The Influence of Fundamental Factors of Macroeconomics Against Price Earning Ratio through Dividend Payout Ratio for LQ.45 Non-Banking Companies

Abstract

This study attempts to examine and analyze fundamental factors and to influence Dividend Payout Ratio and its impact on the company to companies 2014-2017 lq-45 period.In the form of financial report data obtained from the Indonesia stock exchange (IDX). The sample as many as 19 companies meet criteria.Analysis method data using analysis the linear regression and Path analysis.The data shows that the results of the analysis of its ROE and DER had an influence on Dividend Payout Ratio. NPM and The Inflation Rate has not been affecting The Dividend Payout Ratio.ROE, NPM, and The Inflation Rate has not been affecting PER. ROE, DER, NPM, and The Inflation Rateinfluential simultaneously against the Dividend Payout Ratio. The Dividend Payout Ratio to depend on the value of PER.There is no cause is an indirect effect between ROE, DER, NPM, and Inflation to PER.