The impact of profitability and leverage toward dividend policy on state-owned enterprises listed on the Indonesia Stock Exchange

Rusli, Febe Epichoregia (2023) The impact of profitability and leverage toward dividend policy on state-owned enterprises listed on the Indonesia Stock Exchange. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Funding is one of the important activities in a company. Therefore, companies, especially state-owned enterprises, aim to augment their profits in order to enhance their appeal to prospective shareholders and investors. The objective of this research is to analyze the impact of profitability and leverage toward dividend policy on state-owned enterprises listed at Indonesia Stock Exchange (IDX) during the period 2016-2022. The population of this research is state-owned enterprises listed on the Indonesia Stock Exchange during 2016-2022. Further, with the employed purposive sampling and determined criteria, 49 companies are chosen as samples with a total of 32 observations. The data analysis method applied is multiple linear regression which processed through SPSS 25. The result of this research shows that profitability measured by return on assets has significant positive impact toward dividend policy partially and leverage measured by debt-to-asset ratio has an insignificant impact toward dividend policy partially. On the other hand, profitability and leverage have significant simultaneous impact toward dividend policy / Pendanaan merupakan salah satu kegiatan penting dalam suatu perusahaan. Oleh karena itu, perusahaan, khususnya Badan Usaha Milik Negara, bertujuan untuk meningkatkan keuntungannya guna meningkatkan daya tariknya di mata calon pemegang saham dan investor. Tujuan dari penelitian ini adalah untuk menganalisis pengaruh profitabilitas dan leverage terhadap kebijakan dividen pada perusahaan milik negara yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2016-2022. Populasi penelitian ini adalah Badan Usaha Milik Negara yang terdaftar di Bursa Efek Indonesia selama tahun 2016-2022. Selanjutnya dengan menggunakan purposive sampling dan kriteria yang ditentukan, maka terpilihlah 49 perusahaan sebagai sampel dengan total 32 observasi. Metode analisis data yang digunakan adalah regresi linier berganda yang diolah melalui SPSS 25. Hasil penelitian menunjukkan bahwa profitabilitas yang diukur dengan return on assets mempunyai pengaruh positif signifikan terhadap kebijakan dividen secara parsial dan leverage yang diukur dengan debt-to-asset ratio mempunyai pengaruh yang tidak signifikan. terhadap kebijakan dividen secara parsial. Di samping itu, profitabilitas dan leverage secara simultan berpengaruh signifikan terhadap kebijakan dividen

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