PENGARUH LEVERAGE, LIKUIDITAS, DAN KEBIJAKAN DIVIDEN TERHADAP RESPON INVESTOR

Abstract

This research aimed to obtain empirical evidence of the effect of leverage, liquidity, and dividend policy on investors' responses. Leverage proxied with Debt to Equity Ratio (DER), liquidity proxied with Quick Ratio (QR), and dividend policy proxied with Dividend Per Share (DPS). Moreover, the investors' responses proxied with the stock price. The research was quantitative. Furthermore, the population was Food and Beverage companies listed on the IDX during 2020-2022. Additionally, the data collection technique used purposive sampling with determined criteria. In line with that, there were 22 samples from 84 companies. In addition, the data analysis technique used multiple linear regression. The result indicated that the Debt to Equity Ratio (DER) with a significance value of 0.486 > 0.05, did not affect the stock price. Likewise, Quick Ratio (QR) with a significance value of 0.448 > 0.05, did not affect the stock price. On the other hand, DPS, with a significance value of 0.000 < 0.05 and a beta value of 0.557, means that DPS has a positive effect on stock prices.