ANALISIS PENGARUH FREE CASH FLOW, ASSETS GROWTH, MARKET TO BOOK VALUE, PROFITABILITY DAN DEBT TO EQUITY RATIO TERHADAP DIVIDEND PAYOUT RATIO (Studi Pada Perusahaan Yang Tergabung Dalam Indeks LQ-45 di Bursa Efek Indonesia Periode 2011-2015)
Abstract: This research aims
to analyze the influence of Free Cash Flow, Assets Growth, Market to Book
Value, Profitability and Debt to Equity Ratio to Dividend Payout Ratio on the
company which group in the LQ-45 index in Indonesian Stock Exchange in period
2011-2015.Research population used company in LQ-45 index in Indonesian Stock
Exchange in period 2011-2015. Taken samples of the all purpose 22 companies by
using purposive sampling method. The data used in this research were obtained
from the Indonesian Capital Market Directory (ICMD) 2011-2015, IDX Annual
Report, and www.idx.co.id. Analysis technique used Ordinary Least Square
Regression (OLS), statistical t-test, f-test, and classic assumption test that
includes a test of normality test, multicollinearity test, autucorrelation
test, and heteroskedastisitas test. The result of the research are independent
variables simultaneously (F test) effect on Dividend Payout Ratio with a
significance level of 0.000. While partially (t test) showed that the variable
Free Cash Flow and Return On Assets have positive and significant effect on
Dividend Payout Ratio. Variable Assets Growtth and Debt to Equity Ratio have negative
and significant effect on Dividend Payout Ratio. Market to Book Value has
negative and not significant effect on Dividend Payout Ratio. Adjusted R2 is
0,458 wahich means that the ability of the five independent variables can
explain Dividend Payout Ratio amounted to 45,8%, while the rest is explained by
other factors.
Keywords: Dividend Payout
Ratio, Free Cash Flow, Assets Growth, Market to Book Value, Profitability (ROA)
and Debt to Equity Ratio
Penulis: Oktommy Putra,
Mohammad Kholiq Mahfud
Kode Jurnal: jpmanajemendd170789
