Path: Top Journal Jurnal_Keuangan_dan_Perbankan 2017

DETERMINAN INTERNAL DIVIDEND PAYOUT RATIO PERUSAHAAN FARMASI TERDAFTAR DI BURSA EFEK INDONESIA

Jurnal Keuangan dan Perbankan: Volume 21, Nomor 2, April 2017
Journal from JIPTUNMERPP / 2017-10-04 09:33:13
Oleh : Zulkifli ; Endri ; Augustina Kurniasih, Diploma 3 of Banking and Finance Merdeka University Malang
Dibuat : 2017-04-01, dengan 0 file

Keyword : Current ratio, return on assets, debt to equity ratio, dividend payout ratio, earning growth, earning per share, market to book value, return on equity
Url : http://drive.google.com/file/d/0B0uNqoBLtJGvejNxby1ZVXRnTWM/view?usp=sharing

Penelitian ini bertujuan menguji dan menganalisis determinan internal dividend payout ratio, menggunakan data tahunan periode observasi 2008 sampai dengan 2014. Jenis penelitian quantitative research. Populasi adalah seluruh perusahaan farmasi yang berjumlah 10 perusahaan. Kriteria sampel adalah perusahaan farmasi yang konsisten membayarkan dividen tunai. Berdasarkan teknik pengambilan sampel non probability yaitu purposive sampling, di temukan 6 perusahaan memenuhi kriteria sampel. Analisis data menggunakan regresi data panel. Ditemukan bahwa fixed effect merupakan model terbaik karena memiliki nilai R square paling besar. Hasil penelitian menunjukkan variabel bebas (current ratio, return on assets, debt to equity ratio, earning growth, return on equity, earning per share dan market to book value) secara simultan mampu membentuk model yang fit untuk menjelaskan variabilitas dividend payout ratio. Secara parsial return on assets dan market to book value berpengaruh signifikan positif terhadap dividend payout ratio, sedangkan current ratio, debt to equity ratio dan return on equity berpengaruh negatif dan signifikan. Earning growth dan earning per share tidak signifikan pengaruhnya terhadap dividend payout ratio. Disarankan menambah variabel faktor eksternal, menggunakan sampel perusahaan dari industri lainnya.

Deskripsi Alternatif :

This study aimed to examine and analyze the effect of internal determinant of dividend payout ratio pharmaceutical company, annual data observation period 2008 until 2014. The type of this study was quantitative research. Population of the research was the entire pharmaceutical company consisting of 10 companies. The sampled criteria were pharmaceutical companies that consistently paid cash dividends. There were 6 companies listed in Indonesia Stock Exchange with non-probability sampling technique namely purposive sampling. Data analysis used panel data regression fixed effect which had larger R square value. The results showed that current ratio, return on assets, debt to equity ratio, earnings growth, return on equity, earnings per share and market to book value simultaneously were having significant influence to the dividend payout ratio. Partially return on assets and market to book value had a positive significant effect on the dividend payout ratio, while current ratio, debt to equity ratio and return on equity had a significant negative effect. Earnings growth and earnings per share did not have significant influence on the dividend payout ratio. It was suggested to add external variables factors using more samples of companies.

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PropertiNilai Properti
ID PublisherJIPTUNMERPP
OrganisasiDiploma 3 of Banking and Finance Merdeka University Malang
Nama KontakDra. Wiwik Supriyanti, SS
AlamatJl. Terusan Halimun 11 B
KotaMalang
DaerahJawa Timur
NegaraIndonesia
Telepon0341-563504
Fax0341-563504
E-mail Administratorperpus@unmer.ac.id
E-mail CKOwsupriyanti@yahoo.com

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  • Editor: Wiwik Supriyanti, Dra. SS.