Pengaruh Rasio Aktivitas dan Leverage Terhadap Dividen pada Perusahaan Manufaktur di Bursa Efek Indonesia

ABSTRAK
PENGARUH RASIO AKTIVITAS DAN LEVERAGE TERHADAP
DIVIDEN PADA PERUSAHAAN MANUFAKTUR
DI BURSA EFEK INDONESIA

Penelitian ini bertujuan untuk mengetahui dan menganalisis pengaruh
rasio aktivitas yang terdiri dari Total Assets Turnover (TATO), Fixed Asset
Turnover (FATO), Leverage yang terdiri dari Debt Ratio dan Debt to Equity Ratio
(DER) terhadap dividen (Dividend Payout Ratio) baik secara simultan maupun
secara parsial pada Perusahaan Manufaktur di Bursa Efek Indonesia. Populasi
dalam penelitian ini adalah Perusahaan Manufaktur yang terdaftar di Bursa Efek
Indonesia. Pengumpulan data dilakukan melalui studi dokumentasi yang
bersumber dari www.idx.co.id. Penarikan sampel pada penelitian ini adalah
didasarkan pada kriteria tertentu yang disesuaikan dengan tujuan penelitian. Jenis
penelitian yang digunakan adalah assosiatif kausal yaitu untuk mengetahui
hubungan sebab akibat antara satu variabel dengan variabel yang lain. Metode
analisis yang digunakan adalah Regresi Linier Berganda. Hasil penelitian
menunjukkan bahwa secara simultan menunjukkan bahwa variabel Total Assets
Turnover (TATO), Fixed Assets Turnover (FATO), Debt Ratio dan Debt to Equity
Ratio (DER) berpengaruh signifikan terhadap Dividen (Dividend Payout Ratio) di
Bursa Efek Indonesia. Sedangkan secara parsial menunjukkan bahwa variabel

Total Assets Turnover (TATO) berpengaruh secara positif namun tidak signifikan
terhadap Dividen (Dividend Payout Ratio), Fixed Assets Turnover (FATO)
berpengaruh negatif tidak signifikan terhadap Dividen (Dividend Payout Ratio),
variabel Debt Ratio berpengaruh secara negatif namun tidak signifikan terhadap
Dividen (Dividend Payout Ratio), dan variabel Debt to Equity Ratio (DER)
berpengaruh positif dan signifikan terhadap Dividen (Dividend Payout Ratio)
pada Perusahaan anufaktur di Bursa Efek Indonesia. Nilai R Square pada model
regresi adalah 0,187, yang berarti bahwa Total Assets Turnover (TATO), Fixed
Assets Turnover (FATO), Debt Ratio dan Debt to Equity Ratio (DER)
mempengaruhi Dividend Payout Ratio sebesar 18,7%, dan sisanya 81,3%
dijelaskan oleh faktor-faktor lain yang tidak termasuk dalam model penelitian ini.
Kata Kunci : Total Assets Turnover (TATO), Fixed Asset Turnover (FATO),
Debt Ratio dan Debt to Equity Ratio (DER) dan Dividend Payout
Ratio.

ABSTRACT
THE EFFECT OF ACTIVITIES RATIO, AND LEVERAGE ON
DIVIDEND IN MANUFACTURING COMPANIES
IN INDONESIA STOCK EXCHANGE

The aim of study was to analyze the effect of activities ratio consists of
Total Assets Turnover (TATO), Fixed Asset Turnover (FATO), Leverage consists
of Debt Ratio and Debt to Equity Ratio (DER) on Dividend (Dividend Payout
Ratio) in manufacturing companies in Indonesia stock exchange. This study used
the secondary data from www.idx.co.id. The sampling was based on the criteria in
accordance with the objectives of the study. This study used casual associative
design to determine the casual relationship between a variable to another variable.
The analytical method used was Multiple Linier Regression. The results showed
that Total Assets Turnover (TATO), Fixed Asset Turnover (FATO), Leverage
consists of Debt Ratio and Debt to Equity Ratio (DER) simultaneously have a
significant effect on Dividend Payout Ratio in manufacturing companies in
Indonesia stock exchange. The partial test (t-test) showed that Total Assets
Turnover (TATO) has unsignificantly positive effect on Dividend Payout Ratio,
Fixed Assets Turnover (FATO) has unsignificantly negative effect on Dividend
Payout Ratio, Debt Ratio has unsignificantly negative effect Dividend Payout
Ratio, and Debt to Equity Ratio (DER) has significantly positive effect on
Dividend Payout Ratio in manufacturing companies in Indonesia stock exchange.
The R Square value of this regression model was 0,187, which means that Total
Assets Turnover (TATO), Fixed Assets Turnover (FATO), Debt Ratio and Debt to
Equity Ratio (DER) affect the Dividend Payout Ratio as much 18,7%, and the

remaining 81,3% is explained by other factors not included in this study.
Keywords : Total Assets Turnover (TATO), Fixed Asset Turnover (FATO),
Debt Ratio dan Debt to Equity Ratio (DER) and Dividend Payout
Ratio.