Analisis Faktor Yang Mempengaruhi Kebijakan Jumlah Dividen Kas Perusahaan di PT Bursa Efek Indonesia (Perusahaan Manufaktur Jenis Consummer Goods Bursa Efek Indonesia 2004 - 2007)
LAMPIRAN I
KODE
EMITEN CONSUMER GOODs INDUSTRY
NAMA PERUSAHAAN
51
ADES
AISA
AQUA
CEKA
DAVO
DLTA
INDF
MLBI
MYOR
PSDN
SKLT
STTP
ULTJ
FOOD AND BEVERAGE
ADES WATERS INDONESIA
TIGA PILAR SEJAHTERA FOOD
AQUA GOLDEN MISSISSI
CAHAYA KALBAR
DAVOMAS ABADI
DELTA DJAKARTA
INDOFOOD SUKSES MAKMUR
MULTI BINTANG INDONESIA
MAYORA INDAH
PRASIDHA ANEKA NIAGA
SEKAR LAUT
SIANTAR TOP
ULTRA JAYA MILK
52
BATI
GGRM
HMSP
RMBA
TOBACCO MANUFACTURES
BAT INDONESIA
GUDANG GARAM
HM SAMPOERNA
BENTOEL INTERNATIONAL
53
DVLA
INAF
KAEF
KLBF
MERK
PYFA
SCPI
TSCP
PHARMACEUTICALS
DARYA-VARIA LABORATORIA
INDOFARMA
KIMIA FARMA
KALBE FARMA
MERCK
PYRIDAM FARMA
SCHERING PLOUGH INDONESIA
TEMPO SCAN PACIFIC
54
MRAT
TCID
UNVR
COSMETICS AND HOUSEHOLD
MUSTIKA RATU
MANDOM INDONESIA
UNILEVER INDONESIA
55
KDSI
KICI
LMPI
HOUSEWARE
KEDAWUNG SETIA INDUSTRIAL
KEDAUNG INDAH CAN
LANGGENG MAKMUR PLASTIC I
Universitas Sumatera Utara
ESTABILISHED DATE
LISTING DATE
06/Mar/85
26/Jan/90
23/Feb/73
09/Dec/80
14/Mar/68
15/Jun/70
14/Aug/90
03/Jun/29
17/Feb/77
16/Apr/74
19/Jul/76
12/May/87
02/Nov/71
13/Jun/94
11/Jun/97
01/Mar/90
09/Jul/96
22/Dec/94
27/Feb/84
14/Jul/94
15/Dec/81
04/Jul/90
18/Oct/94
08/Sep/93
16/Dec/96
02/Jul/90
31 Maret 1905
26 Juni 1958
27 Maret 1905
19 Januari 1979
20 Desember 1979
27 Agustus 1990
15 Agustus 1990
05 Maret 1990
05 Februari 1976
02 Januari 1996
23 Januari 1969
10/Sep/66
14 Oktober 1970
27 Nopember 1976
07 Maret 1972
20 Mei 1970
11 Nopember 1994
17/Apr/01
04 Juli 2001
30 Juli 1991
23 Juli 1981
16 Oktober 2001
08 Juni 1990
17 Juni 1994
14 Maret 1978
05 Nopember 1969
05 Desember 1933
27 Juli 1995
30/Sep/93
11 Januari 1982
09 Januari 1973
11 Januari 1974
30/Nov/72
29 Januari 1996
28 Oktober 1993
17/Oct/94
Universitas Sumatera Utara
ROE (%)
2004
2005
(428.81)
2006
135.67
2007
59.44
(230.76)
0.09
0.04
0.14
14.21
25.77
15.88
10.92
12.99
(12.08)
(12.06)
7.87
11.27
14.35
11.55
20.11
17.60
10.90
13.89
10.02
10.32
9.23
2.88
13.13
13.76
34.99
38.18
37.08
42.68
9.79
5.11
9.65
13.09
0.79
(147.44)
(12.85)
10.35
(11.26)
(530.05)
(5.12)
(5.96)
8.99
3.24
4.21
4.35
0.54
0.56
1.81
3.65
(5.19)
4.62
(17.70)
(10.18)
14.69
14.41
7.66
10.22
40.99
52.08
62.00
44.94
7.69
9.71
12.22
15.76
15.61
18.32
12.74
10.80
2.83
3.62
5.43
3.80
9.55
6.26
5.05
5.75
28.19
27.35
22.59
20.84
37.16
31.99
36.74
31.93
2.30
2.09
2.65
2.60
(17.47)
(83.25)
171.38
142.80
19.16
16.55
14.03
13.16
5.31
3.33
3.44
3.98
20.74
20.21
16.48
