ANALISIS PENGARUH DEBT TO EQUITY RATIO, RETURN ON ASSET, CASH RATIO, FIRM SIZE DAN GROWTH OPPORTUNITY TERHADAP DIVIDEND PAYOUT RATIO (Studi Pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2012-2016)

Abstract

This research was conducted to examine the effect of Debt to Equity Ratio (DER), Current Ratio (CR), Return On Asset (ROA), Firm Size and Growth Opportunity to the Deviden Payout Ratio (DPR) on companies listed on Bursa Efek Indonesia (BEI) for the period 2012 to 2016. In this research there are 33 companies used as samples based on the sampling technique used is Purposive sampling. The data used are sourced from the annual financial reports on Sahamok and IDX which are downloaded from the website www.idx.co.id. The analysis technique used in this research is multiple regression analysis. The results showed that the DER and CR have no significant effect on the Dividend Payout Ratio. While the ROA has a significant effect on the Dividend Payout Ratio with a positive direction. Firm size has a significant effect on the Dividend Payout Ratio with a positive direction. Meanwhile, the growth opportunity has a significant effect on the Dividend Payout Ratio with the negative direction. Based on a statistical analysis of significance of F values obtained 0,000 (less than 0.05), so it can be concluded that the variables DER, CR, ROA, firm size and growth opportunity have a significant influence on DPR. From Adjusted R Square value of 0.603 indicates that there are independent variables in the model can explain the variation the DPR by 60,3%, while 39,7% variation explained by the Dividend Payout Ratio of other variables outside the model.