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Abstract

AbstrakDividend Payout Ratio merupakan rasio yang memperlihatkan bagian earning yang dibayarkan sebagai dividen kepada investor. Penentuan besarnya DPR seharusnya mempertimbangkan pada peluang proyek yang ada, karena hal ini akan berpengaruh terhadap nilai perusahaan dan saham biasa. Rasio keuangan merupakan suatu alternatif yang dapat mengukur DPR. Adapun faktor-faktor yang dapat mempengaruhi dividend payout ratio meliputi: cash ratio, debt to equity ratio, return on assets, dan tax rate. Penelitian ini bertujuan untuk mengetahui pengaruh cash ratio, debt to equity ratio, return on asset, dan tax rate terhadap dividend payout ratio.Pendekatan penelitian yang digunakan dalam penelitian ini merupakan pendekatan kuantitatif. Tempat penelitian dilakukan di Bursa Efek Indonesia. Metode pengambilan sampel adalah purposive sampling. Populasi yang digunakan dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di BEI tahun 2013-2015 dengan jumlah sampel sebanyak 26 perusahaan. Variabel bebas dalam penelitian ini adalah Cash Ratio (X 1 ), Debt To Equity Ratio (X 2 ), Retun On Asset (X 3 ), Tax Rate (X 4 ), dan Dividend Payout Ratio (Y) sebagai variabel terikat. Teknik analisis data yang digunakan adalah analisis regresi linier berganda, dengan mempertimbangkan syarat uji asumsi klasik yaitu uji normalitas, uji multikolinieritas, uji autokorelasi dan uji heteroskedastisitas. Pengujian hipotesis yang digunakan adalah uji statistik secara simultan (uji F), uji statistik secara parsial (uji t), koefisien determinasi dan dengan taraf signifikan α = 5%, dengan menggunakan alat bantu program SPSS.Hasil penelitian ini menunjukkan bahwa secara parsial (Uji t) AbstractDividend Payout Ratio is a ratio showing a portion of earnings paid out as dividends to investors. Determination of the Parliament should consider the opportunities existing project, as this will affect the company's value and common stock. Financial ratios is an alternative that can measure the House. The factors that could affect dividend payout ratio include: cash ratio, debt to equity ratio, return on assets, and tax rate. This study aims to determine the effect of the cash ratio, debt to equity ratio, return on assets, and the tax rate on the dividend payout ratio. The research approach used in this study is a quantitative approach. Place of research conducted in the Indonesia Stock Exchange. The sampling method is purposive sampling. The population used in this research is manufacturing companies listed on the Stock Exchange in 2013-2015 with a total sample of 26 companies. The independent variables in this study is the Cash Ratio (X1), Debt To Equity Ratio (X2), Retun On Asset (X3), Tax Rate (X4), and Dividend Payout Ratio (Y) as the dependent variable. Data analysis technique used is multiple linear regression analysis, taking into account the condition of the test the classical assumption of normality test, multicollinearity, autocorrelation and heteroscedasticity test. Testing the hypothesis is simultaneously a statistical test

Factors Affecting Dividend Pay Out Ratio With Roe (Return on Equity) as Moderating Variable

“…The results of this study are in line with research conducted by Tita & Susanti (2020) [10] and Apriliani & Natalylova (2017) [13] which state that cash ratio has no effect on dividend pay out ratio. However, this result contradicts the research conducted by Winarko (2017) [9]. and Zaman (2018) [14] which states that cash ratio has a significant effect on dividend pay out ratio.…”

“…High cash ratio can provide a positive signal for investors, because it can reflect the corporate's ability to pay off its short-term debt. According to Winarko's research (2017) [9] which states that cash ratio has a significant and significant effect on dividend pay-out ratio. Meanwhile, according to Tita & Susanti (2020) [10] stated that cash ratio has no effect on dividend pay-out ratio.…”