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PENGARUH RASIO LIKUIDITAS, SOLVABILITAS DAN PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA

PRISTIANTO, TAUFIK FAJAR (2014) PENGARUH RASIO LIKUIDITAS, SOLVABILITAS DAN PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA. Undergraduate thesis, STIE PERBANAS SURABAYA.

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Abstract

This study was conductedtoexamine the effect ofliquidity ratios, solvencyandprofitabilityon dividend policyon manufacturing companiesinIndonesiaStock Exchange. The liquidity ratiowas measuredusing Cash Ratio(CR), the solvency ratiowas measuredusingDebtEquity Ratio(DER) while theprofitabilityratiomeasuredusingReturn On Assets(ROA). Dividend policyitselfis measuredbyusingthe DividendPayout Ratio(DPR). The samplingtechniqueused waspurposivesamplingcriteria: (1) manufacturingcompanyon the Stock Exchangeduring the period2009-2011, (2) theCompanyperforma dividendcontinuouslyduringthe study period, (3) theCompanyhas aresearch sampleof datacompleteness(financial statements). The data usedare secondary datasources ofdataobtainedfrompublished financialstatementsinIndonesian Stock Exchange. The data usedin this study were37manufacturing companiesin Indonesia Stock Exchangethe period2009-2011. The analysis techniqueusedismultiple regression, simultaneoustest(Uji F), the partialtest(Uji t). From theresults ofthe analysis in simultaneous showedthat thevariablesCash Ratio(CR), Debt Equity Ratio(DER) and Return on Assets(ROA) proved tosignificantlyaffect theDividend Payout Ratio(DPR). VariableCash Ratio(CR) andDebt Equity Ratio(DER) partially nothave a significant effecton theDividend Payout Ratio(DPR). The variablesReturn on Assets (ROA) have a significantpositive effecton theDividend Payout Ratio(DPR). Limitations ofthis studyisthe number of samplesobtainedwithvery fewcompaniesthatpay dividendscriteria3consecutiveyears-participatedandvariations ofthe independent variablesused inthis studyis onlyable to explainonly16percent ofthe dependent variable. In a next research, researcher are expectedto change thecriteria ofthe studyandadding variables-variablesoffinancialratiosarecapable ofmuch moreto explain the variabledividend policy. Keywords : Cash Ratio (CR), Debt Equity Ratio (DER), Return On Asset (ROA) and Dividend Payout Ratio (DPR)

Item Type: Thesis (Undergraduate)
Subjects: 600 - TECHNOLOGY > 658 - GENERAL MANAGEMENT > 658.15 - FINANCIAL MANAGEMENT
Divisions: Bachelor of Management
Depositing User: Perpustakaan Universitas Hayam Wuruk Perbanas Surabaya
Date Deposited: 10 Apr 2017 07:33
Last Modified: 17 Apr 2017 10:05
URI: http://eprints.perbanas.ac.id/id/eprint/746

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