FAKTOR-FAKTOR YANG MEMPENGARUHI KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI DI BURSA EFEK INDONESIA

Abstract

This research aimed to examine some factors which affected dividend policy, namely firm size which
was measured by Ln Total Asset, liquidity which was measured by Current Ratio, profitability which was
measured by Return On Asset, debt policy which was measured by Debt to Equity Ratio, and family
ownership which was measured by dummy. While, the dividend policy was measured by Dividend
Payout Ratio. Moreover, the population was Consumption Needs manufacturing companies which
were listed on Indonesia Stock Exchange during 2016-2020. The research was quantitative.
Furthermore, the data collection technique used purposive sampling. In line with that, there were 16
Consumption Needs manufacturing companies as the sample. Additionally, the data were secondary,
in the form of publication data by Indonesia Stock Exchange (IDX) and could be accessed through a
website (www.idx.co.id). In addition, the data analysis technique used multiple linear regression. The
research result concluded that firm size, liquidity, and profitability had a positive effect on dividend
policy. On the other hand, debt policy did not affect dividend policy. In contrast, family ownership had a
negative effect on dividend policy.