THE INFLUENCE OF RETURN ON INVESTMENT, CURRENT RATIO, DEBT TO EQUITY RATIO , EARNING PER SHARE,AND FIRM SIZE TO THE DIVIDEND PAY OUT RATIO IN BANKING INDUSTRIES LISTED AT INDONESIA STOCK EXCHANGE PERIOD 2013-2018
DOI:
https://doi.org/10.31933/dijdbm.v1i2.157Keywords:
Return On Investment,Current Ratio,Debt To Equity Ratio ,Earning Per Share,Firm Size and Dividend Payout RatioAbstract
This study aimed to examine the factors that influence the ratio of dividend payments in the banking industry. These factors include return on investment, current ratio, debt to equity ratio, earnings per share, and firm size. The technique for sampling using purposive sampling while the sample used in this study was 6 banking companies listed on the Indonesia Stock Exchange in 2014-2018. The analytical method used in this study was a panel data regression model (a combination of time series and cross section). From the results of the study, showed that first, the return on investment did not significantly affect the dividend payout ratio; second, the current ratio did not significantly influence the dividend payout ratio; third, the debt to capital ratio had a significant effect on dividend payout ratios; fourth, earnings per share did not significantly influence to the ratio of dividend payout ratios and the last was that the size of the company had a significant effect on the ratio of dividend payout ratios. From these results it is expected that can be used as a reference, both by company management and by investors in determining investment strategies.
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Reilly F. K. & Brown K. C. (2012). Investment Analysis & Portfolio Management, 10th edition. Ohio: South-Western Cengage Learning.
Priyatno, Duwi.2008. Mandiri Belajar SPSS. Yogyakarta: PT.Buku Kita
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Santoso, Singgih. 2001. Buku Latihan SPSS Statistik Parametrik. Jakarta: PT.Elex Media Komputindo.
Sartono, R. Agus.2001. Manajemen Keuangan, teori dan aplikasi. Edisi keempat Yogyakarta: BPFE.
Stefan, Yudhanto dan Siti Aisjah. 2012. Pengaruh Net Profit Margin, Return On Asset,
Return on Equity, dan Earning Per Share terhadap kebijakan dividen pada perusahaan manufaktur yang terdaftar di BEI tahun 2009-2011.
Stice, E.K., Stice, J.D and Skousen, K.F. 2005.Intermediate Accounting. Fifteenth edition.Ohio: south- Western Publishing Co.Cincinati.
Suharli,M. 2004. Studi Empiris Terhadap Faktor Penentu Kebijakan Jumlah Dividen. Tesis Magister Akuntansi. Jakarta
Sunarto dan Andi Kartika (2003). Analisis Faktor-faktor Yang Mempengaruhi Dividen Kas di BEI. Jurnal Bisnis dan Ekonomi,Vol. Maret, 2003. Hal 67-82.
Suprastiwi, Z. A., Chandrayanti, I., Azmi, Agustiani, R., & Widayanti, T. S. (2016). Jurnal kearsipan. Jurnal Kearsipan.
Wahyudi dan Hartini. P. Perwestri. 2011. Implikasi Struktur Kepemilikan terhadap Nilai Perusahaan dengan Keputusan Keuangan sebagai Variabel Intervening. SNA IX, Ikatan Akuntan Indonesia.
Edisi Empat.Yogyakarta :BPFE.
Black, Fisher,1976,The Dividend Puzzle,The Journal of Portfolio Management,2,pp 58.
Black, Fisher and Myron S. Scholes (1974), The Effects of Dividend Yield and Dividend Policy on Common Stock Prices and Returns, Journal of Financial Economics 1,1-22
Brown,Keith C., and Frank K.Reilly. 2009. Analysis of Investment and Management of
Portfolio. Ninth edition.Canada:South Western.
Connelly, B. L., Certo, S. T., Ireland, R. D., & Reutzel, C. R. (2011). Signaling theory: A review and assessment. Journal of Management. https://doi.org/10.1177/ 0149206310388419
Darmadji, Tjiptono, dan Fakhruddin, Hendy M. 2001. Pasar Modal di Indonesia
pendekatanTanya jawab.Edisi pertama, Jakarta: Salemba Empat.
Deitiana, Tita (2009), Faktor-Faktor Yang Memengaruhi Kebijakan Pembayaran
DividenKas. Jurnal Bisnis dan Akuntansi dan Pendidikan, Vol. 11, No. 1, April 2009, Hlm. 57-64.
Enhardt ,Michael C And Eugene . 2003. Corporate Finance - A Focused Approach.South Western.
Gibson,Charles H.2009. Financial Reporting and analysis, Eleventh edition. United States: South Western Cengange Learning.
Gujarati, Damodar,2003, Ekonometrika Dasar, Penerbit Erlangga, Jakarta.
Gustian, Hedi dan Utik Bidayati. 2009. Analisis Pengaruh Cash Position, DER, dan ROA terhadap DPR pada Perusahaan Manufaktur di BEI. Jurnal Akuntansi dan Keuangan Indonesia. Volume 7 - No. 2, Desember 2009
Harahap, Sofyan Syafri. 2001. Analisis Kritis atas Laporan Keuangan.Edisi pertama. Jakarta:PT.Raja Grafindo Persada.
