FAKTOR-FAKTOR YANG MEMPENGARUHI KEBIJAKAN DIVIDEN BADAN USAHA-BADAN USAHA SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BEI PERIODE 2010-2014
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Keywords:
Dividend Policy, Profitability, Debt Policy, Growth
Abstract
Abstract This study aims to analyze the factors that influence dividend policy. Variable used in this research is firm size (SIZE), profitability (ROA), debt policy (DER), growth (GROWTH), and liquidity (CR). This study used sample Firms Sector Consumer Good Industry which distribute dividend annually during 2010- 2014 period are listed in the Indonesia Stock Exchange. The number of observations used in this study were 60 observations. The result showed that the Consumer Good Industry Sector, profitability and debt policy variable significant positive effect on dividend policy while, growth variable significant negative effect on dividend policy. However, firm size, and liquidity variable negative not significant effect on dividend policy.
Keyword: Dividend Policy, Profitability, Debt Policy, Growth.
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References
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Damodaran, A., 2001, Corporate Finance Theory and Practice, Second Edition, John Wiley & Sons Inc, New York.
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www.ksei.co.id
www.idx.co.id
Ang, R., 1997, Buku Pintar Pasar Modal Indonesia, Edisi 1, Mediasoft Indonesia.
Astuti, D., 2004, Manajemen Keuangan Perusahaan, Jakarta : Ghalia Indonesia.
Bahri, S., dan F. Zamzam, 2014, Metode Penelitian Kuantitatif Berbasis SEMAMOS, Deepublish Publisher.
Brealey, Richard A., dan S.C. Myers, 2003, Principles of Corporate Finance, International edition, Boston MA: Mc Graw Hill.
Brigham, Eugene F., dan M.C. Ehrhardt, 2005, Financial Management Theory and Practice, International Student Edition, South Western.
Brigham, Eugene F., dan M.C. Ehrhardt, 2008, Financial Management: Theory & Practice, Twelfth Edition, Thomson Learning. Inc.
Connolly, Michael B., 2006, International Business Finance, British Library Cataloguing in Publication Data.
Copeland, Thomas E., dan J.F. Weston, 1992, Financial Theory and Corporate Policy, Third Edition, Addison-Wesley Publishing Company.
Damodaran, A., 2001, Corporate Finance Theory and Practice, Second Edition, John Wiley & Sons Inc, New York.
Deshmukh, S., 2005, The Effect of Asymetric Information on Dividend Policy, Quarterly Journal of Business and Economics, Vol 44. No 1 dan 2.
Fama, E.F., dan K.R. French, 2001, Disappearing Dividend: Changing Firm Characteristics or Lower Propensity to Pay?,Journal of Financial Economics, Vol.60: 3-43.
Gill, A., et al., 2010, Determinant of Dividend Payout Ratios : Evidence from United States, The Open Business Journal,3: 8-14.
Gitman, Lawrence J., 2009, Principle of Managerial Finance, Twelfth Edition, Pearson Education, UK.
Gitman, Lawrence J., dan C.J. Zutter, 2012, Principle of Managerial Finance, 13th Edition, Pearson Education, UK.
Gordon, Myron J., dan Lintner, 1963, Optimal Investment and Financing Policy, Journal of Finance. Vol. 18, No. 2 (May, 1963) p. 264- 272.
Greene, W., 2003, Econometric Analysis, 5th Edition, Upper Saddle River: Prentice-Hall
Gujarati, Damodar N., 1978, Ekonometri Dasar, Erlangga Jakarta.
Gujarati, Damodar N., 2004, Basic Econometrics, 4th Edition, McGraw Hill International.
Irawati, S., 2006, Manajemen Keuangan, Pustaka: Bandung.
Juhandi, N., et al., 2013, The Effects of Internal Factors and Stock Ownership Structure on Dividend Policy on Company’s Value, International Journal of Business and Management Invention (IJBMI), Volume 2 Issue 11, November 2011, pp.06-18.
Latiefasari, Hani D., dan Chabachib, 2011, Analisis Faktor-Faktor Yang Mempengaruhi Kebijakan Deviden (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI Periode 2005-2009), Skripsi, Universitas Diponegoro.
Leon, Farah M., dan P.M. Putra, 2014, The Determinant Factor of Dividend Policy at Non Finance Listed Companies, International Journal of Engineering,Business and Enterprise Applications (IJEBEA), pp.22-26.
Modigliani, F., dan M.H. Miller, 1963, Corporate income taxes and the cost of capital: A correction, American Economic Review 53, 433–443
Murhadi, Werner R., dan L.I. Wijaya, 2011, Studi Pengaruh Good Corporate Governance, Analyst Coverage, dan Tahapan Daur Hidup Terhadap Kebijakan Deviden, Jurnal Manajemen & Bisnis, Vol. 10, No. 1, edisi Maret 2011, p.111-126, Terakreditasi DIKTI.
Puspita, F., 2009, Studi pada Perusahaan yang Terdaftar di Bursa Efek Indonesia Periode 2005-2007: Analisis Faktor-Faktor Yang Mempengaruhi Kebijakan Dividend Payout Ratio, Thesis, Universitas Diponegoro.
Riyanto, B., 1989, Dasar-Dasar Pembelanjaan Perusahaan, Edisi ke 13, Penerbit Gadjah Mada Yogyakarta 1989.
Riyanto, B., 2000, Dasar-Dasar Pembelanjaan Perusahaan, Edisi keempat, Yogyakarta, BPFE.
Ross, S., et al., 2005, Corporate Finance, Seventh Edition, Mc Graw Hill, Singapore.
Sartono, A., 1990, Manajemen Keuangan, Teori dan Aplikasi, Edisi ke 1, Yogyakarta: BPFE
Sartono, A., 1996, Manajemen Keuangan, Teori dan Aplikasi, Edisi Ketiga, Yogyakarta: BPFE.
Sartono, A., 2001, Manajemen Keuangan, Teori dan Aplikasi, Edisi Keempat, Yogyakarta: BPFE.
Suharli, M., 2007, Pengaruh Profitability dan Investment Opportunity Setterhadap Kebijakan Dividen Tunai dengan Likuiditas sebagai Variabel Penguat, Jurnal Ekonomi Akutansi, Universitas Kristen Petra.
Sumiadji, 2011, Analisis Variabel Keuangan Yang Mempengaruhi Kebijakan Deviden, Jurnal Dinamika Akutansi, Vol. 3, No. 2, September 2011, p. 129-138.
Sundjaja, Ridwan S., dan I. Barlian, 2003, Manajemen Keuangan Satu, Litera Lintas Media, Edisi Kelima.
Sundjaja, Ridwan S., dan I. Barlian, 2003, Manajemen Keuangan Dua, Litera Lintas Media, Edisi Keempat.
Weston J. Fred, dan Eugene F. Brigham, 1993, Dasar-dasar Manajemen Keuangan, Jilid 2, Edisi Kesembilan, Terjemahan oleh Alfonsus Sirait, Jakarta: Erlangga
www.ksei.co.id
www.idx.co.id
Published
2017-09-01
Section
Bidang Manajemen (M)
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