Faktor-faktor yang Memepengaruhi Kebijakan Dividen (Studi Kasus pada Emiten Pembentuk Indeks LQ-45 periode 2012-2014)

ABSTRAK
FAKOR-FAKTOR YANG MEMPENGARUHI KEBIJAKAN DIVIDEN
(STUDI KASUS PADA EMITEN PEMBENTUK
INDEKS LQ-45 PERIODE 2012-2014)
Penelitian ini bertujuan untuk menguji pengaruh Return on Equity (ROE), Total
Asset (TA), Debt to Equity Ratio (DER), Market to Book Value of Equity (MBVE),
dan Quick Ratio (QR) terhadap Dividend Payout Ratio (DPR) pada perusahaan yang
terdaftar di Indeks LQ-45 periode 2012-2014. Populasi dalam penelitian ini
berjumlah 45 perusahaaan dan diperoleh sampel sebanyak 18 perusahaan. Data
diperoleh melalui www.idx.co.id dan data dalam penelitian ini menggunakan data
panel yang merupakan gabungan antara times series dengan cross section. Teknik
analisis data menggunakan analisis regresi berganda data panel (random effect
model). Hasil penelitian menunjukkan bahwa secara parsial Return on Equity (ROE)
berpengaruh positif dan signifikan terhadap Dividend Payout Ratio (DPR). Market to
Book Value of Equity (MBVE) berpengaruh negatif dan signifikan terhadap Dividend
Payout Ratio (DPR). Total Asset berpengaruh positif tidak signfikan terhadap
Dividend Payout Ratio (DPR). Debt to Equity Ratio (DER) dan Quick Ratio (QR)
berpengaruh negatif tidak signifikan terhadap Dividend Payout Ratio (DPR).
Kata kunci: Return on Equity (ROE), Total Asset (TA), Debt to Equity Ratio (DER),
Market to Book Value of Equity (MBVE), Quick Ratio (QR) dan
Dividend Payout Ratio (DPR).

2
Universitas Sumatera Utara

ABSTRACT
FACTORS AFFECTING DIVIDEND POLICY
(CASE STUDY ON COMPANIES LISTED
IN THE LQ-45 PERIOD 2012-2014)
The purpose of this research is to analyze the effect of Return on Equity (ROE),
Total Asset (TA), Debt to Equity Ratio (DER), Market to Book Value of Equity
(MBVE), and Quick Ratio (QR) to the Dividend Payout Ratio (DPR) on companies
listed in the LQ-45 2012-2014. The population in this study amounted 45 companies
and obtained a sample of 18 companies. Data obtained from www.idx.co.id and data
in this study using panel data which is a combination of times series with a cross
section. Data were analyzed using panel data regression analysis (random effect
model). The research results shows that partially Return on Equity (ROE) positive
and significantly influence to Dividen Payout Ratio (DPR). Market to Book Value of
Equity (MBVE) negative and significantly influence to Dividend Payout Ratio
(DPR). Total Asset positive not significantly influence to Dividend Payout Ratio
(DPR). Debt to Equity Ratio (DER) and Quick Ratio (QR) negative not significantly

influence to Dividend Payout Ratio (DPR).
Keywords: Return on Equity (ROE), Total Asset (TA), Debt to Equity Ratio
(DER), Market to Book Value of Equity (MBVE), Quick Ratio (QR) and
Dividend Payout Ratio (DPR).

3
Universitas Sumatera Utara