PENGARUH PROFITABILITAS, LIKUIDITAS, TINGKAT PERTUMBUHAN PERUSAHAAN DAN LEVERAGE TERHADAP KEBIJAKAN DIVIDEN

ABSTRAKPenelitian ini bertujuan untuk menguji pengaruh profitabilitas dan ukuran perusahaan terhadap nilai perusahaan dengan kebijakan dividen sebagai variabel mediasi pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI). Data yang digunakan dalam penelitian ini adalah data sekunder. Populasi yang digunakan adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2016-2018. Sampel penelitian sebanyak 19 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI). Teknik pengumpulan data menggunakan metode purposive sampling. Analisis data menggunakan uji asumsi klasik, analisis regresi linier berganda, analisis jalur. Hasil penelitian menunjukkan bahwa profitabilitas berpengaruh positif signifikan terhadap kebijakan dividen. Ukuran perusahaan berpengaruh positif signifikan terhadap kebijakan dividen. Kebijakan dividen berpengaruh positif signifikan terhadap nilai perusahaan. Profitabilitas berpengaruh positif signifikan terhadap nilai perusahaan. Ukuran perusahaan berpengaruh positif signifikan terhadap nilai perusahaan. Kata kunci: profitabilitas, ukuran perusahaan, kebijakan dividen, nilai perusahaan ABSTRACTThis study aims to examine the effect of profitability and company size on firm value with dividend policy as a mediating variable in manufacturing companies listed on the Indonesia Stock Exchange (BEI). The data used in this research is secondary data. The population used is manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period of 2016-2018. The research sample of 19 manufacturing companies listed on the Indonesia Stock Exchange (IDX). Data collection techniques using purposive sampling method. Data analysis using the classical assumption test, multiple linear regression analysis, path analysis. The results showed that profitability had a significant positive effect on dividend policy. The size of the company has a significant positive effect on dividend policy. Dividend policy has a significant positive effect on firm value. Profitability has a significant positive effect on firm value. Company size has a significant positive effect on firm value. Keywords: profitability, company size, dividend policy, company value

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PENGARUH INTELLECTUAL CAPITAL TERHADAP KINERJA KEUANGAN PERUSAHAAN PUBLIK DI INDONESIA (Studi Empiris Pada Perusahaan Manufaktur di BEI 2012-2014)

Jurnal Riset Akuntansi Dan Bisnis Airlangga ◽

10.31093/jraba.v2i1.23 ◽

2017 ◽

Vol 2 (1) ◽

Author(s):

Dianing Ratna Wijayani

Keyword(s):

Intellectual Capital ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Total Sample ◽

Multiple Linear Regression Analysis ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Return On Assets ◽

Return On Equity ◽

Positive Effect

The purpose of this research was to examine the effect of intellectual capital on Return On Assets, Earning Per Share and Return On Equity. The population of this research is manufacturing companies listed on the Stock Exchange the period 20122014, a total sample of companies amounted to 51 samples were taken by using purposive sampling method. The method of analysis in this research is multiple linear regression analysis. The results of this study indicate that intellectual capital significant positive effect on ROA. This condition occurs because if the human resource capacity the better, it is expected to produce profitability Return on Assets increased. Intellectual capital is significant positive effect on EPS. This condition occurs because when intellectual capital is getting better, the public trust in the company, the better, so that the products or services offered by the company is accepted by the community and increasing revenue. Intellectual capital is significant positive effect on ROE. This condition occurs because the intellectual capital increases, the company has been using its capital more effectively to improve human resources, so that the performance of employees to generate increasing profits. Keyword : Intellectual Capital, Financial Performance, Return on Assets, Earning Per Share and Return On Equity

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PENGARUH LIKUIDITAS, SOLVABILITAS DAN PERPUTARAN MODAL KERJA TERHADAP PROFITABILITAS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Jurnal Benefita ◽

10.22216/jbe.v3i2.3173 ◽

2018 ◽

Vol 3 (2) ◽

pp. 219

Author(s):

Suci Wahyuliza ◽

Nola Dewita

Keyword(s):

Stock Exchange ◽

Linear Regression Analysis ◽

Financial Statements ◽

Multiple Linear Regression Analysis ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Working Capital ◽

