Perbedaan Faktor Penentu Dividend Payout Ratio Sebelum dan Saat Pandemi Covid-19 pada Perusahaan Manufaktur
Keywords:
ROA, CR, DER, DAR, Ukuran Perusahaan, Dividend Payout Ratio
ROA, CR, DER, DAR, Ukuran Perusahaan, Dividend Payout Ratio
Abstract
Salah satu rasio keuangan yang penting untuk melihat kesehatan keuangan perusahaan adalah dividend payout ratio. Dividend payout ratio berperan penting untuk memberikan gambaran tentang dividen dan laba yang dihasilkan perusahaan. Penelitian ini bertujuan untuk mengetahui perbedaan faktor yang mempengaruhi dividend payout ratio pada perusahaan manufaktur sebelum dan saat pandemi covid-19. Faktor-faktor yang menjadi variabel dalam penelitian adalah Return On Asset (ROA), Current Ratio (CR), Debt to Equity Ratio (DER), Debt to Asset Ratio (DAR) dan Ukuran Perusahaan. Penelitian ini menggunakan perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2017-2020. Metode pengambilan sampel dalam penelitian ini menggunakan metode purposive sampling. Perusahaan yang menjadi sampel dalam penelitian ini berjumlah 37 perusahaan. Teknik analisis data yang digunakan dalam penelitian ini adalah teknik analisis linier berganda yang diolah dengan software SPSS 21. Hasil penelitian menunjukkan bahwa sebelum pandemi variabel ukuran perusahaan berpengaruh terhadap dividend payout ratio, disisi lain variabel ROA, CR, DER, DAR tidak berpengaruh terhadap dividend payout ratio. Sedangkan pada saat pandemi variabel return on asset dan debt to equity ratio berpengaruh terhadap dividend payout ratio, disisi lain variabel CR, DAR dan Ukuran Perusahaan tidak berpengaruh terhadap dividend payout ratio.
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References
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Chan, A. S. (2020). The analysis over the influence on dividend payout ratio through these variables return on assets, debt to equity ratio, and current ratio at manufacturing companies which has been include on Indonesia stock exchange during period 2012-2014. International Journal of Innovative Science and Research Technology, 5(3), 1191–1195.
Damayanti, F. D., Korawijayanti, L. K., & Karyanti, T. D. (2020). Analisis Kemampuan Current Ratio, Return on Total Assets, Debt To Total Assets, Total Assets Turnover, Dan Price Earning Ratio Dalam Memprediksi Pertumbuhan Laba Pada Perusahaan Manufaktur Di Bei Tahun 2013-2017. Jurnal Aktual Akuntansi Keuangan Bisnis Terapan (AKUNBISNIS), 3(1), 24. https://doi.org/10.32497/akunbisnis.v3i1.1967
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Putri, A. R., & Andayani. (2017). Pengaruh Kebijakan Hutang, Profitabilitas, Likuiditas, dan Kesempatan Investasi Terhadap Kebijakan Dividen. Journal of Chemical Information and Modeling, 6(6), 1–14.
Welas. (2017). Pengaruh posisi kas,ukuran perusahaan,return on assets dan debt to total assets terhadap dividend payout ratio. Jurnal Akuntansi Dan Keuangan, 6(1), 100–120.
Wijaya, R., & Solikhin, A. (2018). Pengaruh Current Ratio dan Debt to Equity Ratio Terhadap Dividend Payout Ratio Perusahaan Manufaktur BEI. Artikel, Universitas PGRI Madiun, 1–15.
Wuryani, E. (2020). Profitability and solvability analysis in an effort to improve dividend distribution. International Journal of Innovation, Creativity and Change, 13(3), 264–286.
Zaman, M. B. (2021). Influence of Debt To Total Asset Ratio ( DAR ) Current Ratio ( CR ) and Total Asset Turnover ( TATO ) on Return On Asset ( ROA ) and Its Impact on Stock Prices on Mining Companies on the Indonesia Stock Exchange in 2008-2017. Journal of Industrial Engineering & Management Research, 2(1), 114–132. https://jiemar.org/index.php/jiemar/article/view/119/95
Ariadini, S. S., & Hendri Soekotjo. (2018). Pengaruh Return On Assets, Debt To Equity Ratio, Dan Firm Size Terhadap Dividend Payout Ratio. Jurnal Ilmu Dan Riset Manajemen, 7(2).
Arsyad, M., Haeruddin, S. H., Muslim, M., & Pelu, M. F. A. R. (2021). The effect of activity ratios, liquidity, and profitability on the dividend payout ratio. Indonesia Accounting Journal, 3(1), 36. https://doi.org/10.32400/iaj.30119
Chan, A. S. (2020). The analysis over the influence on dividend payout ratio through these variables return on assets, debt to equity ratio, and current ratio at manufacturing companies which has been include on Indonesia stock exchange during period 2012-2014. International Journal of Innovative Science and Research Technology, 5(3), 1191–1195.
