PENGARUH COLLATERALIZABLE ASSETS, LIKUIDITAS PROFITABILITAS DAN PERTUMBUHAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN

Abstract

This research aimed to examine the effect of collateralizable assets, liquidity, profitability, and company growth on
the dividend policy. Profitability was measured by basic earning power, liquidity was measured by current ratio,
and growth was measured by growth, while the dividend policy was measured by debt payout ratio. by purposive
sampling method, it obtained 17 LQ 45 companies with 85 observations. Moreover, the research analysis technique
used multiple linear regressions analysis. This research was the quantitative method. Furthermore, the research
population used LQ 45 companies listed on Indonesia Stock Exchange (IDX) during the 2016-2020 period. This
research used the purposive sampling method, a sample selection with determining criteria. This research
concluded that: (1) Collateralizable Assets did not affect the dividend policy it meant that the fluctuation of
collateralizable assets owned by the company did not affect the dividend policy. (2) Liquidity had a positive effect
on the dividend policy it meant that the higher the company’s liquidity the larger the dividend payment given to
the stakeholders. (3) Profitability showed a positive effect on the dividend policy it meant that the higher the
company’s capability to generate profits the bigger its dividend payment. (4) company’s growth did not affect the
dividend policy, it meant that the slow or fast of the company’s growth did not affect the dividend policy.