Title: ANALYSIS OF RETURN ON ASSET, SALES GROWTH, ASSET GROWTH, CASH FLOW AND LIQUIDITY ON DIVIDEND PAYOUT RATIO ON THE INDONESIAN STOCK EXCHANGE.

Author: RANDY MAHARDHI SUTIKNO

Item Type : Thesis (Thesis)

Affiliations: Master of Management Study Program, Faculty of Economics and Business, Universitas Airlangga , Surabaya, Indonesia

Publisher: Universitas Airlangga

 

Abstract

This research was conducted to test the influence 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 BEI for the 2008-2010 period. The focus of this research is to measure and analyze the influence of these variables on the Dividend Payout Ratio (DPR). It is hoped that this research will be useful for interested parties, such as company management, academics, investors, and for the development of financial theory. The sampling technique used was purposive sampling with the following criteria: (1) companies that always present financial reports 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). Data obtained based on the publication of the Indonesian Capital Market Directory (ICMD 2011). A sample size of 86 companies was obtained from 130 companies listed on the IDX. The analysis technique used is multiple regression with least squares equations and hypothesis testing using t-statistics to test partial regression coefficients and f-statistics to test the significance of the influence together with a level of significance of 5%. Apart from that, classical assumption tests were also carried out which included normality tests, multicollinearity tests, heteroscedasticity tests and autocorrelation tests. 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 BEI for the 2008-2010 period at a level of significance of less than 5% . Investors who expect returns in the form of dividends need to pay attention to cash flow, because cash flow has the biggest and most significant influence on the size of the DPR as indicated by the value of the beta standardized coefficient 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/