Analisis Pengaruh Laba Akuntansi dan Laba Tunai terhadap Dividen Kas dengan Likuiditas sebagai Variabel Moderasi pada Perusahaan Manufaktur di Bursa Efek Indonesia

  INCI Intan Wijaya International Tbk √ - -

  Sampel 3

  22 MYRX Hanson International Tbk √ - -

  Sampel 8

  21 LMSH Lionmesh Prima Tbk √ √ √

  Sampel 7

  ITMA Itamaraya Tbk √ - -

  INAI Indai Aluminium Industry Tbk √ √ -

  10 ALKA Alaska Industrindo Tbk √ - -

  Sampel 6

  6 IKAI Inti Keramik Alam Asri Industri Tbk √ - -

  Sampel 5

  5 ARNA Arwana Citra Mulia Tbk √ √ √

  Sampel 4

  4 AMFG Asahimas Flat Glass Tbk √ √ √

  3 SMGR Semen Gresik Tbk √ √ √

  Sampel 2

  2 SMCB Holcim Indonesia Tbk √ √ √

  Sampel 1

  1 INTP Indocement Tunggal Prakasa Tbk √ √ √

  3

  2

  1

  Sampel

  No Kode Nama Perusahaan Kriteria

  Lampiran 1 Daftar Populasi dan Sampel Perusahaan Manufaktur di BEI

• 7 KIAS Keramika Indonesia Assosiasi Tbk √ - √
• 8 MLIA Mulia Industrindo Tbk √ - -
• 9 TOTO Surya Toto Indonesia Tbk √ √ √

• 11 ALMI Alumindo Light Metal Industry Tbk √ - √
• 12 BTON Beton Jaya Manunggal Tbk √ √ -
• 13 CTBN Citra Turbindo Tbk √ - √
• 14 GDST Gunawan Dianjaya Steel Tbk √ √ -
• 15
• 16

• 17 JKSW Jakarata Kyoei Steel Work LTD Tbk √ - -
• 18 JPRS Jaya Pari Steel Tbk √ √ -
• 19 KRAS Krakatau Steel Tbk √ √ -
• 20 LION Lion Metal Works Tbk √ √ √

• 23 NIKL Pelat Timah Nusantara Tbk √ - -
• 24 PICO Pelangi Indah Canindo Tbk √ √ -
• 25 TBMS Tembaga Mulia Semanan Tbk √ - -
• 26 BRPT Barito Pasific Tbk √ - -
• 27 BUDI Budi Acid Jaya Tbk √ √ -
• 28 DPNS Duta Pertiwi Nusantara √ - -
• 29 EKAD Ekadharma International Tbk √ - √
• 30 ETWA Eterindo Wahanatama Tbk √ √ -
• 31

• 32 SOBI Sorini Agro Asia Corporindo Tbk √ - -
• 33 SRSN Indo Acitama Tbk √ √ -
• 34 TPIA Chandra Asri Petrochemical √ - √
• 35 UNIC Unggul Indah Cahaya Tbk √ - √
• 36 AKKU Alam Karya Unggul Tbk √ - -
• 37 AKPI Argha Karya Prima Industry Tbk √ √ -
• 38 APLI Asiaplast Industries Tbk √ √ -
• 39 BRNA Berlina Tbk √ - √
>40 FPNI Titan Kimia Nusantara Tbk √ - -

No Kode Nama Perusahaan Kriteria

• 43 SIAP Sekawan Intipratama Tbk √ - -
• 44 SIMA Siwani Makmur Tbk √ - -
• 45 TRST Trias Sentosa Tbk √ √ √ Sampel 10
• 47 CPIN Charoen Pokphand Indonesia Tbk √ √ √ Sampel 11
• 49 MAIN Malindo Feedmill Tbk √ √ √ Sampel 12
• 52 SULI Sumalindo Lestari Jaya Tbk √ - -
• 54 ALDO Alkindo Naratama Tbk √ √ -
• 55 FASW Fajar Surya Wisesa Tbk √ - -
• 56
• 57

