Pengaruh Insider Ownership, Risiko Pasar, dan Debt to Equity Ratio Terhadap Kebijakan Dividen Pada Perusahaan Manufaktur Yang Terdapat di Bursa Efek Indonesia

ABSTRACT
EFFECT OF INSIDER OWNERSHIP , MARKET RISKS , AND DEBT TO
EQUITY RATIO ON DIVIDEND POLICY CONTAINED IN
MANUFACTURING COMPANY IN INDONESIA STOCK EXCHANGE
This study aimed to analyze the effect of insider ownership, market
risk, and the debt to equity ratio to dividend payout ratio. This research
collects empirical evidence. The population in this study is a
manufacturing company that go public and listed in the Indonesia Stock
Exchange (BEI) during the years 2012-2014. The method used in the
selection of this sample is purposive sampling, the method of selecting a
sample with some specific criteria.
Based on this research, the simultaneous influence insider ownership,
market risk, and the debt to equity ratio to dividend payout ratio is
statistically significant. Partially, insider ownership significant on the
dividend payout ratio. While market risk and the debt to equity ratio,
partially, not significant to the dividend payout ratio.
Keywords:
payout ratio

Insider ownership, Market risk, Debt to equity ratio, Dividend

Universitas Sumatera Utara

ABSTRAK
PENGARUH INSIDER OWNERSHIP, RISIKO PASAR, DAN DEBT TO
EQUITY RATIO TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN
MANUFAKTUR YANG TERDAPAT DI BURSA EFEK INDONESIA
Penelitian ini bertujuan untuk menganalisis pengaruh variabel
insider ownership, risiko pasar, dan debt to equity ratio terhadap divident
payout ratio. Penelitian ini mengumpulkan bukti-bukti empiris. Populasi
dalam penelitian ini adalah perusahaan manufaktur yang go public dan
terdaftar di Bursa Efek Indonesia (BEI) selama tahun 2012-2014. Metode
yang digunakan dalam pemilihan sampel ini adalah purposive sampling,
yaitu metode pemilihan sampel dengan beberapa kriteria tertentu.
Berdasarkan hasil penelitian, diketahui pengaruh variabel insider
ownership, risiko pasar, dan debt to equity ratio memiliki pengaruh
simultan yang signifikan terhadap divident payout ratio. Secara parsial,
variabel insider ownership berpengaruh dan signifikan terhadap dividend
payout ratio. Sementara variabel risiko pasar dan debt to equity ratio
secara parsial tidak berpengaruh terhadap dividend payout ratio.
Kata kunci:

payout ratio

Insider ownership, Risiko pasar, Debt to equity ratio, Dividend

Universitas Sumatera Utara