PENGARUH PROFITABILITAS, LIKUIDITAS, LEVERAGE, DAN FREE CASH FLOW TERHADAP KEBIJAKAN DIVIDEN: PERTIMBANGAN TINGKAT PERTUMBUHAN PERUSAHAAN

Permata Sari, Anita and Eddy, Suranta (2012) PENGARUH PROFITABILITAS, LIKUIDITAS, LEVERAGE, DAN FREE CASH FLOW TERHADAP KEBIJAKAN DIVIDEN: PERTIMBANGAN TINGKAT PERTUMBUHAN PERUSAHAAN. Undergraduated thesis, Fakultas Ekonomi UNIB.

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Abstract

This study aims to obtain empirical evidence on the effect of profitability, liquidity, leverage, and free cash flow on dividend policy with a grouping of companies do not grow and grow. Dividend payout policy measured by Dividend Payout Ratio (DPR), profitability measured by return on assets, liquidity measured by the CR, leverage measured by the DER, and free cash flow measured by the ratio of free cash flow (FCF). The sampling method used is purposive sampling of manufacturing companies listed on the Stock Exchange during the period 2006 to 2010. The data used in this study is secondary data obtained from the financial data in www.idx.com website. Amount of the final sample in this study were as many as 55 companies. This study uses multiple linear regression analysis to test the hypothesis by using SPSS version 16.0. The results of hypothesis testing indicate that the company's growth, profitability, liquidity and leverage positive influence on dividend policy, but is not consistent with the hypothesis of the study. While free cash flow negative effect, but no significant effect on dividend policy. At the company does not grow, profitability, liquidity and leverage negatively affect dividend policy. These results are also not consistent with the hypothesis of the study. While free cash flow positive effect, but no significant effect on dividend policy.

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