Analisis Pengaruh ROE,DER, Growth, Firm Size dan Risk terhadap Dividend Payout Ratio pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2010-2014

Abstract

This study was conducted to examine the effect of return on equity, debt to equity ratio, growth, firmsize, and risk in dividend policy (dividend payout ratio). The purpose of this study to know how big the influence return on equity, debt to equity ratio, growth,firmsize and risk on dividend policy (dividend payout ratio) in a company listed on the Indonesia Stock Exchange. The population in this study 141manufacture companies that listed on the Indonesia Stock Exchange in 2010-2014. Sampling technique used is purposive sampling with criteria: (1) the company that manufactures industrial sectors listed in Indonesia Stock Exchange during the period 2010-2014, and (2) the company continually share their dividend and publish the financial data relating to measureof variabels each period 2010-2014. The data is obtained from Indonesian Capital Market Directory (ICMD 2010-2014) and Annual Report 2010-2014.This sample gained amount of 46 companies from 141 companies those are listed in Indonesia Stock Exchange. The analysis technique used multiple regression and hypothesis test using t-statistic to examine partial regression coefficient and F-statistic to examine the mean of mutual effect with level of significance 5%. Before tasted with a multiple linear regression test, testified with classical assumptions test first. The results showed that distortion there in classical assumption. Those things indicate the data which available in this study has been qualified for use ini linear regression model. The resukt regression equation is adalah DPR = 4.289 + 0.219 ROE - 1.175 DER + 0.231 FIRMSIZE -4.155 GROWTH – 1.698 RISK. From the analysis shows that in partial firm size positive and significantly on DPR. This research also found that the variabel growth a significant negative influence DPR. The other variabel in the research the return on equity, debt to equity ratio and risk did not effect on DPR.The results of regression estimation show the ability of model prediction is 15% while the remaining 85% influenced by other factors outside the model that has not been included in this study.