ANALISIS PENGARUH RETURN ON ASSET, CURRENT RATIO DAN DEBT EQUITY RATIO TERHADAP NILAI PERUSAHAAN DENGAN DIVIDEND PAYOUT RATIO SEBAGAI VARIABEL INTERVENING Studi Pada Perusahaan Manufaktur di BEI 2012-2015

Abstract

This study is performed to examine the effect of return on asset, current ratio, and debt to equity ratio toward dividend payout ratio to impact firm value. The objective of this study is to scale and analyze the effect of the company financial ratios performance (current ratio, and debt to equity ratio) toward dividend payout ratio to impact firm value in manufacturing industry over period 2012-2015. Sampling technique used here is pusposive sampling. The data is obtained based on Indonesian Capital Market Directory (ICMD). It is gained sample amount of 15 data. The analysis technique used here is multiple regression with the least square difference 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%. In addition, classical assumption is also performed including normality test, multicolinearity test, heteroscedasticity test and autocorrelation test. During 2012-2015 period show as deviation has not founded this indicate clasiccal assumption that the available data has fulfill the condition to use multi linier regression model. Empirical evidence show return on asset, and debt to equity ratio to have influence toward dividend payout ratio at level of significance less than 5%, return on asset, debt to equity ratio and dividend payout ratio have influence toward firm value at level of significance less than 5%.