Pengaruh tingkat profitabilitas, keputusan investasi dan keputusan pendanaan terhadap return saham dengan kebijakan dividen sebagai pemoderasi pada perusahaan sektor manufaktur di negara ASEAN-5 tahun 2014-2021 = The influence of profitability, investment decisions and funding decisions on stock returns with dividend policy as moderation in manufacturing sector companies in ASEAN-5 countries 2014–2022

Citra, Ondo (2023) Pengaruh tingkat profitabilitas, keputusan investasi dan keputusan pendanaan terhadap return saham dengan kebijakan dividen sebagai pemoderasi pada perusahaan sektor manufaktur di negara ASEAN-5 tahun 2014-2021 = The influence of profitability, investment decisions and funding decisions on stock returns with dividend policy as moderation in manufacturing sector companies in ASEAN-5 countries 2014–2022. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Penelitian ini bertujuan untuk mengetahui peran kebijakan dividen dalam memoderasi tingkat profitabilitas, keputusan investasi dan keputusan pendanaan terhadap return saham pada perusahaan sektor manufaktur di negara ASEAN-5 (Filipina, Indonesia, Malaysia, Singapura dan Thailand) yang terdaftar di S&P Capital IQ pada tahun 2014-2021. Penelitian ini menggunakan metode analisis regresi data panel. Sampel yang digunakan berjumlah 126 perusahaan dengan total 1008 data observasi. Hasil penelitian menunjukkan bahwa Return Saham dipengaruhi secara positif dan signifikan oleh Tingkat Profitabilitas; Return Saham tidak dipengaruhi secara signifikan oleh Keputusan Investasi; Return Saham tidak dipengaruhi secara signifikan oleh Keputusan Pendanaan; Return Saham dipengaruhi secara positif dan signifikan oleh Kebijakan Dividen; Kebijakan Dividen sebagai variabel pemoderasi mampu memoderasi (memperkuat) dalam hubungannya dengan Tingkat Profitabilitas terhadap Return Saham; Kebijakan Dividen sebagai variabel pemoderasi tidak mampu memoderasi (memperlemah) dalam hubungannya dengan Keputusan Investasi terhadap Return Saham; Kebijakan Dividen sebagai variabel pemoderasi mampu memoderasi (memperlemah) dalam hubungannya dengan Keputusan Pendanaan terhadap Return Saham. Penelitian ini dapat digunakan sebagai referensi dalam penerapan pengambilan keputusan bagi perusahaan serta bagi para akademisi untuk menjadi referensi dan sumber pengetahuan. / This study aims to determine the role of dividend policy in moderating profitability, investment decisions and funding decisions on stock returns in manufacturing sector companies in ASEAN-5 countries (Philippines, Indonesia, Malaysia, Singapore and Thailand) listed on S&P Capital IQ in 2014-2021. This study used panel data regression analysis method. The sample used amounted to 126 companies with a total of 1008 observational data. The results show that Stock Return is positively and significantly influenced by the Level of Profitability; Stock Return is not significantly affected by Investment Decisions; Stock Return is not significantly affected by Funding Decisions; Stock Return is positively and significantly affected by Dividend Policy; Dividend Policy as a moderating variable is able to moderate (strengthen) in relation to the Level of Profitability to Stock Return; Dividend Policy as a moderating variable is not able to moderate (weaken) in relation to Investment Decisions on Stock Returns; Dividend Policy as a moderating variable is able to moderate (weaken) in relation to Funding Decisions on Stock Returns. This research can be used as a reference in the application of decision making for companies and for academics to become a reference and source of knowledge.

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