ANALYSIS OF RETURN ON ASSET, SALES GROWTH, ASSET GROWTH, CASH FLOW AND LIQUIDITY ON DIVIDEND PAYOUT RATIO IN INDONESIA STOCK EXCHANGE.
Amount: ANALYSIS OF RETURN ON ASSET, SALES GROWTH, ASSET GROWTH, CASH FLOW AND LIQUIDITY ON DIVIDEND PAYOUT RATIO IN INDONESIA STOCK EXCHANGE.
Authors: RANDY MAHARDHI SUTIKNO
Item Type: Thesis
Memberships: Master of Management Study Program, Faculty of Economics and Business Universitas Airlangga Surabaya, Indonesia
Publisher: Airlangga University
Abstract
This study was conducted to examine the effect of the variables Return on Assets (ROA), Sales Growth, Asset Growth, Cash Flow, and Debt to Total Assets (DTA) on the Dividend Payout Ratio (DPR) in companies listed on the IDX for the period 2008-2010. The focus of this study is to measure and analyze the effect of these variables on the Dividend Payout Ratio (DPR). It is hoped that this research can be useful for interested parties, such as company management, academics, investors, and for the development of financial theory. The sampling technique used is purposive sampling with the following criteria: (1) companies that always present financial statements as of December 2008-2010, (2) companies that continuously distribute dividends as of December 2008-2010, and (3) companies that always announce cash reports. flow during the observation period (2008-2010). The data was obtained based on the publication of the Indonesian Capital Market Directory (ICMD 2011). The number of samples obtained is 86 companies from 130 companies listed on the IDX. The analysis technique used is multiple regression with least squares equation and hypothesis testing using t-statistics to test the partial regression coefficients and f-statistics to test the significance of the effect together with a level of significance of 5%. In addition, the classical assumption test was also carried out which included normality test, multicollinearity test, heteroscedasticity test and autocorrelation test. The results of the analysis show that Return on Assets (ROA), Sales Growth, Asset Growth, Cash Flow, and Debt to Total Assets (DTA) partially have a significant effect on the company's DPR on the IDX for the period 2008-2010 at the level of significance of less than 5%. . Investors who expect a return in the form of dividends need to pay attention to cash flow, because cash flow has the biggest and most significant effect on the size of the DPR as indicated by the large beta standardized coefficients of 0,165.
Keywords: Return on Assets (ROA), Sales Growth, Asset Growth, Cash Flow, and Debt to Total Assets (DTA), and Dividend Payout Ratio (DPR)
sources: http://repository.unair.ac.id/37227/
