Pengaruh DER, TATO dan NPM Terhadap Kebijakan Dividen (Studi Kasus Pada Industri Dasar dan Kimia yang Terdaftar Di Bursa Efek Indonesia (BEI) Tahun 2012-2016)

Iwan Firdaus, Putri Handayani

Abstract


This research was conducted to examine the effect of Debt to Equity Ratio (DER), Total asset turnover (TATO) dan Net profit margin (NPM) to Dividend Payout Ratio (DPR). The object for this research is basic industry and chamicals listed on the Indonesia Stock Exchange in the period 2012-2016. This research was conducted using quantitative menthod with total 10 sample of research were determined by saturated sampling. Method of hypothesis testing using t-test. This research use Debt to Equity Ratio (X1), Total asset turnover (X2), Net profit margin (X3) as independent variable and Dividend Payout Ratio as dependent variable. The results of this research is Total asset turnover (TATO) and Net profit margin (NPM) positive and has significant effect to Dividend Payout Ratio, while the DER negative and has no significant effect to Dividend Payout Ratio.

Full Text:

PDF

References


Abdul Rehman, Haruto Takumi. (2012). Determinants of Dividend

Payout Ratio: Evidence From Karachi Stock Exchange (KSE). Journal of Contemporary Issues in Business Research, 1(1), 20–27.

Adri, Raja S.S, 2012. Akuntansi Keuangan, Yogyakarta: Graha Ilmu.

Brigham dan Houston, 2010. Dasar-dasar Manjemen Keuangan, Jakarta; Salemba Empat

Baah, Boamah Kofi, Richard Tawiah dan Opoku Febiri Eric. (2014). Industry Sector Determinants of Dividend Policy And Its Effect On Share Price In Ghana. International Journal of Economics, Business and Finance, 2(5).

Budiman, Surya dan Harnovinsah. 2016. Analisis Pengaruh Arus Kas, Leverage, Tingkat Pertumbuhan, Ukuran Perusahaan, Dan Profitabilitas Terhadap Kebijakan Dividen. Jurnal TEKUN, 7(1), 49-61.

Darmadji & Fakhruddin. (2011). Pasar Modal di Indonesia, edisi 3, Salemba Empat, Jakarta.

Deni, Febrianto Frans, Siti Aisjah Dan Atim Djazuli. (2016). Analisis Variabel-Variabel yang Mempengaruhi Kebijakan Dividen. Jurnal Aplikasi Manajemen (JAM), 14(2).

Eltya, Sandy, Topowijono, dan Devi Farah Azizah. 2016. Pengaruh Leverage, Likuiditas, Profitabilitas Dan Ukuran Perusahaan Terhadap Kebijakan Dividen. Jurnal Administrasi Bisnis (JAB), 1(2).

Fahmi, Irham. 2012. Analisis Laporan Keuangan. Cetakan Ke-2. Bandung: Alfabeta.

Fahmi, I., & Yovi, L. H. 2011. Teori Portofolio dan Analisis Investasi Teori dan Soal

Jawab. Bandung: Alfabeta.

Farida, Ida dan Sunandar. (2015). Pengaruh Cash Ratio, Growth, Debt to Equity Ratio Dan Kepemilikan Publik Terhadap Dividend Payout Ratio Pada Perusahaan Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Fokus Bisnis. 1(2), 24-41.

Halim, Abdul. 2005. Analisis Investasi. Edisi ke 2. Jakarta: Salemba empat.

Hartono, J. (2010). Teori Portofolio dan Analisis Investasi. Edisi keenam. Yogyakarta: BPFE.

Horne, James C. Van & John M Wachowicz, Jr. (2012). Prinsip-Prinsip Manajemen Keuangan. Edisi Ketiga. Jakarta: Salemba Empat.

Ikatan Akuntan Indonesia. (2014). Pernyataan Standar Akuntansi Keuangan Jakarta: Salemba Empat.

Kasmir. (2012). Analisis Laporan Keuangan. Jakarta: PT. Raja Grafindo Persada.

