Last modified: 2024-07-02
Abstract
Dividend policy is still a difficult puzzle to solve. Dividend policy is a policy taken by company management regarding whether profits will be kept as retained earnings or profits will be distributed to shareholders in the form of dividends. According to several previous studies, dividend policy can be influenced by various factors such as profitability, liquidity, debt levels, company size and company risk. In this research, the factors to be measured are profitability and liquidity. Profitability is a ratio used to measure a company's ability to generate profits. Meanwhile, liquidity is a ratio used to measure a company's ability to fulfill its short-term obligations. In this study, the research population is financial sector companies listed on the Indonesian IDX. The sampling technique used in this research was purposive sampling technique, and the objects obtained were 18 companies with a total of 5 years of research. So a sample of 90 samples was obtained. The results of this research are that profitability has no significant effect on dividend policy, while liquidity has no significant effect on dividend policy.
Keywords
References
Abdullah, M. (2015). Metode Penelitian Kuantitatif. In Aswaja Pressindo. Aswaja Pressindo.
Agustin, M. A., & Martha, L. (2023). Peningkatan Profitabilitas Dan Free Cash Flow Terhadap Kebijakan Dividen. 2(2).
Ahmed, I. E. (2015). Liquidity, Profitability and the Dividends Payout Policy. World Review of Business Research, 5(2), 73–85. https://www.researchgate.net/publication/336871172
Anggraini, L., & Yusra, I. (2019). PENDEKATAN DATA PANEL TERHADAP RETURN SAHAM : STUDI EMPIRIS PADA PERUSAHAAN LQ45. https://doi.org/10.1093/oseo/instance.00208803
Ano, R. R., Murni, S., & Rate, P. Van. (2014). Pengaruh Likuiditas Dan Profitabilitas Terhadap Devidend Payout Ratio Pada Subsektor Perbankan Yang Terdaftar Di Bursa Efek Indonesia Periode 2009-2013. Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 2(3), 884–894.
Anshori, M. (2019). Lembaga Keuangan Bank: Konsep, Fungsi Dan Perkembangannya Di Indonesia. Lembaga Keuangan Bank: Konsep, Fungsi Dan Perkembangannya Di Indonesia , 1, 91–102.
Baramuli, dedy natanael. (2016). Devidend Payout Ratio Pada Top Bank Di Indonesia Payout Ratio in the Top Bank in Indonesia. Jurnal Berkala Ilmiah Efisiensi, 16(03), 356–366.
Ben Amar, A., Ben Salah, O., & Jarboui, A. (2018). Do discretionary accruals affect firms’ corporate dividend policy? Evidence from France. Journal of Financial Reporting and Accounting, 16(2), 333–347. https://doi.org/10.1108/JFRA-03-2017-0020
Boţoc, C., & Pirtea, M. (2014). Dividend payout-policy drivers: Evidence from emerging countries. Emerging Markets Finance and Trade, 50(July 2014), 95–112. https://doi.org/10.2753/REE1540-496X5004S407
Dava, A. F., Sudjono, & Saluy, A. B. (2021). The Effect of Profitability, Leverage and Liquidity on Dividend Policy for Construction Issuers in 2014-2019. Dinasti International Journal of Economics, Finance & Accounting, 2(2), 171–184. https://doi.org/10.38035/dijefa.v2i2.821
Deitiana, T. (2013). Pengaruh Current Ratio , Return on Equity Dan Total Asset Turn Over Terhadap Devidend Payout Ratio Dan Implikasi Pada Harga Saham Perusahaan LQ 45. Jurnal Bisnis Dan Akuntansi, 15(1), 82–88. http://www.tsm.ac.id/JBA
Fure, J. A. (2016). FUNGSI BANK SEBAGAI LEMBAGA KEUANGAN DI INDONESIA MENURUT UNDANG-UNDANG NOMOR 10 TAHUN 1998 TENTANG PERBANKAN. Lex Crimen, V.
Ghozali, I. (2020). Desain Penelitian Kuantitatif dan Kualitatif untuk Akuntansi, Bisnis, dan Ilmu Sosial Lainnya. Yoga Pratama.
Ghozi, S. (2018). Analisis Regresi Data Panel Profitabilitas Bank Pembangunan Daerah ( BPD ) di Indonesia. Jurnal Matematika, 8(1), 1–12. https://doi.org/10.24843/JMAT.2018.v08.i01.p93
Gill, A., Biger, N., & Tibrewala, R. (2010). Determinants of Dividend Payout Ratios: Evidence from United States. The Open Business Journal, 3, 8–14.
Husnan, S. (2019). Manajemen Keuagan (Haryati & M. Hamdani (eds.); 3rd ed.). Universitas Terbuka. www.ut.ac.id
IDX. (2022). Idx Industrial Classification Perusahaan Tercatat Di Bursa Efek Indonesia. Go Public BEI.
Kusuma, R. C. S. D., Walenta, A. S., Yasa, N. N. K., Mayliza, R., Suhendar, A. D., Permatasari, R. W., ... & Sari, L. F. (2023). Pengantar Manajemen Bisnis.
Larassati, S. R., Aulia, E., & Tisa, R. (2023). Pengaruh Return On Equity, Debt To Equity Ratio dan Umur Perusahaan Terhadap Kebijakan Dividen (Studi pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2014). Jurnal Ekonomi Bisnis UNM, December, 136–145.
Lestari, K. F., Tanuatmodjo, H., & Mayasari, M. (2017). Pengaruh Likuiditas Dan Profitabilitas Terhadap Kebijakan Dividen. Journal of Business Management Education (JBME), 2(1), 243–250. https://doi.org/10.17509/jbme.v4i1.2293
Martha, L., Sogiroh, N. U., Magdalena, M., Susanti, F., & Syafitri, Y. (2018). PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN. Jurnal Benefita, 3(2).