Normality Test ◽

Analysis Technique ◽

Positive Effect

This study aims to determine the effect of liquidity, solvency and working capital turnover on profitability at manufacturing companies listed on the Indonesia Stock Exchange. In this study, the sample used as many as 32 companies. The data used in the form of financial statements listed on the Indonesia Stock Exchange. The data analysis technique used multiple linear regression analysis after passing the classical assumption test consisting of normality test, multicollinearity test, autocorrelation test and heteroscedasticity test. The results prove that liquidity has a significant effect on profitability, solvency has no effect on profitability and turnover of working capital has a significant positive effect on profitability. Of the two influential variables, liquidity has a greater impact than the working capital turnover. Simultaneously liquidity, solvency and turnover of working capital have a significant effect on profitability. The value of R2 Adjusted in this study is 0.159 which means that 15.9% profitability can be influenced by liquidity, solvency and working capital turnover. While the remaining 84.1% influenced by other variables. Penelitian ini bertujuan untuk mengetahui pengaruh likuiditas, solvabilitas dan perputaran modal kerja terhadap profitabilitas pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Dalam penelitian ini, sampel yang digunakan sebanyak 32 perusahaan. Data yang digunakan berupa laporan keuangan yang terdaftar di Bursa Efek Indonesia. Teknik analisis data menggunakan analisis regresi linier berganda setelah melewati uji asumsi klasik yang terdiri dari uji normalitas, uji multikolinieritas, uji autokorelasi dan uji heteroskedastisitas. Hasil penelitian membuktikan bahwa likuiditas berpengaruh signifikan terhadap profitabilitas, solvabilitas tidak berpengaruh terhadap profitabilitas dan perputaran modal kerja berpengaruh positif signifikan terhadap profitabilitas. Dari kedua variable yang berpengaruh tersebut, likuiditas mempunyai pengaruh yang lebih besar dibandingkan dengan perputaran modal kerja. Secara simultan likuiditas, solvabilitas dan perputaran modal kerja berpengaruh signifikan terhadap profitabilitas. Nilai R2 Adjusted dalam penelitian ini sebesar 0.159 yang berarti bahwa 15.9% profitabilitas dapat dipengaruhi oleh likuiditas, solvabilitas dan perputaran modal kerja. Sedangkan sisanya 84.1% dipengaruhi oleh variabel-variabel lain.

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Determinan Nilai Perusahaan Manufaktur di Bursa Efek Indonesia

JRB-Jurnal Riset Bisnis ◽

10.35592/jrb.v3i2.1438 ◽

2020 ◽

Vol 3 (2) ◽

pp. 91-96

Author(s):

Irma Sari Permata ◽

Mulyadi

Keyword(s):

Regression Analysis ◽

Linear Regression ◽

Interest Rates ◽

Firm Value ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Positive Effect

The purpose of this study is to analyze the company’s micro factors such as liquidity (CR), solvency (DER) as well as macro factors, namely interest rates to firm value (Tobin’Q) so that they can assess the development of good company conditions. The companies studied were manufacturing companies listed on the Indonesia Stock Exchange in period of 2014 – 2018. The method of this research was explanatory research. Samples were taken by purposive sampling from a population of manufacturing companies that met the sample criteria. The analysis used is multiple linear regression analysis. The results showed that liquidity and dividends had a significant positive effect on firm value, while solvency did not support the hypothesis. Implications and suggestions are discussed in the article.

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Analisis Faktor yang mempengaruhi Kebijakan Dividen pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

Jurnal STEI Ekonomi ◽

10.36406/jemi.v26i2.224 ◽

2017 ◽

Vol 26 (2) ◽

pp. 202-216

Author(s):

Flourien Ch ◽

Zahratunnissa Ulya

Keyword(s):

Firm Size ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Secondary Data ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Causal Approach ◽

Total Observation ◽

Positive Effect

This study aims to determine the effect of liquidity position, leverage, profitability, and firm size against dividend policy. Dependent variable in this research is dividend policy measured by dividend payout ratio. Independent variables used are the position of liquidity, leverage, profitability, and company size. This research is an associative research with a causal approach. The population of this research is a manufacturing company listed in Indonesia Stock Exchange (BEI) in 2012 until 2014. Samples determined by purposive sampling method, with the number of samples of 28 manufacturing companies so that the total observation in this study as much as 84 observations. The data used in this research is secondary data. Data collection techniques using documentation method through IDX official website: www.idx.co.id.Metode data analysis used is multiple linear regression analysis with the help of software SPSS for Windows 22.Result research proves that the liquidity position does not affect the dividend policy on the company manufacturing listed on the Indonesia Stock Exchange (BEI) for the period 2012-2014. Profitability and firm size have a positive effect on dividend policy on manufacturing companies listed in Indonesia Stock Exchange (IDX) period 2012-2014, and leverage negatively affect dividend policy on manufacturing companies listed in Indonesia Stock Exchange (IDX) period 2012-2014.

