Text
ANALISIS FAKTOR-FAKTOR YANG PEMPENGARUHI DIVIDENT PAYOUT RATIO PADA PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BEI TAHUN 2008-2011
T h e d iv id en d p o lic y is t h e c o m p a n y p o lic y w h ic h d et erm in es w h et h er t h e c o m p a n y p ro fit w h et h er c o m p a n y
p ro fit s w ill b e rest ra in ed o r d ist rib u t ed t o t h e sh a r eh o ld er s. I n d et erm in in g t h e c o m p a n y p o lic y sev er a l fin a n c ia l fa c t o rs in flu en c e w h ic h is t h e fin a n c ia l ra t io . T h e fin a n c ia l ra t io is a p p lied t o m ea s u r e t h e c o m p a n y ’s c o n d it io n in a c h iev in g t h e c o m p a n y o b jec t iv e w h ic h is p ro fit . T h is r es ea rc h is m ea n t t o e x a m in e t h e in flu e n c e o f c o m p a n y fin a n c ia l p erfo rm a n c e t h ro u g h s ev er a l fin a n c ia l ra t io s b o t h sim u lt a n eo u sly a n d p a rt ia lly t o t h e d iv id en d p o lic y w h ic h is m ea su red b y t h e D iv id en d P a y o u t R a t io ( D P R ) at t h e n o n - fin a n c ia l c o m p a n ie w h ic h a re list ed in t h e I n d o n e sia S t o c k E x c h a n g e ( I D X ) in t h e p e r io d o f 2 0 0 8 - 2 0 1 1 . T h e fin a n c ia l r a t io w h ic h is c h o o s en b y t h e res ea rc h e r is E P S , R O A , C a sh R a t io , D E R a n d D P R t-1 . T h e sa m p les o f r es ea rc h a r e c o llec t ed b y a p p ly in g p u rp o siv e sa m p lin g in w h ic h t h e selec t io n o f sa m p les m em b e r a r e b a sed o n c e rt a in c rit eria . T h e m u lt ip le lin ea r reg re ssio n s a n a ly sis is u s ed b y a p p ly in g t h e F - t est a n d t - t est in t h is resea rc h . T h e r es u lt o f t h e resea rc h in d ic a t es t h a t t h e fiv e ra t io s w h ic h a r e E P S , R O A , C a sh R a t io , D E R a n d D P R t-1 a re sim u lt a n eo u sly h a v e sig n ific a n t in flu en c e t o t h e D P R , w h ile p a rt ia lly o n ly t h e R O A a n d t h e D P R t-1 v a ria b les w h ic h h a v e a sig n ific a n t in flu en c e t o t h e D P R . T h is re sea rc h is r esu lt ed in A d ju st e d R 2 a s m u c h a s 0 . 1 0 9 w h ic h m e a n s t h e D P R c a n b e e x p la in e d b y t h e w h o le in d ep en d en t v a ria b les a s m u c h a s 1 0 . 9 % a n d t h e r em a in in g s o f it is a s m u c h a s 8 9 .1 % is ex p la in ed b y o t h er v a ria t io n o f in d ep e n d e n t v a ria b les.
K e y w o r d s : EPS, ROA , C a sh R a t io , D E R , D P R t-1 , DPR .
Tidak ada salinan data
Tidak tersedia versi lain