ANALISIS PENGARUH CURRENT RATIO, TOTAL ASSET TURNOVER, RETURN ON ASSET DAN DEBT TO EQUITY RATIO TERHADAP DIVIDEND PAYOUT RATIO PADA PERUSAHAAN YANG LISTED DI BURSA EFEK INDONESIA TAHUN 2008 - 2011

Abstract

This research was conducted to examine the effect of Current Ratio (CR), Total Asset Turnover (TATO), Return on Assets (ROA) and the Debt to Equity Ratio (DER) to the Dividend Payout Ratio (DPR) on companies listed on the Indonesia Stock Exchange (IDX) for the period 2008 to 2011. The problem of this study is the contradiction between the theory and the fact that the amount of dividends declared during the period fluctuates widely. So researchers are interested in studying the effects of Current Ratio (CR), Total Asset Turnover (TATO), Return on Assets (ROA) and the Debt to Equity Ratio (DER) to the Dividend Payout Ratio (DPR) on companies listed on the Indonesia Stock Exchange (BEI) for the period 2008 to 2011. Samples from this study were as many as 13 companies in accordance with the criteria set in the period from 2008 to 2011. Data obtained from the Indonesian Capitan Market Directory (ICMD) and the Annual Report of the company. The analysis method used is multiple linear regression. The results showed that there were no irregularities in the classical assumption test, it indicates that the available data has been qualified for use multiple linear regression models. The resulting regression equation is DPR = 42,347 + 2,184 CR – 5,820 TATO + 3,151 ROA – 2,250 DER. From the results of the analysis showed that the variables CR and ROA variables have positive and significant impact on the House of Representatives. While TATO variables and variable DER significantly and negatively related to the Parliament. Simultaneously CR, TATO, ROA and DER significant effect on the House of Representatives. Regression estimation results indicate that the ability of the four independent variables of the House of Representatives by 54.5%, while the remaining 45.5% is influenced by - other factors beyond the model that has not been entered in the analysis