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Determinants of Dividend Policy

Jurnal Ilmu Manajemen Advantage ◽

10.30741/adv.v4i1.592 ◽

2020 ◽

Vol 4 (1) ◽

pp. 1-5

Author(s):

Ratna Wijayanti Daniar Paramita

Keyword(s):

Cash Flow ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Free Cash Flow ◽

Manufacturing Companies ◽

Analysis Technique ◽

Positive Effect

This study aims to analyze the influence of Free Cash Flow, Profitability, Liquidity and Leverage on Dividend Policy. This research was conducted at manufacturing companies listed on the Indonesian Stock Exchange in the Consumer Goods Industry sector in the 2015-2018 period. The data analysis technique used multiple linear regression analysis. This study used purposive sampling technique to obtain samples according to the specified criteria. The number of companies based on the criteria in the study were 13 companies. The results of this research are free cash flow, liquidity, and leverage have no significant effect on dividend policy, while profitability has a significant positive effect on dividend policy.

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Pengaruh Kebijakan Dividen terhadap Laba di Masa Depan

E-Jurnal Akuntansi ◽

10.24843/eja.2020.v30.i09.p20 ◽

2020 ◽

Vol 30 (9) ◽

pp. 2428

Author(s):

I Wayan Gde Wahyu Purna Anggara

Keyword(s):

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Estimation Model ◽

Dividend Policies ◽

Stage Analysis ◽

Positive Effect

This study uses Lintner's (1956) dividend policy estimation model to examine the effect of earnings and earnings. Leverage on dividend policies. The population in this study were manufacturing companies listed on the Indonesia Stock Exchange between 2014 and 2016. Sampling was carried out by purposive sampling technique, which then took 52 sample companies with 139 observations for the first stage analysis and 46 sample companies with 79 observations. for analysis at the second stage. This study fulfills the classical assumption test which is required as a condition for conducting multiple linear regression analysis. The results of the analysis show that dividend policy has no positive effect on future earnings.This study uses Lintner's (1956) dividend policy estimation model to examine the effect of earnings and earnings. Leverage on dividend policies. The population in this study were manufacturing companies listed on the Indonesia Stock Exchange between 2014 and 2016. Sampling was carried out by purposive sampling technique, which then took 52 sample companies with 139 observations for the first stage analysis and 46 sample companies with 79 observations. for analysis at the second stage. This study fulfills the classical assumption test which is required as a condition for conducting multiple linear regression analysis. The results of the analysis show that dividend policy has no positive effect on future earnings. Keywords: Estimation Model; Dividend Policy; Profit; Leverage; Future Profits.

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PENGARUH PROFITABILITAS, LIKUIDITAS, DAN TINGKAT PERTUMBUHAN TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2019.v08.i07.p20 ◽

2019 ◽

Vol 8 (7) ◽

pp. 4559

Author(s):

Ni Putu Ayu Sinta Pradnya Sari ◽

Ni Putu Santi Suryantini

Keyword(s):

Growth Rate ◽

Dividend Policy ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Manufacturing Companies ◽

Analysis Technique ◽

Research Population ◽

Negative Effect

ABSTRACT This study aims to determine the effect of profitability, liquidity and growth rates on dividend policy. The research population was focused on manufacturing companies in the Indonesia Stock Exchange for the period 2013-2017, totaling 139 companies. Based on the sampling criteria with nonprobability sampling method with purposive sampling technique obtained a sample of 22 companies with a time of observation for 5 years, so that the number of observations obtained as many as 110 observations. The analysis technique used in this study is multiple linear regression analysis. The results of the analysis show that profitability and liquidity have a significant positive effect on dividend policy in manufacturing companies on the Indonesia Stock Exchange, while the growth rate has a significant negative effect on dividend policy in manufacturing companies on the Indonesia Stock Exchange. Keywords: Profitability, liquidity, growth rate, dividend policy