Keown, Arthur J, et al. (2011). Manajemen Keuangan: Prinsip dan Penerapan. Edisi

Kesepuluh. PT Indek: Jakarta.

Khan, Waseem, and Naheed Ashraf. (2014). In Pakistani Service Industry: Dividend Payout Ratio as Function of Some Factors. International Journal of Academic Research in Accounting, Finance and Management Sciences, 4(1), 390–96.

Kurniawan, Esti Rusdiana. Rina Arifati. Dan Rita Ardini. (2016). Pengaruh Cash Position, Debt to Equity Ratio, Return On Asset, Current Ratio, Firm Size, Price Earning Ratio, Dan Total Assets Turn Over Terhadap Dividend Payout Ratio Pada Perusahaan Manufaktur Periode 2007-2014. Journal of Accounting, 1(2), 1-13.

Laim, Wisriati dkk. (2015). Analisis Faktor-Faktor yang Mempengaruhi Dividend Payout Ratio pada Perusahaan yang Terdaftar di Indeks LQ-45 Bursa Efek Indonesia. Jurnal EMBA, 3(1), 1129-1140.

Modigliani, F. dan M. H. Miller. (1963). Taxes and the Cost of Capital: A Correction. American Economic Review, 5(3), 433-43.

Mui, Yong Teck dan Mazlina Mustapha. (2016). Determinants of Dividend Payout Ratio: Evidence from Malaysian Public Listed Firm. Journal of Applied Environmental and Biological Sciences, 1(1)48-54.

Murhadi, Werner R. (2015). Analisis Laporan Keuangan Proyeksi dan Valuasi Saham. Jakarta: Salemba Empat.

Rizqia, DwitaAyu, Siti Aisjah and Sumiati. (2013). Effect of Managerial Ownership, Financial Leverage, Profitability, Firm Size, and Investment Opportunity on Dividend Policy and Firm Value. Journal of Finance and Accounting, 4(1), 120-130.

Sugiyono. (2014). Metode Penelitian Pendidikan Pendekatan Kuantitatif, Kualitatif dan R&D. Bandung: Alfabeta.

Sugiyono. Metode Penelitian Kuantitatif, Kualitatif Dan R&D. (2011). Cetakan k e-13. Penerbit Alfabeta. Bandung.

Swastyastu, Made Wiradharma. Gede Adi Yuniarta. Dan Anantawikrama Tungga Atmadja. 2014. Analisis Faktor-Faktor Yang Mempengaruhi Kebijakan Dividend Payout Ratio Yang Terdaftar Di Bursa Efek Indonesia. E-Journal S1 Akuntansi Universitas Pendidikan Ganesha, 1(1), 1-12.

Tandelilin, E. (2010). Analisis Investasi dan Manajemen Portofolio. Edisi Keenam.

Yogyakarta: BPFE UGM.

Topowijono, Amaliya Viya Kartika dan M.G. Wi Endang. (2015). Pengaruh Return on Assets, Return on Equity Dan Assets Growth Terhadap Dividend Payout Ratio. Jurnal Administrasi Bisnis (JAB), 1(2).

Usman, Halim dan Sri Wahyuni Mustafa. (2014). Pengaruh CR, DER dan ROA terhadap Dividend Payout Ratio pada Beberapa Perusahaan Pertambangan yang Terdaftar di BEI (2011-2013). Jurnal Akuntansi, 1(2), 43-47.

Yusuf, Abubakar dan Nasiru Muhammed. (2015). Determinant of Dividend Payout in Nigerian Banking Industry. Scholars Bulletin, 1(9), 253-259.




DOI: http://dx.doi.org/10.33021/jaaf.v3i1.679

Refbacks

  • There are currently no refbacks.


Mailing Address

Jl. Ki Hajar Dewantara, Kota Jababeka, Cikarang Baru, Bekasi 17550 - Indonesia

Mail Address

jaaf@president.ac.id

 

ISSN 2580-1791 (Print)

ISSN 2615-8051 (Online)

View My Stats

flag

 

---------------------------------------------------------------------------------------------------------------------------------------------------

JAAF (Journal of Applied Accounting and Finance) is indexed in:

Current accreditation SINTA 4