Pengaruh Kepemilikan Manajerial, Profitabilitas, Pertumbuhan Penjualan, dan Leverage, terhadap Kebijakan Dividen

(Penelitian Pada Perusahaan Manufaktur Sub Sektor Industri Barang Konsumsi Periode 2013-2016 yang Terdaftar pada Bursa Efek Indonesia)

Abstract

The dividend policy concerns the use of profits which are the rights of shareholders or the decision whether the profits earned by the company will be distributed to shareholders as dividends or held for future investment financing. Dividend policy often creates a conflict of interest between the management of the company and the shareholders. The purpose of this study is to see the effect of Managerial Ownership, Profitability, Sales Growth, and Leverage on Dividend Policy as measured by Divident Payout Ratio (DPR) in consumer goods industry sub-sector manufacturing sector during 2013-2016 period listed in Indonesia Stock Exchange (IDX) . The type of data used is quantitative data and obtained from the secondary data source that is in the form of financial statements from the official website www.idx.co.id obtained by 30 companies. The analysis method used is multiple linear regression analysis and data processing using SPSS 21.0 for windows. Based on the results of the analysis, it is known that the variable of Managerial Ownership and Sales Growth has no effect on Dividend Policy. Meanwhile, Leverage has a negative effect on Dividend Policy and Profitability has a positive effect on Dividend Policy. The determination coefficient of 44% where there are still 56% more changes in the dependent variable that is influenced by other variables not included in this study.