Analisis Faktor-Faktor Yang Mempengaruhi Kebijakan Dividen Pada Perusahaan Manufaktur (Studi Kasus Sub Sektor Industri Barang Konsumsi Yang Terdaftar Di BEI) Periode 2015-2018

Abstract

This study aims to analyze the effect of Free Cash Flow, Profitability, Liquidity and Leverage on Dividend Policy. This research was conducted at manufacturing companies listed on the Indonesia Stock Exchange in the Consumer Goods Industry sector in the 2015-2018 period. Data analysis techniques used multiple linear regression analysis. This study uses a purposive sampling technique to get samples according to specified criteria. The number of companies based on the criteria in this study were 13 companies. This study uses the t test and F test to the coefficient values of variables partially and simultaneously with a significant level 5%. In addition, the study must meet the classical assumption test that is classical assumption test that is the normality test, multicollinearity test, autocorrelation test, and heterokedasticity test. Based on the t test results (partial) shows that Free Cash Flow, Liquidity, and Leverage does not significantly influence dividend policy, while profitability has a significant positive effect on dividend policy. While the results of the F test (simultaneous) show that there is a significant influence on Free Cash Flow, Profitability, Liquidity, Leverage together can affect dividend policy. R square value shows an effect of 34% and the remaining 66% is influenced by other variables not included in the study. The researcher suggest that further research extend the study period so that the influence of the independent variables can be seen for a longer period of time.