KINERJA KEUANGAN, KEBIJAKAN DIVIDEN DAN RESPON INVESTOR

Abstract

This research aimed to find out the effect of financial performance and dividend on the investors response. While, the population was manufacturing companies of consumption industry which were listed on Indonesia Stock Exchange 2013 – 2017. Moreover, the data collection technique used purposive sampling. In line with, there were 75 samples. Furthermore, the data analysis technique used multiple linear regression. In addition, the data result concluded as follows: (a) Current Ratio did not affect the shares return. It meant, the investors did not respond CRT, (b) Total Assets Turnover did not affect the shares return. In other words, the investors did not respond higher TAT which was not followed by higher net profit, (c) Debt to Equity Ratio did not affect the shares return. It meant, debts were needed mostly by the company for its capital and operational. Besides, it also showed the investors did not respond DER, (d) Return On Equity did not affect the shares return. In other words, the investors did not respond ROE, (e) Dividend Payout Ratio had positive effect on the shares return. It meant, higher DPR showed company was having good cash flow. In short, the investors had good response on DPR.
Keyword: current ratio, total assets turnover, debt to equity ratio, return on equity, dividend payout ratio, shares return.