PENGARUH LIKUIDITAS, SOLVABILITAS, PROFITABILITAS DAN AKTIVITAS TERHADAP KEBIJAKAN DIVIDEN

(Studi Empiris Pada Perusahaan Publik Sub Sektor Otomotif di Bursa Efek Indonesia Periode 2013 – 2017)

Abstract

Dividend policy is related to determining how much profit will be shared with shareholders or investors and determining how much profit should be replanted as retained earnings. This study aims to examine the factors that influence dividend policy. The independent variables in this study include, Current Ratio, Solvability (Debt to Equity Ratio), Profitability (Return on Assets) and Activities (Total Asset Turn Over). While the dependent variable is Dividend Payout Ratio in public companies in the Automotive sub-sector on the Indonesia Stock Exchange for the period 2013-2017. The analytical model used in this study is the panel data regression model using the StataCorp Stata 14.1 program and the data are analyzed using linear regression method Panel data. The results showed that Current Ratio had no significant effect on Dividend Payout Ratio while Solvability (Debt to Equity Ratio), Profitability (Return on Assets) and Activities (Total Asset Turn Over) had a significant effect on Dividend Policy (Dividend Payout Ratio).