PENGARUH PROFITABILITAS, LEVERAGE, DAN KEBIJAKAN DIVIDEN TERHADAP REPON INVESTOR

Abstract

This research aimed to examine the effect of profitability, leverage, and dividend policy on investors’ responses. The research was quantitative. Moreover, the population was 64 Energy companies listed on the Indonesia Stock Exchange (IDX) during 2019-2022. The data collection technique used purposive sampling. In line with that, there were 55 Energy companies as the sample. Furthermore, the data were taken from the Gallery of Indonesia Stock Exchange Investment. The data analysis technique used multiple linear regression. The result showed that (a) profitability had a positive effect on investors’ responses to Energy companies listed on IDX; (b) leverage dis not affect investors’ responses to Energy companies listed on IDX. The amount of companies’ leverage (either higher or lower) could not describe the risk that companies owned; (c) dividend policy did not affect investors’ responses to Energy companies listed on IDX. It happened as in the long-term, the investors did not consider companies’ prospects in the future than the dividend policy that companies shared.