  48 JPFA Japfa Comfeed Indonesia Tbk √ - √

  74 ADMG Polychem Indonesia Tbk √ √ -

  INDS Indospring Tbk √ √ -

  IMAS Indomobil Sukses International Tbk √ √ -

  64 BRAM Indo Kordsa Tbk √ - √

  63 AUTO Astra Auto Part Tbk √ √ √ Sampel 14

  Kertas Tbk

  INRU Toba Pulp Lestari Tbk √ - -

  INKP Indah Kiat Pulp & Paper Tbk √ √ -

  50 MBAI Multibreeder Adirama Indonesia Tbk √ - -

  46 YPAS Yana Prima Hasta Persada Tbk √ √ -

  42 IPOL Indopoly Swakarsa Industry Tbk √ - √

  3

  2

  1

  Sampel

• 51 SIPD Siearad Produce Tbk √ √ -
• 53 TIRT Tirta Mahakam Resources Tbk √ - -

• 58 KBRI Kertas Basuki Rachmat Indonesia Tbk √ - -
• 59 SAIP Surabaya Agung Industri Pulp &
• √ -
• 60 SPMA Suparma Tbk √ - √
• 61 TKIM Parik Kertas Tjiwi Kimia Tbk √ - √
• 62 ASII Astra International Tbk √ √ √ Sampel 13
• 65 GDYR Goodyear Indonesia Tbk √ - -
• 66 GJTL Gajah Tunggal Tbk √ - √
• 67

• 68

• 69 LPIN Multi Prima Sejahtera Tbk √ √ -
• 70 MASA Multistrada Arah Sarana Tbk √ - -
• 71 NIPS Nippress TBk Tbk √ √ -
• 72 PRAS Prima Alloy Steel Universal Tbk √ √ -
• 73 SMSM Selamat Sempurna Tbk √ √ √ Sampel 15

• 75 ARGO Argo Pantes Tbk √ - -
• 76 CNTX Centex Tbk √ - -
• 77 ERTX Eratex Djaya Tbk √ √ -
• 78 ESTI Ever Shine Textile Industry Tbk √ √ √
• 79 HDTX Pan Asia Indosyntec Tbk √ - -
• 80

  INDR Indo Rama Synthetic Tbk √ - √

• 81 KARW Karwell Indonesia Tbk √ - -
• 82 MYTX Apac Citra Centertex Tbk √ - -
• 83 PAFI Pan Asia Filament Inti Tbk - - - -

Sampel

  No Kode Nama Perusahaan Kriteria

  1

  2

  3

  84 PBRX Pan Brothers Tbk √ √ -

• 85 POLY Asia Pasific Fibers Tbk √ - -
• 86 RICY Ricky Putra Globalindo Tbk √ √ -
• 87 SSTM Sunson Textile Manufacturer Tbk √ - -
• 88 UNIT Nusantara Inti Corpora Tbk √ √ -
• 89 UNTX Unitex Tbk √ - -
• 90 BATA Sepatu Bata Tbk √ √ -
• 91 BIMA Pimarindo Asia Infrastructure Tbk √ - -
• 92 SIMM Surya Intrindo Makmur Tbk - - - -
• 94 JECC Jembo Cable Company Tbk √ √ -
• 95 KBLI KMI Wire and Cable Tbk √ √ -
• 96 KBLM Kabelindo Murni Tbk √ - √
• 97 SCCO Supreme Cable Manufacturing and
• 98

