Determinan Dividend Payout Ratio pada Emiten IDXHIDIV20 Bursa Efek Indonesia Tahun 2020
Article Sidebar
Main Article Content
Abstract
Tujuan dari penelitian ini adalah untuk mengetahui pengaruh return on investment, operational cash flow, total assets turnover, debt to equity ratio, dan firm size terhadap dividend payout ratio pada emiten yang terdaftar di IDXHIDIV 20 di Bursa Efek Indonesia tahun 2020. Desain penelitian yang digunakan dalam penelitian ini adalah metode kuantitatif dengan pendekatan deskriptif. Pengambilan sampel dilakukan dengan metode purposive sampling dan jumlah perusahaan yang diteliti sebanyak 8 perusahaan dari tahun 2016-2020. Teknik analisis data menggunakan metode analisis regresi data panel dengan program EViews 10. Hasil penelitian menunjukkan bahwa return on investment berpengaruh secara negatif dan signifikan terhadap dividend payout ratio. Sedangkan operational cash flow, total assets turnover, debt to equity ratio, dan firm size memiliki pengaruh yang tidak signifikan.
The purpose of this study is to analyze the effect of return on investment, operational cash flow, total assets turnover, debt to equity ratio, and firm size on dividend payout ratio on companies that are listed in the IDXHIDIV20 in 2020. This study uses quantitative method with descriptive approach. The samples were selected using purposive sampling method and the results consisted of 8 companies from 2016-2020. The data analysis was carried out with Data Panel Regression using EViews 10. The results of this study show that return on investment has a negative and significant effect on dividend payout ratio. Meanwhile, operational cash flow, total assets turnover, debt to equity ratio, and firm size didn’t have any effect.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This work is licensed under a Jurnal Muara Ilmu Ekonomi dan Bisnis Creative Commons Attribution-ShareAlike 4.0 International License.,/p>
References
Brigham, E.F and Joel F. Houston. (2019). Fundamentals of Financial Management, 15th Edition. Boston: Cengage Learning.
Echchabi, A., & Azouzi, D. (2016). Determinants of dividend payout ratios in tunusia: Insights in light of the jasmine revolution. Journal of Accounting, Finance and Auditing Studies, 2(1), 1-13.
Emeka, A. H. (2020). Determinants of dividend policy: Empirical evidence from nigerian listed firms. International Journal of Business Insights and Transformation, 13(2), 38-67.
Gordon, M.J. (1959), Dividends, earnings, and stock prices. The Review of Economics and Statistics, 41(2), 99-105.
Idawati, Ida Ayu Agung & Gede Merta Sudiartha. (2014). “Pengaruh Profitabilitas, Likuiditas, Ukuran Perusahaan terhadap Kebijakan Dividen Perusahaan Manufaktur di BEI”. E-Jurnal Manajemen Universitas Udayana, 3(6), 1604- 1616.
John F., and Muthusamy. (2010). Leverage, growth, and profitability as determinants of dividend payout ratio-sevidence from Indian paper industry. Asian Journal of Business Management Studies, 1(1), 26-30.
Kasmir. (2016). Analisis Laporan Keuangan. Jakarta: PT. RajaGrafindo Persada.
Lidia dan Agustine Ekadjaja. (2019). Faktor yang Mempengaruhi Kebijakan Dividen Pada Perusahaan Manufaktur yang Terdaftar di BEI. Jurnal Multiparadigma Akuntansi Tarumanagara. 1(2), 115-123. https://doi.org/10.24912/jpa.v1i2.4672
Lin, Dan and Lu Lin. How Does Corporate Governance Affect Free Cash Flow?. Journal of Applied Finance & Banking, 6(3), 145-156.
Lisnawati & Sufiyati. (2020). FAKTOR YANG MEMPENGARUHI KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI. Jurnal Multiparadigma Akuntansi Tarumanagara. 2(Juli), 1316-1324. https://doi.org/10.24912/jpa.v1i2.4672
Setiawan, Chandra & Vivien. (2021). Determinants of Dividend Policy: An Empirical Study of Consumer Goods Firms in Indonesia. Journal of Asian Finance, Economics, and Business, 6(6), 71-77.
Suharmanto, Ardelia, dkk. (2019). Analysis of Financial Performance and Opportunity of Investment on Dividend Policy with Profitability as Moderating Variable in LQ45 Company Listed in Indonesia Stock Exchange. International Journal of Scientific Research and Engineering Development. 2(1), 183-197
Tiurma, Rosmeilani Christina Marintan & Indra Widjaja. (2020). ANALISIS PENGARUH CURRENT RATIO, RETURN ON ASSETS, DEBT EQUITY RATIO, DAN CASH POSITION TERHADAP DIVIDEN PAYOUT RATIO PADA PERUSAHAAN MANUFAKTUR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BURSA EFEK INDONESIA SELAMA PERIODE 2015-2017. Jurnal Manajemen Bisnis dan Kewirausahaan, 4(4), 168-172. https://doi.org/10.24912/jmbk.v4i4.8681
Thakur, B.P.S. and Kannadhasan, M. (2018), "Determinants of dividend payout of Indian manufacturing companies: A quantile regression approach", Journal of Indian Business Research, 10(4), 364-376.
Wijaya R. (2017). “Kinerja Keuangan dan Ukuran Perusahaan terhadap Harga Saham dengan Kebijakan Dividen Sebagai Variabel Intervening”. Jurnal Keuangan dan Perbankan, 21(3), 459-472.
Yanuarti, Ika dan Helena Dewi. (2019). “The Influence of Factors Affecting Dividend Payout Ratio to Stock Price of Firms Listed in Indonesia Stock Exchange”. Advances in Economics, Business and Management Research. 100(1), 434-439.