The impact of profitability, liquidity, leverage, and firm size toward dividend policy in manufacturing companies listed on the Indonesia Stock Exchange

Susanto, Edi (2024) The impact of profitability, liquidity, leverage, and firm size toward dividend policy in manufacturing companies listed on the Indonesia Stock Exchange. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Investors are focusing their attention on Indonesia's financial markets in the hopes of achieving a profit or rate of return on their investments in the form of dividends or capital gains. The returns on dividends are expected to be either considerable or stable by investors. The objective of this research is to analyze the impact of profitability, liquidity, leverage, and firm size toward dividend policy in manufacturing companies especially consumer goods industry listed at Indonesia Stock Exchange (IDX) during the period 2019-2021. The population of this research is manufacturing companies listed in Indonesia Stock Exchange during 2019-2021. Further, with the employed purposive sampling and determined criteria, 27 companies are chosen as the samples. The data analysis method applied multiple linear regression which processed through SPSS. The result of this research shows that firm size has significant impact toward dividend policy partially, while return on asset, return on equity, liquidity, and leverage have insignificant impact toward dividend policy. On the other hand, F-test shows that the regression model is valid. / Para investor memusatkan perhatian mereka pada pasar keuangan Indonesia dengan harapan untuk mendapatkan keuntungan atau tingkat pengembalian atas investasi mereka dalam bentuk dividen atau capital gain. Tingkat pengembalian dividen diharapkan cukup besar atau stabil oleh para investor. Penelitian ini bertujuan untuk menganalisis pengaruh return on asset, return on equity, likuiditas, leverage, dan ukuran perusahaan terhadap kebijakan dividen pada perusahaan manufaktur khususnya industri barang konsumsi yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2019-2021. Populasi penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama tahun 2019-2021. Selanjutnya, dengan menggunakan metode purposive sampling dan kriteria yang telah ditentukan, 27 perusahaan terpilih sebagai sampel. Metode analisis data yang digunakan adalah regresi linier berganda yang diolah melalui SPSS. Hasil penelitian ini menunjukkan bahwa ukuran perusahaan berpengaruh signifikan terhadap kebijakan dividen secara parsial, sedangkan return on asset, return on equity, likuiditas, dan leverage berpengaruh tidak signifikan terhadap kebijakan dividen. Di sisi lain, uji F menunjukkan bahwa model regresi yang digunakan adalah valid.

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