  93 IKBI Sumi Indo Kabel Tbk √ - √

  Commerce Tbk √ - √

  VOKS Vokesel Electric Tbk √ √ -

• 99 PTSN Sat Nusa Persada Tbk √ - -
• 100 ADES Akasha Wira International Tbk √ √ -
• 101 AISA Tiga Pilar Sejahtera Food Tbk √ √ -
• 102 CEKA Cahaya Kalbar Tbk √ √ -
• 103 DAVO Davomas Abadi Tbk - - - - 104 DLTA Delta Djakarta Tbk √ √ -
• 105 ICBP Indofood CBP Sukses Makmur Tbk √ √ √ Sampel 16 106 INDF Indofood Sukses Makmur Tbk √ √ √ Sampel 17 107 MLBI Multi Bintang Indonesia Tbk √ √ √ Sampel 18 108 MYOR Mayora Indah Tbk √ - √
• 109 PSDN Prashida Aneka Niaga Tbk - - - - 110 ROTI Nippon Indosari Corporindo Tbk √ √ -
• 111 SKLT Sekar Laut Tbk √ √ √ Sampel 19 112 STTP Siantar Top Tbk √ √ -
• 113 ULTJ Ultrajaya Milk Industry and Trading Company Tbk √ √ -
• 114 GGRM Gudang Garam Tbk √ - √
• 115 HMSP Hanjaya Mandala Sampoerna Tbk √ √ √ Sampel 20 116 RMBA Bentoel International Investama Tbk √ - -
• 117 DVLA Darya Varia Laboratoria Tbk - -

  √

• 118 INAF Indofarma Tbk √ - -
• 119 KAEF Kimia Farma Tbk √ √ √ Sampel 21 120 KLBF Kalbe Farma Tbk √ √ √ Sampel 22 121 MERK Merck Tbk √ √ √ Sampel 23 122 PYFA Pyridam Farma Tbk √ √ -
• 123 SCPI Schering Plogh Indonesia Tbk - - - - 124 SQBI Taisho Pharmaceutical Indonesia Tbk - -

  √

No Kode Nama Perusahaan Kriteria

  1

  Sampel

  2

  3 126 MRAT Mustika Ratu Tbk √ - √

• 127 TCID Mandom Indonesia Tbk √ √ √ Sampel 25 128 UNVR Unilever Indonesia Tbk √ √ -
• 129 KDSI Kedawung Setia Industrial Tbk √ √ -
• 130 KICI Kedaung Indag Can Tbk √ √ -
>131 LMPI Langgeng Makmur Industry Tbk √ - -