Hermuningsih, Sri. 2007. Analisis Faktor-faktor yang Mempengaruhi Dividend Payout
Ratio pada Perusahaan yang Go Public di Indonesia. Jurnal Akuntansi dan Keuangan Indonesia. Volume 7 - No. 2, 2007
Horne John M., J. C. V. dan W. (2012). Prinsip-prinsip Manajemen Keuangan. Edisi 13.
Jakarta: Salemba Empat. https://doi.org/10.1016/j.neuroimage.2007.11.048
http://www.idx.co.id
http://www.sahamok.com
Indriantoro Nur., dan Supomo, Bambang. 2002. Metodologi Penelitian Bisnis Untuk Akuntansi dan Manajemen. Edisi kedua.Yogyakarta : BPFE.
Kebijakan Hutang, Profitabilitas, dan Ukuran Perusahaan terhadap Kebijakan Dividen. Jurnal Bisnis dan Akuntansi, Vol. 10, No. 1, April 2008, 47 – 58.
Kotler. (2005). Bab ii landasan teori dan kerangka pemikiran 2.1. Pengertian Properti.
Lawrence J. Gitman. 2009. Principles of Managerial Finance. Twelfth edition.Boston : San Diego State University.
Mohana, R. P. (2011). Financial Statement Analysis and reporting. India: PHI Learning Pvt. Ltd.
Mondigliani & Miller. (1958). The Cost of Capital, Corporation Finance and The Theory of Investment.American Economic Review, 48(3), 261- 297.
Natarsyah, S. (2000). Analisis Pengaruh Beberapa Faktor Fundamental Perusahaan Terhadap Harga Saham. (Kasus Industri Barang Konsumsi). Jurnal Ekonomi dan Bisnis Indonesia, 5(3),294-312.
Nuringsih, K. (2005). Analisis Pengaruh Kepemilikan Manajerial, Kebijakan Utang, ROA dan Ukuran Perusahaan terhadap Kebijakan Dividen. Jurnal Akuntansi dan Keuangan Indonesia, 2(2), 103-123.
O V, E. O. V. (2010). Pengaruh Dividen Per Share dan Earning Per Share Terhadap Harga Saham. JURNAL ILMU MANAJEMEN DAN BISNIS. https://doi.org/10.17509/ jimb.v2i2.13085
Rachbini (1997). Mungkinkah Harganya Turun? Properti Indonesia, p.26
Rasmini (2007).Analisis Faktor-Faktor yang Mempengaruhi Harga Saham (Skripsi). Program Strata 1 STIE Totalwin, Semarang.
Reilly F. K. & Brown K. C. (2012). Investment Analysis & Portfolio Management, 10th edition. Ohio: South-Western Cengage Learning.
Priyatno, Duwi.2008. Mandiri Belajar SPSS. Yogyakarta: PT.Buku Kita
Tampubolon, Manahan. 2005. Manajemen Keuangan. Bogor : Ghalia Indonesia
Riyanto, Bambang. 2000. Dasar-dasar perbelanjaan. Edisi keempat. Yogyakarta: BPFE.
Ross, Stephen A, Randolph w. westerfield and Jeffrey Jaffe. 2002. Corporate Finance, sixth Edition, New York : McGraw-Hill.
Santoso, Singgih. 2001. Buku Latihan SPSS Statistik Parametrik. Jakarta: PT.Elex Media Komputindo.
Sartono, R. Agus.2001. Manajemen Keuangan, teori dan aplikasi. Edisi keempat Yogyakarta: BPFE.
Stefan, Yudhanto dan Siti Aisjah. 2012. Pengaruh Net Profit Margin, Return On Asset,
Return on Equity, dan Earning Per Share terhadap kebijakan dividen pada perusahaan manufaktur yang terdaftar di BEI tahun 2009-2011.
Stice, E.K., Stice, J.D and Skousen, K.F. 2005.Intermediate Accounting. Fifteenth edition.Ohio: south- Western Publishing Co.Cincinati.
Suharli,M. 2004. Studi Empiris Terhadap Faktor Penentu Kebijakan Jumlah Dividen. Tesis Magister Akuntansi. Jakarta
Sunarto dan Andi Kartika (2003). Analisis Faktor-faktor Yang Mempengaruhi Dividen Kas di BEI. Jurnal Bisnis dan Ekonomi,Vol. Maret, 2003. Hal 67-82.
Suprastiwi, Z. A., Chandrayanti, I., Azmi, Agustiani, R., & Widayanti, T. S. (2016). Jurnal kearsipan. Jurnal Kearsipan.
Wahyudi dan Hartini. P. Perwestri. 2011. Implikasi Struktur Kepemilikan terhadap Nilai Perusahaan dengan Keputusan Keuangan sebagai Variabel Intervening. SNA IX, Ikatan Akuntan Indonesia.
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