ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR

Abstract

Dividends are payments made by a corporate to its shareholder members which is depend on the dividend policy of each companies. It is interesting to analyze factors that influence dividend policy because too many considerations. Sometimes those considerations cause conflict between many parties. The objective aim of this research is to analyze the influence of return on assets, acid-test ratio, debt to equity ratio, company size, inflation,and gross domestic product against Dividend policy. The population of this research is manufacture companies which listed in Bursa Efek Indonesia (BEI), there is 21 companies. Research sample using purposive sampling of companies for period ended 2005 – 2009 analyzed by using the two tail linear regression methodology. This research results that debt equity ratio, likuiditas, firm size, inflation and gross domestic product not significant to dividen policy (DPR). Return On Asset (ROA) gives significantly positive effect dividend policy(DPR), it proved by sig-t value lower than 5% significances.