Main Article Content

Abstract

This research aims to determine the simultaneous and partial effect of profitability, liquidity, investment opportunity set and firm size on firm size in Manufacturing Companies on the Indonesia Stock Exchange in 2015-2019. The research method used is quantitative analysis method. The data collection method in this research is the documentation method. The population in this research are manufacturing companies listed on the Indonesia Stock Exchange in 2015-2019. Purposive sampling method was used in taking research samples. The variables of this research consist of four independent variables, namely X1, Profitability as a proxy for Return On Assets (ROA); X2, Liquidity proxied by Current Ratio (CR; X3, Investment Opportunity Set (IOS) proxied by Market to Book Value of Equity (MBVE) and X4, Company Size (size) as proxied by Ln Net Total Assets Dividend Policy Variable which is proxied by the Dividend Payout Ratio (DPR) as the dependent variable Y. The conclusion in this research is that simultaneously ROA (X1), CR (X2), IOS (X3) and Size (X4) have a significant effect on DPR (Y). only one independent variable, namely CR has a positive and significant effect on DPR, while the ROA, IOS, Size variables have no significant effect on DPR (Y). The coefficient of determination (R2) is 18.5%, which means ROA, CR, IOS, and Size is able to explain the DPR variable by 18.5%, while the remaining 81.5% is explained by other variables other than the variables of this research.

Keywords

Profitability; Liquidity; IOS; Firm Size; Dividend Policy

Article Details

How to Cite
Utami, W. B. (2021). The Effect of Profitability, Liquidity, Investment Opportunity Set, and Company Size on Dividend Policy. International Journal of Seocology, 2(03), 103–114. Retrieved from http://seocologi.com/index.php/seocology/article/view/32

References

  1. Aakers & Myers. (1997). Advertising Management. New Jersey: Prentice Hall.
  2. Brigham, E. F., & Houston, J. F. (2001). Manajemen Keuangan. Buku 1 edisi 8. Jakarta: Erlangga.
  3. Ferdinand, A. (2014). Pedoman Penelitian Untuk Penulisan Skripsi Tesis dan Disertasi Ilmu Manajemen: Metode Penelitian Manajemen: Semarang: Badan Penerbit Universitas Diponegoro.
  4. Ghozali, I. (2011). Aplikasi Analisis Multivariate Program SPSS. Cetakan V. Semarang: Badan Penerbit Universitas Diponogoro.
  5. Handayani, D. R., & Hadinugroho, B. (2009). Analisis Pengaruh Kepemilikan Manajerial, Kebijakan Hutang, ROA, Ukuran Perusahaan terhadap Kebijakan Dividen. Jurnal Fokus Manajerial, 7(1), 64-71.
  6. Hidayat, W. A., Danial, R. D. M., & Jhoansyah, D. (2019). Pengaruh Investment Opportunity Set dan Profitabilitas terhadap Kebijakan Dividend. Journal of Management and Bussines (JOMB), 1(1), 48-58.
  7. Husnan, S. (2000). Manajemen Keuangan Teori dan Penerapan (keputusan jangka panjang). Yogyakarta: BPFE, 12, 40806.
  8. Idawati, I. A. A., & Sudiartha, G. M. (2014). Pengaruh Profitabilitas, Likuiditas, Ukuran Perusahaanterhadap Kebijakan Deviden Perusahaan Manufaktur di BEI (Doctoral dissertation, Udayana University).
  9. Mardiyanto, H. (2009). Intisari Manajemen Keuangan, Jakarta: PT. Gramedia Widiyasarana Indonesia (GRASINDO).
  10. Nuryanto, R., Tho'in, M., & Wardani, H. K. (2014). Rasio Likuiditas, Rasio Solvabilitas, Rasio Rentabilitas Koperasi Jasa Keuangan Syariah Di Jawa Tengah. Jurnal Akuntansi dan Pajak, 15(01).
  11. Sari, E. S. (2014). Pengaruh ukuran perusahaan, likuiditas, profitabilitas, pertumbuhan perusahaan, dan kepemilikan institusional terhadap kebijakan devidend payout ratio (DPR). EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi Dan Bisnis, 2(2).
  12. Sartono, A. (2011). Manajemen Keuangan Suatu Teori dan Konsep. Edisi ketiga, Erlangga, Jakarta.
  13. Subramanyam, K. R., & Wild, J. J. (2010). Analisis Laporan Keuangan Buku 1 Edisi 10. Penerbit Salemba Empat. Jakarta.
  14. Tho'in, M. (2019). Profitability of Islamic Commercial Banks in Indonesia. IQTISHADIA: Jurnal Ekonomi dan Perbankan Syariah, 6(2), 89-99.
  15. Widyawati, R. D. (2018). Pengaruh Kesempatan Investasi, Profitabilitas, dan Likuiditas Terhadap Kebijakan Dividen Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia. Jurnal Manajemen Bisnis Indonesia, 7(1).
  16. Zulaecha, H. E., & Miftah, D. (2019). Pengaruh Profitabilitas, Investment Opportunity Set (IOS), Likuiditas dan Kebijakan Dividen (Studi pada Perusahaan Sektor Consumer Goods di Bursa Efek Indonesia). JMB: Jurnal Manajemen dan Bisnis, 7(1).
  17. www.idx.co.id