16.51
64.83
66.27
72.69
72.88
28.64
(9.33)
4.71
6.52
(19.91)
(13.21)
(25.29)
25.05
(1,183.97)
34.79
0.88
3.18
Universitas Sumatera Utara
DER
2004
2005
2006
2007
2.40
-
-
-
2.60
2.76
2.82
3.65
0.87
0.78
0.77
0.74
0.43
0.87
0.44
1.80
1.29
1.24
1.77
2.27
0.28
0.32
0.32
0.29
2.56
2.33
2.10
2.62
1.22
1.52
2.08
2.14
0.46
0.61
0.58
0.73
-
2.31
1.87
2.14
-
4.45
0.79
0.90
0.48
0.45
0.36
0.44
0.61
0.54
0.53
0.64
0.77
0.64
0.74
1.01
0.69
0.69
0.65
0.69
1.34
1.55
1.21
0.94
0.86
0.65
0.97
1.50
0.35
0.41
0.35
0.21
1.05
0.96
1.45
2.46
0.44
0.39
0.45
0.53
1.43
0.78
0.36
0.33
0.30
0.21
0.20
0.18
0.13
0.21
0.27
0.42
29.75
70.30
-
70.47
0.23
0.26
0.23
0.26
0.19
0.14
0.10
0.13
0.19
0.19
0.11
0.08
0.61
0.76
0.95
0.98
3.36
3.85
1.82
1.44
0.85
1.09
1.39
0.28
117.70
0.35
0.35
0.36
Universitas Sumatera Utara
Harga Saham (Stock Price)
2004
2005
2006
2007
2,257.00
1,660.00
1,110.00
730.00
210.00
215.00
175.00
750.00
48,000.00
63,000.00
110,000.00
129,500.00
300.00
600.00
590.00
800.00
200.00
80.00
590.00
250.00
14,500.00
36,000.00
22,800.00
16,000.00
800.00
910.00
1,350.00
2,575.00
42,500.00
50,000.00
55,000.00
55,000.00
1,200.00
820.00
1,620.00
1,750.00
105.00
80.00
100.00
51.00
450.00
400.00
285.00
75.00
180.00
150.00
210.00
370.00
425.00
310.00
435.00
650.00
9,000.00
7,500.00
4,000.00
4,600.00
13,550.00
11,650.00
10,200.00
8,500.00
6,650.00
8,900.00
9,700.00
14,300.00
110.00
135.00
310.00
560.00
700.00
750.00
1,510.00
1,600.00
170.00
115.00
100.00
215.00
205.00
145.00
165.00
305.00
550.00
990.00
1,190.00
1,260.00
22,800.00
24,300.00
40,000.00
52,500.00
60.00
45.00
50.00
81.00
11,500.00
11,000.00
9,000.00
21,500.00
7,600.00
5,650.00
900.00
750.00
410.00
270.00
320.00
295.00
4,000.00
4,100.00
6,950.00
8,400.00
3,300.00
4,275.00
6,600.00
6,750.00
130.00
80.00
140.00
275.00
195.00
195.00
105.00
135.00
85.00
155.00
170.00
160.00
Universitas Sumatera Utara
DPR
2004
2005
2006
-
-
-
-
-
-
16.96
16.98
-
-
-
-
-
-
-
14.48
19.87
-
43.94
38.08
49.99
72.39
76.64
75.60
0.23
0.42
0.29
-
-
-
-
-
-
-
-
-
-
319.00
-
-
-
-
53.74
50.91
47.73
60.51
36.78
18.00
-
-
-
-
-
-
-
-
-
0.29
0.32
0.30
5.41
-
0.15
54.79
54.35
51.77
-
-
-
-
-
-
-
Universitas Sumatera Utara
-
0.41
LAMPIRAN II
Statistik Deskriptif
Descriptive Statistics
N
Minimum
Maximum
Mean
Std. Deviation
DPR_Y
124
.00
319.00
14.0846
35.38299
ROE_X1
124
-1183.97
171.38
-5.0008
129.85811
DER_X2
124
.00
117.70
3.2396
13.83662
HargaSaham_X3
124
45.00
129500.00
8411.1613
19499.46616
Valid N (listwise)
124
Universitas Sumatera Utara
LAMPIRAN III
Uji Asumsi Klasik
Pengujian One Sample Kolmogorov Smirnov Test.
