ANALISIS PENGARUH INSIDER OWNERSHIP, DEBT TO EQUITY RATIO, RETURN ON EQUITY, FIRM SIZE DAN INVESTMENT OF OPPORTUNITY SET TERHADAP DIVIDEND PAYOUT RATIO (Studi Kasus pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia Tahun 2007-2010)

Abstract

This research was conducted to examine the influence of the company's financial performance through insider ownership, debt to equity ratio, return on equity, firm size and investment of opportunity set of dividend payout ratio manufactur companies listed in Indonesia Stock Exchange (IDX) in the period 2007 to 2012. Problems of this research is that the contradiction between theory and facts about the effect of insider ownership, debt to equity ratio, return on equity, firm size and investment of opportunity set during the observation period in 2007-2012. This research uses secondary data, of the manufacturing companies listed which listed on BEI with periods 2007-2012. Research sample of 12 manufacturing companies, where the method used is purposive sampling, is a sampling method that takes an object with the specified criteria. Analysis of the data used to analyze the factors that for testing the partial regression coefficient and f-statistic to test the effect simultaneously at level of significance 5% The results of this research finds two independents variable have a significant effect on firm value and three independents variable have not significant effect on firm value. Two independents variable have significantly effect on dividend payout ratio in this research : (i) insider ownership is that of positive significant, (ii) return on equity is that of negative significant. Three independents variable have not significantly effect on dividend payout ratio in this research : (i) debt to equity ratio, (ii) firm size, (iii) investment of opportunity set. All of this variable significant effected the value simultaneously, with the sum of the effect was 25%.