Effect Of Board Independence, Firm Size, Debt To Equity Ratio, Net Profit Margin Towards Dividend Policy In Companies (Sub Sectors Of Food And Beverages Listed In Bei 2009 - 2018)

Abstract

Dividend policy is a profit right used by investors where the profit will be shared or retained for reinvestment. The population used by researchers are 8 food and beverage companies listed on the Indonesia Stock Exchange in 2009-2018. Sampling by purposive sampling technique, 8 companies were selected. Data analysis techniques in this study were multiple linear regression. This study obtained the results of board independence and net profit margin affect the dividend policy, while the firm size and debt to equity ratio do not affect the dividend policy. The benefits of research are providing additional information to researchers who will develop knowledge in the field of financial accounting.

Determinants of Dividend Payout Ratio in Non-Financial Companies Listed

“…This finding does not support the statement which explained that companies with large sizes are easier to earn profits so that they are able to distribute high dividends. The result of this study is in accordance with researches conducted by (Aziza et al, 2020;Helmina & Hidayah, 2017;Swastyastu et al, 2014) which stated that firm size has no effect on the DPR.…”

“…Previous researches by (Atmoko et al, 2017), (Febriani & Sari, 2019) firm size has a significant positive effect on the DPR. Conversely, research by (Aziza et al, 2020) explained firm size has no effect on the DPR.…”

Pengaruh Profitabilitas, Firm Size, Likuiditas dan Leverage Terhadap Kebijakan Deviden

“…Likuiditas menurut penelitian yang dilakukan (Aziza, Dewi, & Fajri, 2020;Victoria, 2019) menyatakan bahwa likuiditas tidak berpengaruh terhadap Kebijakan Deviden, sementara penelitian yang dilakukan oleh (Aditya et al, 2020), menyatakan bahwa variable likuidits berpengaruh terhadap kebijakan deviden.…”

“…Leverage atau Solvabilitas menurut (Kasmir, 2017) merupakan rasio yang digunakan untuk mengukur seberapa jauh mana aktiva perusahaan yang dibiayai oleh hutang perusahaan. Menurut penelitian yang dilakukan oleh (Aziza et al, 2020;Victoria, 2019) menyatakan bahwa leverage tidak berpengaruh kepada Kebijakan Deviden, Sementara penelitian (Noefiansyah & Idayati, 2019) menyatakan bahwa dari hasil pnelitiannya variabel leverage berpengaruh terhadap Kebijakan Deviden Berdasarkan atas hasil penelitian terdahulu yang tidak konsisten, peneliti ingin melakukan konfirmasi terhadap hasil penelitian tersebut. Berdasarkan atas hal tersebut, peneliti ingin meneliti mengenai faktor-faktor yang mempengaruhi Kebijakan Deviden.…”