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
124
a
Normal Parameters
Mean
.0000000
Std. Deviation
Most Extreme Differences
1.45058910
Absolute
.103
Positive
.103
Negative
-.048
Kolmogorov-Smirnov Z
1.146
Asymp. Sig. (2-tailed)
.145
a. Test distribution is Normal.
Uji Multikolinearitas
Collinearity Statistics
Model
1
Tolerance
VIF
(Constant)
Log_ROE
.715
1.399
Log_DER
.966
1.035
Log_HRG_S
HM
.736
1.359
a. Dependent Variable: Log DPR
Universitas Sumatera Utara
Uji Glesjer (1)
ANOVAb
Sum of
Squares
Model
1
Mean
Square
df
Regression
130.655
3
43.552
Residual
258.818
120
2.157
Total
389.473
123
F
Sig.
20.193 .000a
a. Predictors: (Constant), Log_HRG_SHM, Log_DER, Log_ROE
b. Dependent Variable: Log_DPR
Uji Glesjer (2)
Coefficientsa
Standardized
Unstandardized Coefficients Coefficients
Model
1
B
(Constant)
Std. Error
Beta
t
Sig.
16.582
2.838
5.842 .000
ROE
.011
.025
.049
.428 .669
DER
.004
.235
.002
.018 .986
HRG_SHM
.000
.000
.196 2.177 .051
a. Dependent Variable: Abs_Ut
Uji Autokorelasi
Model Summaryb
Model
1
R
.579a
R Square
Adjusted R
Square
.335
.319
Std. Error of
the Estimate
DurbinWatson
1.46861
2.050
a. Predictors: (Constant), Log_HRG_SHM, Log_DER, Log_ROE
b. Dependent Variable: Log_DPR
Universitas Sumatera Utara
LAMPIRAN IV
Pembahasan Penelitian
Koefisien Determinasi
Model Summaryb
Model
R
.579a
1
R Square
Adjusted R
Square
.335
Std. Error of
the Estimate
.319
DurbinWatson
1.46861
2.050
a. Predictors: (Constant), Log_HRG_SHM, Log_DER, Log_ROE
b. Dependent Variable: Log_DPR
Uji F (Uji Simultan)
ANOVAb
Sum of
Squares
Model
1
Mean
Square
df
Regression
130.655
3
43.552
Residual
258.818
120
2.157
Total
389.473
123
F
Sig.
20.193 .000a
a. Predictors: (Constant), Log_HRG_SHM, Log_DER, Log_ROE
b. Dependent Variable: Log_DPR
Universitas Sumatera Utara
KODE
EMITEN CONSUMER GOODs INDUSTRY
NAMA PERUSAHAAN
51
ADES
AISA
AQUA
CEKA
DAVO
DLTA
INDF
MLBI
MYOR
PSDN
SKLT
STTP
ULTJ
FOOD AND BEVERAGE
ADES WATERS INDONESIA
TIGA PILAR SEJAHTERA FOOD
AQUA GOLDEN MISSISSI
CAHAYA KALBAR
DAVOMAS ABADI
DELTA DJAKARTA
INDOFOOD SUKSES MAKMUR
MULTI BINTANG INDONESIA
MAYORA INDAH
PRASIDHA ANEKA NIAGA
SEKAR LAUT
SIANTAR TOP
ULTRA JAYA MILK
52
BATI
GGRM
HMSP
RMBA
TOBACCO MANUFACTURES
BAT INDONESIA
GUDANG GARAM
HM SAMPOERNA
BENTOEL INTERNATIONAL
53
DVLA
INAF
KAEF
KLBF
MERK
PYFA
SCPI
TSCP
PHARMACEUTICALS
DARYA-VARIA LABORATORIA
INDOFARMA
KIMIA FARMA
KALBE FARMA
MERCK
PYRIDAM FARMA
SCHERING PLOUGH INDONESIA
TEMPO SCAN PACIFIC
54
MRAT
TCID
UNVR
COSMETICS AND HOUSEHOLD
MUSTIKA RATU
MANDOM INDONESIA