Mayliza, R., & Suryadi, N. (2023). Lagged Dividend , Profit Growth , and Company Growth on Dividend Policy : Moderating Effect of Capital Structure. 3(2), 229–241.
Mazengo, S. D., & Mwaifyusi, H. A. (2021). the Effect of Liquidity, Profitability and Company Size on Dividend Payout: Evidence From Financial Institutions Listed in Dar Es Salaam Stock Exchange. Business Education Journal, 10(1), 1–12. https://doi.org/10.54156/cbe.bej.10.1.242
MONOGRAF KEBIJAKAN DIVIDEN PERUSAHAAN, (2022).
Nuringsih, K. (2005). Analisis Pengaruh Kepemilikana Manajerial, Kebijakan Utang, ROA Dan Ukuran Perusahaan Terhadap Kebijakan dividen (Pada Perusahaan Manufaktur Di Bursa Efek Indonesia 1995-1996). Jurnal Akuntansi Dan Keuangan Indonesia, 2(2), 103–123.
Paskaboni, E. D. (2020). Pengaruh Pengungkapan Corporate Social Responsibility Terhadap Kinerja Keuangan Perusahaan (Studi empiris pada perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia tahun 2017-2018). 68–74.
Pratiwi, R. D., Siswanto, E., & Istanti, L. N. (2016). Pengaruh Return On Equity, Debt to Equity Ratio, dan Umur Perusahaan Terhadap Kebijakan Dividen. Jurnal Ekonomi Bisnis, 21(Skripsi. Program Studi Manajemen, Fakultas Ekonomi, Universitas Negeri Yogyakarta), 136.
Purba, D. P., Sheren, Valen, & Angeline. (2019). PENGARUH CURRENT RATIO (CR), DEBT TO EQUITY RATIO (DER) DAN RETURN ON EQUITY (ROE) TERHADAP DIVIDEND PAYOUT RATIO (DPR) PADA PERUSAHAAN SEKTOR INDUSTRI BARANG KONSUMSI DI BURSA EFEK INDONESIA (BEI) TAHUN 2013 –2017. Jurnal Riset Akuntansi Going Concern, 14(1), 214–224.
Puspita, E. (2017). Pengaruh Likuiditas, Profitabilitas, Leverage , dan Market Ratio terhadap Dividend Payout Ratio pada Perusahaan Manufaktur. 1, 17–35.
Putra, A. N. D. A., & Lestari, P. V. (2016). Pengaruh Kebijakan Dividen, Likuiditas, Profitabilitas Dan Ukuran Perusahaan Terhadap Nilai Perusahaan. E-Jurnal Manajemen Unud, 5(7), 4044–4070.
Raed, K. (2020). Dividend Policy and Companies” Financial Performance. Journal of Asian Finance, Economics and Business, 7(10), 531–542. https://doi.org/10.13106/jafeb.2020.vol7.no10.531
Rodani, A. (2023). Dampak Kolapsnya Silicon Valley Bank terhadap Industri Perbankan Indonesia. Djkn.Kemenkeu.Go.Id. https://www.djkn.kemenkeu.go.id/kanwil-kalbar/baca-artikel/15975/Dampak-Kolapsnya-Silicon-Valley-Bank-terhadap-Industri-Perbankan-Indonesia.html
Sari, K. A. N., & Sudjarni, L. K. (2015). Pengaruh Likuiditas, Leverage, Pertumbuhan Perusahaan, dan Profitabilitas Terhadap Kebijakan Dividen Pada Perusahaan Manufaktur di BEI. 4(10), 3346–3374.
Sarmento, J. D. C., & Dana, M. (2016). Pengaruh Return on Equity, Current Ratio, Dan Earning Per Share Terhadap Kebijakan Dividen Pada Perusahaan Keuangan. E-Jurnal Manajemen Universitas Udayana, 5(7), 4224–4252.
Sharma, R. K., & Bakshi, A. (2019). An evident prescience of determinants of dividend policy of Indian real estate companies: An empirical analysis using co-integration regression and generalised method of moments. Journal of Financial Management of Property and Construction, 24(3), 358–384. https://doi.org/10.1108/JFMPC-02-2019-0012
Stereńczak, S., & Kubiak, J. (2022). Dividend policy and stock liquidity: Lessons from Central and Eastern Europe. Research in International Business and Finance, 62. https://doi.org/10.1016/j.ribaf.2022.101727
Wahyuni, S. F., & Hafiz, M. S. (2018). Pengaruh CR, DER dan ROA terhadap DPR pada Perusahaan Manufaktur di BEI. Jesya (Jurnal Ekonomi & Ekonomi Syariah), 1(2), 25–42. https://doi.org/10.36778/jesya.v1i2.18
Wiwoho, J. (2014). Peran Lembaga Keuangan Bank Dan Lembaga Keuangan Bukan Bank Dalam Memberikan Distribusi Keadilan Bagi Masyarakat. Masalah-Masalah Hukum, 43(1), 87–97.
Wulandari, N., Matematika, J., Sains dan Teknologi, F., Sultan Syarif Kasim Riau Jl Soebrantas No, U. H., & Baru, S. (2017). Analisis Faktor-Faktor yang Mempengaruhi Inflasi pada Kota Metropolitan di Indonesia dengan Menggunakan Analisis Data Panel. Jurnal Sains Matematika Dan Statistika, 3(2), 34–42. https://ejournal.uin-suska.ac.id/index.php/JSMS/article/view/4475