PENGARUH KINERJA KEUANGAN, KEPEMILIKAN MANAJERIAL, PERTUMBUHAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN CONSUMER GOODS

Abstract

This study intends to examine the effect of profitability, liquidity, managerial ownership, and company growth on dividend policy. The variables used in this study are financial performance, managerial ownership, and company growth in consumer goods companies with the food and beverages sub-sector listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period. Dividend policy is an important decision because it involves two parties that have conflicting interests between management and shareholders. This research is a correlational quantitative research which is a research that aims to examine the relationship between one variable and another by taking a sample using the purposive sampling method. The results of purposive sampling obtained as many as 9 companies with data collection for 5 years so that 35 research data were collected. Data collection was obtained from the annual financial reports published on the Indonesia Stock Exchange (IDX) on the website www.idx.co.id and the STIESIA Surabaya Stock Exchange Investment Gallery. The results of hypothesis testing show that profitability and liquidity have a positive effect on dividend policy. Meanwhile, company growth and managerial ownership have no effect on dividend policy.