  Lampiran 2 Daftar Sampel Perusahaan Manufaktur di BEI

  13 LION Lion Metal Works

  24 TSPC Tempo Scan Pacific Tbk

  23 TRST Trias Sentosa Tbk

  22 TOTO Surya Toto Indonesia Tbk

  21 SMSM Selamat Sempurna Tbk

  20 SMGR Semen Gresik Tbk

  19 SMCB Holcom Indonesia Tbk

  18 SKLT Sekar Laut Tbk

  17 MLBI Multi Bintang Indonesia Tbk

  16 MERK Merck Tbk

  15 MAIN Malindo Feedmill Tbk

  14 LMSH Lionmesh Prima Tbk

  12 KLBF Kalbe Farma Tbk

  No Kode Nama Perusahaan

  11 KAEF Kimia Farma Tbk

  10 INTP Indocement Tunggal Prakarsa Tbk

  9 INDF Indofood Sukses Makmur Tbk

  8 IGAR Champion Pacific Indonesia Tbk

  7 ICBP Indofood CBP Sukses Makmur Tbk

  6 HMSP Hanjaya Mandala Sampoerna Tbk

  5 CPIN Charoen Pokphand Indonesia Tbk

  4 AUTO Astra Auto Part Tbk

  3 ASII Astra International Tbk

  2 ARNA Arwana Citra Mulia Tbk

  1 AMFG Asahimas Flat Glass Tbk

  25 TCID Mandom Indonesia Tbk

  Lampiran 3 Daftar Dividen Kas Perusahaan Manufaktur di BEI

  No Kode 2010 2011 2012 perusahaan

  1 AMFG 34720000000 34720000000 34720000000

  2 ARNA 27836566160 37096454880 74043709760

  3 ASII 6500000000000 8000000000000 8700000000000

  4 AUTO 456500000000 404900000000 419300000000

  5 CPIN 652640000000 688716000.000 754308000000

  6 HMSP 6420000000000 7660000000000 9945027000000

  7 ICBP 676391000000 985431000000 1084557000000

  8 IGAR 25305112500 24305112500 19444090000

  9 INDF 1167797000000 1536575000000 1624380000000

  10 INTP 968163000000 1078601000000 1656554000000

  11 KAEF 27743208820 34353097492 30769997495

  12 KLBF 964821370090 964821370090 964821370090

  13 LION 10403200000 15604800000 20806400000

  14 LMSH 480000000 960000000 1440000000

  15 MAIN 39985000000 42375000000 61020000000

  16 MERK 99993600000 185248000000 77968000000

  17 MLBI 448349000000 507239000000 453343000000

  18 SKLT 1381481000 1381481000 2072221500

  19 SMCB 176247000000 421460000000 613032000000

  20 SMGR 1816587315200 1962680652800 2181257164800

  21 SMSM 136768541700 143966886000 151165230000

  22 TCID 68362666780 74394666790 74394666790

  23 TOTO 74304000000 99072000000 99072000000

  24 TRST 56160000000 56160000000 28080000000

  25 TSPC 315000000000 337500000000 337500000000

  Lampiran 4 Daftar Laba Akuntansi Perusahaan Manufaktur di BEI

  No Kode 2010 2011 2012

  1 AMFG 330973000000 336995000000 346609000000

  2 ARNA 80114048978 95949405045 158684349130

  3 ASII 17004000000000 21077000000000 22742000000000

  4 AUTO 1141179000000 1101583000000 1135914000000

  5 CPIN 2219861000000 2362497000000 2680872000000

  6 HMSP 6422748000000 8064426000000 9945296000000

  7 ICBP 1827909000000 2066365000000 2282371000000

  8 IGAR 53269906291 55322166080 44507701367

  9 INDF 3934808000000 4891673000000 4779446000000

  10 INTP 3224681000000 3601516000000 4763388000000

  11 KAEF 138716458866 171763175754 205763997378

  12 KLBF 1346097557038 1522956820292 1775098847932

  13 LION 38631299358 52535147701 85373721654

  14 LMSH 7350536344 10897341682 41282515026

  15 MAIN 179906030000 204966319000 302421030000

  16 MERK 118794278000 231158647000 107808155000

  17 MLBI 443050000000 507382000000 578080000000

  18 SKLT 4833843650 5976790919 7962693771

  19 SMCB 830382000000 1063560000000 1350791000000

  20 SMGR 3633219982000 3955272512000 4926639847000

  21 SMSM 164849571377 241576270793 286929498426

  22 TCID 131445098783 140038819641 150373851969

  23 TOTO 193797649353 218124016284 235945643357

  24 TRST 136727109110 145226055096 61453058755

  25 TSPC 494760795087 586362346430 635176093653

  Lampiran 5 Daftar Laba Tunai Perusahaan Manufaktur di BEI

  No Kode 2010 2011 2012 perusahaan

