PENGARUH KEPEMILIKAN, HUTANG, LIKUDITAS, AKTIVA TETAP, UKURAN DAN KINERJA PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN

Abstract

The purpose of this researchis to examine the influence of variables i.e.: Managerial Ownership (KMA), Debt to Total Asset (DTA), Quick Ratio (QUI), Collateral Assets (COL), Firm Size (size), Return on Investment (ROI), and Growth Companies (GRW) to the Dividend Policy (DPR). The population of this research are all manufacturing consumer goods industry sector companies which are listed in Indonesia Stock Exchangein 2006-2014 periods. The data has obtained from the Indonesian Capital Market Directory (ICMD). By using purposive sampling method, 162 companies manufacturing consumer goods industry sector companies have been selected as samples. The result of multiple linear regressions analysis shows that Collateralizable Assets (COL) and Company Growth (GRW) variables have significant and negative influence on dividend policy. Return on Investment (ROI) variable has significant and positive influence on the dividend policy variable. Meanwhile, Managerial Ownership (KMA), Debt to Total Asset (DTA), Quick Ratio (QUI), and Firm Size (size) does not have any influence on dividend policy. The entire independent variables in the model simultaneously have the predictive ability of the R-Square of 0,568 or 56.8% can predict dividend policy. Meanwhile, the remaining 43.2% is influenced by other variables outside the model.
Keywords: Collateral Assets, Return on Investment, Growth Companies, Dividend Policy