Damayanti, F. D., Korawijayanti, L. K., & Karyanti, T. D. (2020). Analisis Kemampuan Current Ratio, Return on Total Assets, Debt To Total Assets, Total Assets Turnover, Dan Price Earning Ratio Dalam Memprediksi Pertumbuhan Laba Pada Perusahaan Manufaktur Di Bei Tahun 2013-2017. Jurnal Aktual Akuntansi Keuangan Bisnis Terapan (AKUNBISNIS), 3(1), 24. https://doi.org/10.32497/akunbisnis.v3i1.1967
Eko Priyantara, & Thamrin, H. (2020). Determinant Factor Of Internal Dividend Payout Ratios On State Owned Enterprise. 1(2), 358–372. https://doi.org/10.38035/DIJEFA
Fadillah, N., & Eforis, C. (2020). Pengaruh Return on Asset, Debr to Equity Ratio, Earning per Share, dan Current ratio terhadap Dividend Payout Ratio (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2015-2017). Jurnal British, 1(1), 32–49.
Farisa, N. A., & Widati, L. W. (2017). Analisa Profitabilitas, Likuiditas, Pertumbuhan Penjualan, Struktur Aktiva dan Kebijakan Dividen terhadap Struktur Modal. Prosiding Seminar Nasional Multi Disiplin Ilmu & Call For Papers UNISBANK Ke-3 (SENDI_U 3), 2011, 640–649.
Garin Pratiwi Solihati, S. (2020). The Effect Of Current Ratio, And Growth Assets On Dividend Policy. EPRA International Journal of Multidisciplinary Research (IJMR)-Peer Reviewed Journal, 6(2), 198–210. https://doi.org/10.36713/epra2013
Herawati, A., & Irradha Fauzia, F. (2018). The Effect of Current Ratio, Debt to Equity Ratio and Return on Asset on Dividend Payout Ratio in Sub-sector Automotive and Component Listed in Indonesia Stock Exchange in Period 2012–2016. KnE Social Sciences, 3(10), 1076–1086. https://doi.org/10.18502/kss.v3i10.3450
I Gede Adiputra. (2021). The Influence of Profitability and Financial Leverage on Dividend Policy: An Evidence from Manufacturing Industrial Companies in Indonesia. Proceedings of the International Conference on Economics, Business, Social, and Humanities (ICEBSH 2021), 570.
Mardani, R. M. (2018). Pengaruh Return On Asset (Roa), Debt To Total Asset (Dta), Cash Ratio, Growth, Dan Firm Sise Terhadap Kebijakan Dividen. 1(2004), 32–43.
Martha, & Juliani, C. (2018). Effect of Current Ratio, Debt To Equity Ratio, Earning Per Share, Return on Assets, and Asset Growth on Dividend Payout Ratio in Lq-45 Company Listed on Indonesia Stock Exchange Period 2010-2016. Kurs, 3(1), 80–88. http://www.ejournal.pelitaindonesia.ac.id/ojs32/index.php/KURS/article/view/193/168
Novyarni, N., & Permana, R. Y. (2020). Effect of Current Ratio, Return on Asset, Net Profit Margin and Debt to Equity Ratio on Dividend Pay Out Ratio (For company listed in the LQ45 on Indonesian Stock Exchange). Annual International Conference on Accounting Research, 127(Aicar 2019), 41–45. https://doi.org/10.2991/aebmr.k.200309.010
Pattiruhu, J. R., & Paais, M. (2020). Effect of Liquidity, Profitability, Leverage, and Firm Size on Dividend Policy. Journal of Asian Finance, Economics and Business, 7(10), 35–42. https://doi.org/10.13106/jafeb.2020.vol7.no10.035
Putri, A. R., & Andayani. (2017). Pengaruh Kebijakan Hutang, Profitabilitas, Likuiditas, dan Kesempatan Investasi Terhadap Kebijakan Dividen. Journal of Chemical Information and Modeling, 6(6), 1–14.
Welas. (2017). Pengaruh posisi kas,ukuran perusahaan,return on assets dan debt to total assets terhadap dividend payout ratio. Jurnal Akuntansi Dan Keuangan, 6(1), 100–120.
Wijaya, R., & Solikhin, A. (2018). Pengaruh Current Ratio dan Debt to Equity Ratio Terhadap Dividend Payout Ratio Perusahaan Manufaktur BEI. Artikel, Universitas PGRI Madiun, 1–15.
Wuryani, E. (2020). Profitability and solvability analysis in an effort to improve dividend distribution. International Journal of Innovation, Creativity and Change, 13(3), 264–286.
Zaman, M. B. (2021). Influence of Debt To Total Asset Ratio ( DAR ) Current Ratio ( CR ) and Total Asset Turnover ( TATO ) on Return On Asset ( ROA ) and Its Impact on Stock Prices on Mining Companies on the Indonesia Stock Exchange in 2008-2017. Journal of Industrial Engineering & Management Research, 2(1), 114–132. https://jiemar.org/index.php/jiemar/article/view/119/95
Published
2022-08-30
How to Cite
NingsihS., SamrotunY., & SuhendroS. (2022, August 30). Perbedaan Faktor Penentu Dividend Payout Ratio Sebelum dan Saat Pandemi Covid-19 pada Perusahaan Manufaktur. Journal of Economic, Management, Accounting and Technology, 5(2), 167-178. https://doi.org/https://doi.org/10.32500/jematech.v5i2.2329
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