FAKTOR-FAKTOR YANG MEMPENGARUHI DIVIDEND POLICY DENGAN BUSINESS RISK SEBAGAI VARIABEL MODERASI
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Abstract
This study aims to determine the effect of liquidity, profitability, growth in assets on
dividend policy and also the effect of moderating variables on business risk. The
research data is data on manufacturing companies listed on the IDX in the form of
financial statements for 2018-2020. The sample was selected using purposive sampling
technique and obtained a sample of 38 companies. The research data is panel data
which is processed using Eviews 12. The results of this study are profitability has a
negative and significant effect on dividend policy. Liquidity and growth in assets have
no significant effect on dividend policy. Meanwhile, the moderating variable of business
risk can be moderated by weakening the relationship between growth in assets and
dividend policy. However, the moderating variable of business risk cannot moderate the
relationship between liquidity and profitability to dividend policy.
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