UNILEVER INDONESIA
55
KDSI
KICI
LMPI
HOUSEWARE
KEDAWUNG SETIA INDUSTRIAL
KEDAUNG INDAH CAN
LANGGENG MAKMUR PLASTIC I
Universitas Sumatera Utara
ESTABILISHED DATE
LISTING DATE
06/Mar/85
26/Jan/90
23/Feb/73
09/Dec/80
14/Mar/68
15/Jun/70
14/Aug/90
03/Jun/29
17/Feb/77
16/Apr/74
19/Jul/76
12/May/87
02/Nov/71
13/Jun/94
11/Jun/97
01/Mar/90
09/Jul/96
22/Dec/94
27/Feb/84
14/Jul/94
15/Dec/81
04/Jul/90
18/Oct/94
08/Sep/93
16/Dec/96
02/Jul/90
31 Maret 1905
26 Juni 1958
27 Maret 1905
19 Januari 1979
20 Desember 1979
27 Agustus 1990
15 Agustus 1990
05 Maret 1990
05 Februari 1976
02 Januari 1996
23 Januari 1969
10/Sep/66
14 Oktober 1970
27 Nopember 1976
07 Maret 1972
20 Mei 1970
11 Nopember 1994
17/Apr/01
04 Juli 2001
30 Juli 1991
23 Juli 1981
16 Oktober 2001
08 Juni 1990
17 Juni 1994
14 Maret 1978
05 Nopember 1969
05 Desember 1933
27 Juli 1995
30/Sep/93
11 Januari 1982
09 Januari 1973
11 Januari 1974
30/Nov/72
29 Januari 1996
28 Oktober 1993
17/Oct/94
Universitas Sumatera Utara
ROE (%)
2004
2005
(428.81)
2006
135.67
2007
59.44
(230.76)
0.09
0.04
0.14
14.21
25.77
15.88
10.92
12.99
(12.08)
(12.06)
7.87
11.27
14.35
11.55
20.11
17.60
10.90
13.89
10.02
10.32
9.23
2.88
13.13
13.76
34.99
38.18
37.08
42.68
9.79
5.11
9.65
13.09
0.79
(147.44)
(12.85)
10.35
(11.26)
(530.05)
(5.12)
(5.96)
8.99
3.24
4.21
4.35
0.54
0.56
1.81
3.65
(5.19)
4.62
(17.70)
(10.18)
14.69
14.41
7.66
10.22
40.99
52.08
62.00
44.94
7.69
9.71
12.22
15.76
15.61
18.32
12.74
10.80
2.83
3.62
5.43
3.80
9.55
6.26
5.05
5.75
28.19
27.35
22.59
20.84
37.16
31.99
36.74
31.93
2.30
2.09
2.65
2.60
(17.47)
(83.25)
171.38
142.80
19.16
16.55
14.03
13.16
5.31
3.33
3.44
3.98
20.74
20.21
16.48
16.51
64.83
66.27
72.69
72.88
28.64
(9.33)
4.71
6.52
(19.91)
(13.21)
(25.29)
25.05
(1,183.97)
34.79
0.88
3.18
Universitas Sumatera Utara
DER
2004
2005
2006
2007
2.40
-
-
-
2.60
2.76
2.82
3.65
0.87
0.78
0.77
0.74
0.43
0.87
0.44
1.80
1.29
1.24
1.77
2.27
0.28
0.32
0.32
0.29
2.56
2.33
2.10
2.62
1.22
1.52
2.08
2.14
0.46
0.61
0.58
0.73
-
2.31
1.87
2.14
-
4.45
0.79
0.90
0.48
0.45
0.36
0.44
0.61
0.54
0.53
0.64
0.77
0.64
0.74
1.01
0.69
0.69
0.65
0.69
1.34
1.55
1.21
0.94
0.86
0.65
0.97
1.50
0.35
0.41
0.35
0.21
1.05
0.96
1.45
2.46
0.44
0.39
0.45
0.53
1.43
0.78
0.36
0.33
0.30
0.21
0.20
0.18
0.13
0.21
0.27
0.42
29.75
70.30
-
70.47
0.23
0.26
0.23
0.26
0.19
0.14
0.10
0.13
0.19
0.19
0.11
0.08
0.61
0.76
0.95
0.98
3.36
3.85
1.82
1.44
0.85
1.09
1.39
0.28
117.70
0.35
0.35
0.36
Universitas Sumatera Utara
Harga Saham (Stock Price)
2004
2005
2006
2007
2,257.00
1,660.00
1,110.00