  1 AMFG 481895000000 335387000000 411135000000

  2 ARNA 115491387547 143852597433 237695889064

  3 ASII 3391000000000 10011000000000 8932000000000

  4 AUTO 3744778000000 258576000000 537785000000

  5 CPIN 2408406000000 1094134000000 1689376000000

  6 HMSP 7059975000000 11088270000000 4087495000000

  7 ICBP 2252042000000 2174427000000 3053526000000

  8 IGAR 84926087634 26838860043 32191725185

  9 INDF 6989734000000 4976035000000 7419046000000

  10 INTP 3390048000000 3883711000000 5674822000000

  11 KAEF 139119874007 82611057157 230612654491

  12 KLBF 1253907863696 1473495223306 1376343990025

  13 LION 32525842443 40207285424 66606219113

  14 LMSH 9647718776 5100086069 10588729023

  15 MAIN 148915331000 66218691000 293046848000

  16 MERK 159583168000 156230625000 88404562000

  17 MLBI 320056000000 671755000000 539860000000

  18 SKLT 8089259673 10232581561 15259831786

  19 SMCB 1061234000000 2086236000000 1692112000000

  20 SMGR 3359368278000 4415753320000 5591864816000

  21 SMSM 145094611835 243517273152 411044895169

  22 TCID 157211148765 73140815235 250437433262

  23 TOTO 156057916260 253997021169 188137480794

  24 TRST 135166096410 131729690468 76503968063

  25 TSPC 578089303003 587799605916 635028604390

  Lampiran 6 Rasio Pembayaran Dividen Kas Perusahaan Manufaktur di BEI

  17 MLBI

  0.40

  0.21

  19 SMCB

  0.26

  0.23

  0.17

  18 SKLT

  0.78

  1.00

  1.00

  0.74

  20 SMGR

  0.80

  0.84

  16 MERK

  0.20

  0.18

  0.22

  15 MAIN

  0.04

  0.09

  0.06

  0.45

  0.50

  0.24

  0.42

  0.44

  0.44

  0.53 Rata-rata

  0.57

  0.64

  25 TSPC

  0.46

  0.39

  0.41

  24 TRST

  0.45

  0.50

  0.38

  23 TOTO

  0.50

  0.53

  0.52

  22 TCID

  0.53

  0.60

  0.83

  21 SMSM

  0.45

  14 LMSH

  0.30

  No Kode 2010 2011 2012

  0.38

  1.00

  6 HMSP

  0.28

  0.29

  0.29

  5 CPIN

  0.37

  0.37

  0.40

  4 AUTO

  0.38

  1.00

  0.38

  3 ASII

  0.47

  0.39

  0.35

  2 ARNA

  0.10

  0.10

  0.10

  1 AMFG

  0.95

  7 ICBP

  0.27

  0.30

  13 LION

  0.54

  0.63

  0.72

  12 KLBF

  0.15

  0.20

  0.20

  11 KAEF

  0.35

  0.30

  0.37

  10 INTP

  0.34

  0.31

  0.30

  9 INDF

  0.44

  0.44

  0.46

  8 IGAR

  0.48

  0.48

  0.42

  Lampiran 7 Cash Ratio Perusahaan Manufaktur di BEI

  13 LION 5,184 3,751 4,790

  24 TRST 0,132 0,097 0,069

  23 TOTO 0,596 0,481 0,446

  22 TCID 2,258 1,570 1,356

  21 SMSM 0,047 0,063 0,128

  20 SMGR 1,455 1,168 0,638

  19 SMCB 0,789 0,669 0,357

  18 SKLT 0,106 0,151 0,051

  17 MLBI 0,033 0,376 0,124

  16 MERK 2,052 3,878 1,198

  15 MAIN 0,334 0,169 0,106

  14 LMSH 0,054 0,197 1,376

  12 KLBF 1,659 1,405 0,983

  No Kode perusahaan 2010 2011 2012

  11 KAEF 0,565 0,434 0,589

  10 INTP 3,476 4,649 4,330

  9 INDF 1,058 1,017 1,020

  8 IGAR 3,763 2,465 0,826

  7 ICBP 1,261 1,479 1,532

  6 HMSP 0,328 0,244 0,066

  5 CPIN 0,001 0,556 0,440

  4 AUTO 0,388 0,193 0,237

  3 ASII 0,189 0,271 0,204

  2 ARNA 0,130 0.039 0,162

  1 AMFG 1,660 1,762 1,519

  25 TSPC 1,783 1,589 1,505

  Lampiran 8 Hasil Output SPSS

Descriptive Statistics

  N Minimum Maximum Mean Std. Deviation Dividen Kas 63 480000000

  2.E12

  4.40E11 5.626E11 Laba Akuntansi 63 4833531934

  5.E12

  1.04E12 1.301E12 Laba Tunai 63 5100086069

  7.E12

  1.27E12 1.831E12 Valid N (listwise)

  63

  One-Sample Kolmogorov-Smirnov Test

  Unstandardized Residual

  N _a,,b

  63 Normal Parameters Mean -.0000036 Std. Deviation 2.00741995E11

  Most Extreme Differences Absolute .159 Positive .140 Negative -.159

  Kolmogorov-Smirnov Z 1.260

  Asymp. Sig. (2-tailed) .084 a. Test distribution is Normal.

  b. Calculated from data.

