Pengaruh pertumbuhan Aset, Leverage, ukuran perusahaan dan Profitabilitas terhadap kebijakan Dividen
DOI:
https://doi.org/10.32670/fairvalue.v5i3.2134Keywords:
Asset growth; Leverage; Firm size; Profitability; Dividend policyAbstract
The ideal dividend policy divides current payouts and long-term growth equally. Thus, the purpose of this research is to determine the impact of asset growth, leverage, firm size, and profitability on empirical dividend policy for companies in the food and beverage subsector listed on the Indonesia Stock Exchange, either partially or concurrently, during 2016 until 2020. This analysis uses the form comparative causal analysis to determine the relationship correlation two or many variables. Purposive sampling was used to choose manufacturers with in food and beverage subsector that were posted here on Indonesia Stock Exchange between 2016-2020 as samples for this study. Obtained 8 corporations which meet qualifications for the research sample, then the sample can be obtained 40 financial statements. This research method uses multiple regression analysis. The results partially prove that the profitability variable (NPM) on dividend policy has had a positive and significant effect, other variables of asset growth (AG) and leverage (DER) have a negative and significant effect on dividend policy, and firm size (SF) have had no effect on dividend policy. Simultaneously, there influence for the variables on asset growth (AG), leverage (DER), firm size (SF), and profitability (NPM) for dividend policy was obtained..
References
Adityasari, N., & Septiarini, D. F. (2018). Determinan kebijakan dividen pada perusahaan manufaktur di Jakarta Islamic Index. Jurnal Ekonomi Syariah Teori Dan Terapan, 5(5), 423. https://doi.org/10.20473/vol5iss20185pp423-435
Ali, N. Y., Mohamad, Z., & Baharuddin, N. S. (2018). The Impact Of Ownership Structure On Dividend Policy : Evidence Of Malaysian Listed Firms. Journal of Global Business and Social Entrepreneurship (GBSE), 4(10), 35–44.
Anwar, R. J., Purbawati, D., & Saryadi. (2018). Pengaruh kepemilikan pemerintah, leverage, profitabilitas, dan pertumbuhan perusahaan terhadap kebijakan dividen (Studi Pada Perusahaan Bumn Yang Terdaftar Di Bursa Efek Indonesia Periode 2012-2016). Jurnal Ilmu Administrasi Bisnis, 7(2), 14–23.
Bangun, N., Yuniarwati, Y., & Santioso, L. (2018). Pengaruh Corporate Governance, Profitability, Dan Foreign Ownership Terhadap Dividend Policy Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2014-2016. Jurnal Akuntansi, 22(2), 279–288. https://doi.org/10.24912/ja.v22i2.353
Bataineh, H. (2021). The impact of ownership structure on dividend policy of listed firms in Jordan. Cogent Business and Management, 8(1). https://doi.org/10.1080/23311975.2020.1863175
Brigham, E. F., & Houston, J. F. (2018). Dasar-dasar Manajemen Keuangan (11th ed.). Salemba Empat.
Darmawan, A., Pratama, B. C., & Rismawati, C. D. (2021). Anteseden Kebijakan Dividen Sektor Keuangan yang Terdaftar di BEI. Jurnal Ilmiah Akuntansi Dan Keuangan, 10(1), 20–33. https://doi.org/10.32639/jiak.v10i1.740
Endang, M. W., Suhadak, S., Saifi, M., & Firdausi, N. (2020). The Effect of Ownership Structure and Leverage Towards Dividend Policy and Corporate Values. Journal of Public Administration Studies, 5(01), 28–31. https://doi.org/10.21776/ub.jpas.2021.006.01.5
Ghozali, I. (2018). Aplikasi analisis multivariate dengan program IBM SPSS 25 Edisi 9. Badan Penerbit Universitas Diponegoro.
Kathuo, S. M., Oluoch, O., & Njeru, A. (2020). Influence of Financial Performance and Financial Leverage on Dividend Payout. International Journal of Accounting, Finance and Risk Management, 5(3), 167–173. https://doi.org/10.11648/j.ijafrm.20200503.16
Krisardiyansah, K., & Amanah, L. (2020). Pengaruh Free Cash Flow, Profitabilitas, Likuiditas Dan Leverage Terhadap Kebijakan Dividen. Jurnal Ilmu Dan, 9(7), 132–149. https://doi.org/10.31258/jc.1.1.132-149
Perwira, A. A. G. A. N., & Wiksuana, I. G. B. (2018). Pengaruh profitabilitas dan pertumbuhan aset terhadap kebijakan dividen dan nilai perusahaan. E-Jurnal Manajemen Unud, 7(7), 3767–3796. https://doi.org/https://doi.org/10.24843/EJMUNUD.2018.v7.i07.p12
Purwaningsih, E. (2019). Struktur Kepemilikan Memoderasi Pengaruh Profitabilitas Terhadap Kebijakan Dividen. Jurnal Ekonomi Universitas Esa Unggul, 10, 111–120.
Purwaningsih, E., & Lestari, K. (2021). Pengaruh Struktur Kepemilikan, Struktur Modal dan Pertumbuhan Aset Terhadap Kebijakan Dividen. Sikap, 6(1), 108–124.
Shafai, N. A., Nassir, A. M., Kamarudin, F., Rahim, N. A., & Ahmad, N. H. (2019). Dynamic panel model of dividend policies: Malaysian perspective. Contemporary Economics, 13(3), 239–252. https://doi.org/10.5709/ce.1897-9254.310
Utami, E. S., & Gumanti, T. A. (2019). Analysis Of Cash Dividend Policy In Indonesia Stock Exchange. Investment Management and Financial Innovations, 16(3), 97–105. https://doi.org/10.21511/imfi.16(3).2019.10
Widyasti, I. G. A. V., & Putri, I. G. A. M. A. D. (2021). The Effect of Profitability , Liquidity , Leverage , Free Cash Flow , and Good Corporate Governance on Dividend Policies ( Empirical Study on Manufacturing Companies Listed in Indonesia Stock Exchange 2017-2019 ). American Journal of Humanities and Social Sciences Research (AJHSSR), 5(1), 269–278.
Zainuddin, Z., & Mananohas, O. A. (2020). The Effect of Debt Policies, Profitability, Managerial Ownership Structure, and Liquidity on Dividend Policy. The Indonesian Journal of Accounting Research, 23(03), 411–428. https://doi.org/10.33312/ijar.483
Zulkifli, Z., & Latifah, L. (2021). Pengaruh Corporate Governance, Ukuran Perusahaan, Profitabilitas Dan Pertumbuhan Perusahaan Terhadap Kebijakan Dividen. Jurnal Riset Manajemen Sekolah Tinggi Ilmu Ekonomi Widya Wiwaha Program Magister Manajemen, 8(1), 17–27. https://doi.org/10.32477/jrm.v8i1.244
