PENGARUH KINERJA KEUANGAN DAN KEBIJAKAN DIVIDEN TERHADAP RESPON INVESTOR

Abstract

Capital markets are often used by investors to increase their confidence in investing. Before investing, investors need accurate information that can be used as a basis for investor consideration in making investment decisions. This research aims to examine the influence of financial performance and dividend policy on investor’s respons. Financial performance measured with using financial ratio consist of: return on equity (ROE), current ratio (CR), debt to equity ratio (DER). While the investor’s respons represent with stock price. The type of research used is the type of quantitative research where the sampling technique using purposive sampling method. The research sample consisted of 36 manufacturing companies which is listed in the Indonesian Stock Exchange Investment Gallery (IDX) which started from 2012 until 2016. The type of data that been used is documentary data with data collection techniques using documentation method. The statistical methods that been used in determining the variables that can influenced the stock price is through multiple linear analysis techniques with using SPSS (Statistical Product and Service Solutions) application tools. The results showed that return on equity (ROE) had a positive and significant influence on stock price, while current ratio (CR), debt to equity ratio (DER), and dividend payout ratio (DPR) had no significant influence on stock price.
Keywords: Financial performance, dividend policy, stock price