ANALISIS PENGARUH CASH RATIO, DEBT TO TOTAL ASSETS RATIO, DEBT EQUITY RATIO, RETURN ON ASSETS, DAN NET PROFIT MARGIN TERHADAP DIVIDEND PAYOUT RATIO Pada Perusahaan Otomotif yang Listing di Bursa Efek Indonesia Periode 2007-2011

Abstract

This research was conducted to examine the effect of variable cash ratio (CR), debt to total assets ratio (DAR), debt to equity ratio (DER), return on assets (ROA), and net profit margin (NPM) of the dividend payout ratio (DPR ) on the Indonesian automotive companies listed on the Stock Exchange the period 2007-2011. The sampling technique used was purposive sampling with criteria (1) Companies whose shares are actively traded on the Indonesia Stock Exchange, (2) the Company is always present per Desember 2007-2011 financial statements and (3) the Company's dividend continuously per Desember 2007-2011. Data obtained by the publication of the Indonesian Capital Market Directory (ICMD 2012). Obtained total sample of 10 companies from 12 companies listed on the Stock Exchange. The analysis technique used is multiple regression equation least squares and test hypotheses using t-statistics for testing the partial regression coefficients as well as covering classical assumption test normality test, multicollinearity, heteroscedasticity test and autocorrelation test. From the results of the analysis showed that the variables CR, DAR, DER and partially ROA is not significant to DPR at the level of significance of more than 5%. CR and ROA have positive're DAR and DER negatively. NPM variables proved to have a positive and significant impact on the DPR. While jointly (CR, DAR, DER, ROA, and NPM) proved a significant influence on DPR at the level of less than 5%. Predictive ability of the five variables to Parliament by 58.90%, as indicated by the amount of the adjusted R-square of 58.90% while the remaining 40.80% is influenced by other factors that are not included in this research model