PENGARUH PROFITABILITAS, LEVERAGE, PERTUMBUHAN DAN LIKUIDITAS PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN (Studi Kasus pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2007-2010)

Abstract

The aims of this study is to determine the effect of profitability, leverage, growth, and liquidity of the company’s dividend policy on Indonesian manufacture company that listing on the Indonesia Stock Exchange (IDX) in 2007-2010. The five variables proxies are: (1) profitability measured by Return on Asset (ROA); (2) leverage measured by Debt to Equity Ratio (DER); (3) growth measured by Total Assets Growth (TAG); (4) liquidity measured by Current Ratio (CR); and (5) Dividend Policy measured by Dividend Payout Ratio (DPR). The population in this study are Indonesian manufacture company that listing on Indonesia Stock Exchange (IDX) in 2007-2010. The result of hypothesis testing (t Test) suggests that the ROA, TAG, and CR positive significantly influence the Dividend Payout Ratio, and DER does not have any significant influence to the DPR. The study found that two of the result is differ with hypothesis. Future studies are suggested to increase the number of population, add a variable and try with different proxies primarily for corporate growth.