ANALISIS PENGARUH ROE, DER, MANAGEMENT OWNERSHIP, FREE CASH FLOW, dan SIZE TERHADAP DIVIDEND PAYOUT RATIO PADA PERUSAHAAN – PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) TAHUN 2006 - 2009

Abstract

The Objective of this research is to analyse the influence of Return on Equity (ROE), Debt to Equity Ratio (DER), Management Ownership (MO), Free Cash Flow (FCF), and Size toward Dividend Payout Ratio (DPR) in manufacture companies that listed in Indonesia Stock Exchange (ISX) from 2006 to 2009. Sample of this research consist of 11 companies with 44 total observations. But after reduced the outliers, sample of research became 31 observations. Purposive sampling method were used as samples determining method. The observations data are taken from Indonesia Capital Market Directory 2010 and audited Financial Reports 2009. Analysys method by using multiple regression analysis with ordinary least square used t statistic to checked partial regression coeficient and F statistic to checked simultaneous effect. And also all variables had checked with Normality test, Multikolinerity test, Heteroskedastisity test and Autocorrelation test. The result shows that there was no deviation of classical assumption test, means this observations were worthed. The result of t test are Return on Equity (ROE), Debt to Equity Ratio (DER), and Management Ownership (MO) had been posive and significantly fluent toward Dividend Payout Ratio (DPR), as for Free Cash Flow (FCF), and Size had been negative and significantly fluent toward Dividend Payout Ratio (DPR). The result of f test is all variables positive and significantly fluent toward Dividend Payout Ratio (DPR). And the result of regression estimation of all independent variables is ability predicted 58,4% of Dividend Payout Ratio (DPR), the remains were affected by another factors outside of this research.