575/jp.v3i1.141.

Chandra, A., Efni, Y., dan Emrinaldi. (2018) Analisis Pengaruh Fundamental dan Makro Ekonomi Terhadap Kebijakan Dividen dengan Return on Asset Sebagai Variabel Intervening pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2012-2015, Jurnal Tepak Manajemen Bisnis, 10(2), hlm. 188-209.

Cristea, C., and Cristea, M. (2017). Determinants of Corporate Dividend Policy: Evidence from Romanian Listed Companies, MATEC Web of Conferences, 126, pp. 1-4. DOI 10.1051/matecconf/201712604009.

Darmawan, D. (2014). Metode Penelitian Kuantitatif. Bandung: PT Remaja Rosdakarya.

Debi Monika, N. G. A. P., dan Sudjarni, L. K. (2017). Pengaruh Likuiditas, Profitabilitas dan Leverage terhadap Kebijakan Dividen pada Perusahaan Manufaktur di Bursa Efek Indonesia, E-Jurnal Manajemen Universitas Udayana, 7(2), hlm. 905-932. https://doi.org/10.24843/EJMUNUD.2018.v7.i02.p13.

Hasson, Amjad et al. (2016). The Determinants of Corporate Dividend Policy Evidence from Palestine, Journal of Finance and Investment Analysis, 5(4), pp. 29-41.

Hung, Dang Ngoc et al. (2018). Factors Influencing The Dividend Policy of Vietnamese Enterprises, Asian Journal Of Finance & Accounting, 10(2), pp. 16-29. DOI 10.5296/ajfa.v10i2.13651.

Le, T. T. H., Nguyen, X. H., and Tran, M.D. (2019). Determinants of Dividend Payout Policy in Emerging Markets: Evidence from The ASEAN Region, Asian Economic and Financial Review, 9(4), pp. 531-546. DOI 10.18488/journal.aefr.2019.94.531.546.

Nurhamdi, M. (2020). Pengaruh Variabel Makro Ekonomi Terhadap Profitabilitas (ROA) serta Dampaknya pada Dividend Payout Ratio (DPR) pada Perusahaan Sektor Properti di Bursa Efek Indonesia (BEI), Jurnal SEKURITAS (Saham, Ekonomi, Keuangan dan Investasi), 3(3), hlm. 247-261.

Pangeastuti, Dewi Cahyani. (2019). Analisis Faktor-faktor yang Mempengaruhi Kebijakan Dividen, Jurnal Mitra Manajemen (JMM Online), 3(11), hlm. 1055-1072.

Singla, H. K., and Samanta, P. K. (2018). Determinants of Dividend Payout of Construction Companies: A Panel Data Analysis, Journal of Financial Management of Property and Construction Emerald Publishing Limited. 1366-4387. DOI 10.1108/JFMPC-06-2018-0030.

Sugiyono. (2013). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta.

Thakur, B. P. S., and Kannadhasan, M. (2018). Determinants of Dividend Payout of Indian Manufacturing Companies: A Quantile Regression Approach, Journal of Indian Bussiness Research, 10(4), pp. 364-376. DOI 10.1108/JIBR-02-2018-0079.

Ullah, K., et al. (2019). Factors Affecting Dividend Policy: An Empirical Investigation of Food Sector of Pakistan, Research Journal of Finance and Accounting, 10(5), pp. 12-28. DOI 10.7176/RJFA.

Wahjudi, E. (2020). Factors Affecting Dividend Policy in Manufacturing Companies in Indonesia Stock Exchange, Journal of Management Development, 39(1), pp. 4-17. DOI 10.1108/JMD-07-2018-0211.


Refbacks

  • There are currently no refbacks.


Copyright (c) 2021 Konferensi Riset Nasional Manajemen Akuntansi dan Ekonomi

Diterbitkan oleh: 

Fakultas Ekonomi dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Jl. RS Fatmawati No. 1, Pondok Labu, Jakarta Selatan, Indonesia 12450

Prosiding BIEMA is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.