  

Model Summary

^b

  b. Dependent Variable: Dividen Kas

  VIF 1 (Constant) 2.579E10 3.299E10 .782 .437 Laba Akuntansi .312 .045 .721 6.970 .000 .198 5.040 Laba Tunai .071 .032 .232 2.243 .029 .198 5.040

  B Std. Error Beta Tolerance

  Collinearity Statistics

  Coefficients t Sig.

  Coefficients Standardized

  Model Unstandardized

  

Coefficients

^a

  a. Predictors: (Constant), Laba Tunai, Laba Akuntansi

  Model R R Square Adjusted R

  62

  1 Regression 1.713E25 2 8.564E24 205.668 .000 ^a Residual 2.498E24 60 4.164E22 Total 1.963E25

  

ANOVA

^b Model Sum of Squares df Mean Square F Sig.

  b. Dependent Variable: Dividen Kas

  a. Predictors: (Constant), Laba Tunai, Laba Akuntansi

  Estimate Durbin-Watson 1 .934 ^a .873 .868 2.041E11 2.234

  Square Std. Error of the

  a. Dependent Variable: Dividen Kas

  Uji Signifikan Likuiditas dalam Memoderasi Pengaruh Laba Akuntansi terhadap Dividen Kas

Coefficients

^a

  Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta

1 (Constant) 3.442E11 1.085E11 3.173 .002

  Laba Akuntansi (Cash Ratio) 1.252E11 1.079E11 .147 1.160 .250

  a. Dependent Variable: DividenKas Uji Signifikan Likuiditas dalam Memoderasi Pengaruh Laba Tunai terhadap Dividen Kas

  

Coefficients

^a Model Unstandardized Coefficients

  Standardized Coefficients t Sig. B Std. Error Beta

1 (Constant) 3.503E11 1.085E11 3.227 .002

  Laba Tunai (Cash Ratio) 1.142E11 1.052E11 .138 1.086 .282

  a. Dependent Variable: DividenKas

Lampiran 9 Tabel Durbin- Watson (DW), α = 5%

  k=1 k=2 k=3 k=4 k=5 N dL dU dL dU dL dU dL dU dL dU 60 1.5485 1.6162 1.5144 1.6518 1.4797 1.6889 1.4443 1.7274 1.4083 1.7671

  61 1.5524 1.6189 1.5189 1.6540 1.4847 1.6904 1.4499 1.7281 1.4146 1.7671 62 1.5562 1.6216 1.5232 1.6561 1.4896 1.6918 1.4554 1.7288 1.4206 1.7671 63 1.5599 1.6243 1.5274 1.6581 1.4943 1.6932 1.4607 1.7296 1.4265 1.7671 64 1.5635 1.6268 1.5315 1.6601 1.4990 1.6946 1.4659 1.7303 1.4322 1.7672 65 1.5670 1.6294 1.5355 1.6621 1.5035 1.6960 1.4709 1.7311 1.4378 1.7673 66 1.5704 1.6318 1.5395 1.6640 1.5079 1.6974 1.4758 1.7319 1.4433 1.7675 67 1.5738 1.6343 1.5433 1.6660 1.5122 1.6988 1.4806 1.7327 1.4486 1.7676 68 1.5771 1.6367 1.5470 1.6678 1.5164 1.7001 1.4853 1.7335 1.4537 1.7678 69 1.5803 1.6390 1.5507 1.6697 1.5205 1.7015 1.4899 1.7343 1.4588 1.7680 70 1.5834 1.6413 1.5542 1.6715 1.5245 1.7028 1.4943 1.7351 1.4637 1.7683 71 1.5865 1.6435 1.5577 1.6733 1.5284 1.7041 1.4987 1.7358 1.4685 1.7685 72 1.5895 1.6457 1.5611 1.6751 1.5323 1.7054 1.5029 1.7366 1.4732 1.7688 73 1.5924 1.6479 1.5645 1.6768 1.5360 1.7067 1.5071 1.7375 1.4778 1.7691 74 1.5953 1.6500 1.5677 1.6785 1.5397 1.7079 1.5112 1.7383 1.4822 1.7694 75 1.5981 1.6521 1.5709 1.6802 1.5432 1.7092 1.5151 1.7390 1.4866 1.7698