Rasio Investasi, Quick Ratio, Return on Investment, dan Pertumbuhan Perusahaan dalam Memengaruhi Dividend Payout Ratio (Studi Kasus pada 5 Perusahaan Industri Manufaktur di Bursa Efek Indonesia
Abstract: All companies have a
goal of improving the welfare of the owners and investors. The company's goal
can be achieved by maximizing the stock price, in order to improve the welfare
of the shareholders of the company distributing dividends each year. Dividend
policy of the company relating to the determination of the percentage of
profits to be distributed to shareholders in the form of dividends or retained
for future investment financing. Dividend policy has significant implications
for investors and for companies, because it involves two parties and
conflicting interests, namely the shareholders with dividends, and interest of
the company retained earnings. The amount of profit is distributed as dividends
declared a Dividend Payout Ratio (DPR). Dividend Payout Ratio is the ratio
between the dividend with earnings per share expressed as a percentage.
The problems that arise as a consequence of the divergence of interests
between investors and companies to make the management company should be able
to make the right policy on corporate dividend percentage by considering the
factors that influence it. Therefore, researchers conduct research with the aim
to determine the effect of variables investment ratio, quick ratio, return on
investment, and firm growth partially and simultaneously the dividend payout
ratio at 5 Industrial Manufacturing companies in the Indonesia Stock Exchange
(formally Jakarta Stock Exchange) in the year 2003 to 2007. This research is
expected to contribute to determine the effect of the investment ratio, quick
ratio, return on investment, and growth of the company's dividend payout ratio
which can then be used sabagai additional information in making investment
decisions.
The result showed that the individual test results show that of the four
independent variables were examined, ie variable investment ratio, quick ratio,
return on investment, and growth of the company, only the ratio of investment
and growth in the company's effect on the dependent variable, the dividend
payout ratio. While the test results simultaneously (together) shows the
investment ratio, quick ratio, return on investment, and the growth of
corporate influence the dividend payout ratio. Subsequent research suggested
attention to other factors outside of the study were still associated with the
dividend policy and also can use other companies listed on the JSE in addition
to manufacturing companies. Observation period used can be extended so that
more number of observations, it would be more valid to generalize the results
of the study.
Keywords: Quick Ratio; Return
on Investment; Growth; Dividend Payout Ratio
Penulis: Indrayenti
Kode Jurnal: jpakuntansidd1000085
