Dampak Rasio Keuangan terhadap Kebijakan Deviden

Purwanti, Dwi; Sawitri, Peni

doi:10.26740/bisma.v3n2.p125-134

Cited by 7 publications

(10 citation statements)

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“…This is influenced by the tendency of companies in allocating profits to maintain company liquidity and meet funding needs to run a business and expand it. But, there is conformity with the result of this study with previous researches conducted by (Pamungkas et al, 2017;Purwanti & Sawitri, 2011) which stated that EPS has no significant effect on the DPR.…”

Section: Discussionsupporting

confidence: 91%

“…543-552 544 payout ratio (DPR), the higher the number of dividends that will be distributed to shareholders, and it affects the increase of the share price, but the company's internal funding weakens because retained profits get lower. On the other hand, the lower the value of the company's DPR, the lower the amount of dividends that will be distributed and it is detrimental to shareholders, but the company's internal funding gets higher (Harianja, et al, 2013;Purwanti & Sawitri, 2011;Yudea, 2017).…”

Section: Introductionmentioning

confidence: 99%

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Determinants of Dividend Payout Ratio in Non-Financial Companies Listed

Anggraeny

Robiyanto

Sakti

2020

IJSSB

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This study aims to analyze the effect of both internal and external factors that determine the dividend payout ratio of non-financial companies listed in the IDX High dividend 20 during the period of 2015-2019. The independent variables of the company's internal factors are return on assets, earnings per share, and debt to equity ratio. The independent variables of the company's external factors are interest rates and inflation. The control variable used in this study is firm size. There were 13 companies listed in IDX High Dividend 20 by using the purposive sampling method. Data analysis used panel data regression which was analyzed three times by grouping the dividend payout ratio, low dividend, and high dividend. The results showed that the return on assets had a significant negative effect on the combined dividend payout ratio with a probability value (0.0309) and high dividend with a probability value (0.0067) smaller than the significance level (5%), but had no significant effect on the low dividend with a probability value (0.3283) greater than the significance level (5%). Earnings per share has no significant effect on the combined dividend payout ratio with a probability value (0.4151), low dividend with a probability value (0.1164), and high dividend with a probability value (0.3835) greater than the significance level (5%). It can be concluded that return on assets earning per share, firm size, and debt to equity ratio have an effect on dividend payout ratio.

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Section: Discussionsupporting

confidence: 91%

Section: Introductionmentioning

confidence: 99%

Determinants of Dividend Payout Ratio in Non-Financial Companies Listed

Anggraeny

Robiyanto

Sakti

2020

IJSSB

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“…A business organization consists of two interested parties, namely shareholders and management, where the dividend policy tends to cause internal conflicts between the two parties (Jensen & Meckling, 1976;Purwanti & Sawitri, 2011). Internal conflicts tend to be caused by management's aim to hold profits in the interests of investment to increase company growth, and vice versa shareholders expect that profits are distributed in the form of high dividends based on the proportionate share ownership they have (Ningrum, 2017).…”

Section: Introductionmentioning

confidence: 99%

The effect of activity ratios, liquidity, and profitability on the dividend payout ratio

Arsyad

Haeruddin

Muslim

et al. 2021

IAJ

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Dividends are a significant factor in investors' investment interests, so that dividend policy is a critical factor for companies to retain their shareholders. On this purposes, the companies must improve financial performance, especially activity ratios, liquidity ratios, and profitability ratios in this condition. The consumer goods industry sector is one of the industries that play a significant role in the capital market as they have rapid business competition. Until May 2020, the performance condition of companies in the consumer goods industry was experiencing less than optimal conditions as the manufacturing sector weakened at 22.0% due to the weakening of Indonesia's manufacturing Purchasing Managers' Index (PMI). The condition indicates that the impact of a decrease in the company's liquidity performance is a decrease in demand for manufactured goods which gives results in a decrease in profitability performance, and a less than optimal turnover of company assets in the consumer goods industry sector. This study uses manufacturing companies in the consumer goods industry listed on the Indonesia Stock Exchange from 2015 to 2019 as a sample. Multiple regression analysis results show that return on investment has a positive and significant effect on the dividend payout ratio. This result implies that the profitability ratio is a positive signal for investors in the capital market regarding the company's dividend policy.

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“…Companies with a mixture of high retained earnings tend to be so more mature with sufficient cumulative rate of returns that it tends to pay dividends whereas companies with low retained earnings in the early stages and requiring additional funds needs keep their profit [6]. A study conducted on manufacturing company listed on the Indonesia Stock Exchange 2005 -2009, state that the company's financial performance is represented by earnings per share, debt to equity ratio, return on investment, total asset turnover and price book value simultaneously affect cash dividend, while partially only debt to equity ratio, return on investment, total asset turnover affect cash dividend [12]. Other research illustrates that the factors affecting dividend policyies arw the income level for both the period concerned and the level of income expectation for the next period and the pattern of previous dividend payout [13].…”

Section: Retained Earnings and Dividend Policymentioning

confidence: 99%

The Effect of Retained Earnings on Dividend Policy from the Perspective of Life Cycle

Yusra¹,

Hadya²,

Fatmasari³

2019

Proceedings of the 1st International Conference on Life, Innovation, Change and Knowledge (ICLICK 2018)

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The dividend distributed by the company to the shareholders is very different when it is viewed from the standpoint of the company's life cycle. Companies in the established phase have a higher chance to pay dividends than companies in the decline stage. This is relevant to the company's life cycle theory. This study aimed to examine the effect of the retained earnings ratio on the probability and the level of dividend payout based on the life cycle of the company. The selected research objects were companies listed on the Indonesia Stock Exchange during period 2012-2015. Samples of this research were taken by using purposive sampling method. The analysis methods applied in this research were probit regression and tobit regression. The results confirmed that retained earnings that were chopped with retained earnings to total equity had a positive and significant effect on the probability of the company paying dividend and dividend payment rate. However, the results of the study did not show significant evidence that retained earnings havd a stronger effect on the probability and firm level of paying dividends.

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Dampak Rasio Keuangan terhadap Kebijakan Deviden

Cited by 7 publications

References 0 publications

Determinants of Dividend Payout Ratio in Non-Financial Companies Listed

Determinants of Dividend Payout Ratio in Non-Financial Companies Listed

The effect of activity ratios, liquidity, and profitability on the dividend payout ratio

The Effect of Retained Earnings on Dividend Policy from the Perspective of Life Cycle

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