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PENGARUH LIKUIDITAS, SOLVABILITAS DAN PERPUTARAN MODAL KERJA TERHADAP PROFITABILITAS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Jurnal Benefita ◽

10.22216/benefita.v3i2.3173 ◽

2018 ◽

Vol 3 (2) ◽

pp. 219 ◽

Cited By ~ 1

Author(s):

Suci Wahyuliza ◽

Nola Dewita

Keyword(s):

Stock Exchange ◽

Linear Regression Analysis ◽

Financial Statements ◽

Multiple Linear Regression Analysis ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Working Capital ◽

Normality Test ◽

Analysis Technique ◽

Positive Effect

This study aims to determine the effect of liquidity, solvency and working capital turnover on profitability at manufacturing companies listed on the Indonesia Stock Exchange. In this study, the sample used as many as 32 companies. The data used in the form of financial statements listed on the Indonesia Stock Exchange. The data analysis technique used multiple linear regression analysis after passing the classical assumption test consisting of normality test, multicollinearity test, autocorrelation test and heteroscedasticity test. The results prove that liquidity has a significant effect on profitability, solvency has no effect on profitability and turnover of working capital has a significant positive effect on profitability. Of the two influential variables, liquidity has a greater impact than the working capital turnover. Simultaneously liquidity, solvency and turnover of working capital have a significant effect on profitability. The value of R2 Adjusted in this study is 0.159 which means that 15.9% profitability can be influenced by liquidity, solvency and working capital turnover. While the remaining 84.1% influenced by other variables. Penelitian ini bertujuan untuk mengetahui pengaruh likuiditas, solvabilitas dan perputaran modal kerja terhadap profitabilitas pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Dalam penelitian ini, sampel yang digunakan sebanyak 32 perusahaan. Data yang digunakan berupa laporan keuangan yang terdaftar di Bursa Efek Indonesia. Teknik analisis data menggunakan analisis regresi linier berganda setelah melewati uji asumsi klasik yang terdiri dari uji normalitas, uji multikolinieritas, uji autokorelasi dan uji heteroskedastisitas. Hasil penelitian membuktikan bahwa likuiditas berpengaruh signifikan terhadap profitabilitas, solvabilitas tidak berpengaruh terhadap profitabilitas dan perputaran modal kerja berpengaruh positif signifikan terhadap profitabilitas. Dari kedua variable yang berpengaruh tersebut, likuiditas mempunyai pengaruh yang lebih besar dibandingkan dengan perputaran modal kerja. Secara simultan likuiditas, solvabilitas dan perputaran modal kerja berpengaruh signifikan terhadap profitabilitas. Nilai R2 Adjusted dalam penelitian ini sebesar 0.159 yang berarti bahwa 15.9% profitabilitas dapat dipengaruhi oleh likuiditas, solvabilitas dan perputaran modal kerja. Sedangkan sisanya 84.1% dipengaruhi oleh variabel-variabel lain.

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THE ROLE OF CASH HOLDING IN INCREASING FIRM VALUE

Jurnal Riset Akuntansi Kontemporer - Vol 13 No 2 (2021): October Edition ◽

10.23969/jrak.v12i2.3193 ◽

2020 ◽

Vol 12 (2) ◽

pp. 81-86

Author(s):

Luluk Muhimatul Ifada ◽

Maya Indriastuti ◽

Rustam Hanafi

Keyword(s):

Firm Value ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Cash Holding ◽

Significant Positive Effect ◽

Manufacturing Companies ◽

Positive Effect

This study aims to examine the role of cash holding in mediating the effect of leverage on firm value. The object of this research is 423 manufacturing companies listed on the Indonesia Stock Exchange in 2016-2018. The sampling technique used in this research is purposive sampling, with the criteria of manufacturing companies listed on the Indonesia Stock Exchange in 2016-2018, publishing financial reports, and having complete data related to research variables so that a sample of 124 manufacturing companies was obtained. The analysis technique used in this research multiple linear regression analysis and path analysis. The results showed that leverage had a significant negative effect on cash holding and cash holding had a significant positive effect on firm value. Leverage has no significant positive effect on firm value. Cash holding is not able to mediate the effect of leverage on firm value.

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