730.00
210.00
215.00
175.00
750.00
48,000.00
63,000.00
110,000.00
129,500.00
300.00
600.00
590.00
800.00
200.00
80.00
590.00
250.00
14,500.00
36,000.00
22,800.00
16,000.00
800.00
910.00
1,350.00
2,575.00
42,500.00
50,000.00
55,000.00
55,000.00
1,200.00
820.00
1,620.00
1,750.00
105.00
80.00
100.00
51.00
450.00
400.00
285.00
75.00
180.00
150.00
210.00
370.00
425.00
310.00
435.00
650.00
9,000.00
7,500.00
4,000.00
4,600.00
13,550.00
11,650.00
10,200.00
8,500.00
6,650.00
8,900.00
9,700.00
14,300.00
110.00
135.00
310.00
560.00
700.00
750.00
1,510.00
1,600.00
170.00
115.00
100.00
215.00
205.00
145.00
165.00
305.00
550.00
990.00
1,190.00
1,260.00
22,800.00
24,300.00
40,000.00
52,500.00
60.00
45.00
50.00
81.00
11,500.00
11,000.00
9,000.00
21,500.00
7,600.00
5,650.00
900.00
750.00
410.00
270.00
320.00
295.00
4,000.00
4,100.00
6,950.00
8,400.00
3,300.00
4,275.00
6,600.00
6,750.00
130.00
80.00
140.00
275.00
195.00
195.00
105.00
135.00
85.00
155.00
170.00
160.00
Universitas Sumatera Utara
DPR
2004
2005
2006
-
-
-
-
-
-
16.96
16.98
-
-
-
-
-
-
-
14.48
19.87
-
43.94
38.08
49.99
72.39
76.64
75.60
0.23
0.42
0.29
-
-
-
-
-
-
-
-
-
-
319.00
-
-
-
-
53.74
50.91
47.73
60.51
36.78
18.00
-
-
-
-
-
-
-
-
-
0.29
0.32
0.30
5.41
-
0.15
54.79
54.35
51.77
-
-
-
-
-
-
-
Universitas Sumatera Utara
-
0.41
LAMPIRAN II
Statistik Deskriptif
Descriptive Statistics
N
Minimum
Maximum
Mean
Std. Deviation
DPR_Y
124
.00
319.00
14.0846
35.38299
ROE_X1
124
-1183.97
171.38
-5.0008
129.85811
DER_X2
124
.00
117.70
3.2396
13.83662
HargaSaham_X3
124
45.00
129500.00
8411.1613
19499.46616
Valid N (listwise)
124
Universitas Sumatera Utara
LAMPIRAN III
Uji Asumsi Klasik
Pengujian One Sample Kolmogorov Smirnov Test.
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
124
a
Normal Parameters
Mean
.0000000
Std. Deviation
Most Extreme Differences
1.45058910
Absolute
.103
Positive
.103
Negative
-.048
Kolmogorov-Smirnov Z
1.146
Asymp. Sig. (2-tailed)
.145
a. Test distribution is Normal.
Uji Multikolinearitas
Collinearity Statistics
Model
1
Tolerance
VIF
(Constant)
Log_ROE
.715
1.399
Log_DER
.966
1.035
Log_HRG_S
HM
.736
1.359
a. Dependent Variable: Log DPR
Universitas Sumatera Utara
Uji Glesjer (1)
ANOVAb
Sum of
Squares
Model
1
Mean
Square
df
Regression
130.655
3
43.552
Residual
258.818
120
2.157
Total
389.473
123
F
Sig.
20.193 .000a
a. Predictors: (Constant), Log_HRG_SHM, Log_DER, Log_ROE
b. Dependent Variable: Log_DPR
Uji Glesjer (2)
Coefficientsa
Standardized
Unstandardized Coefficients Coefficients
Model
1
B
(Constant)
Std. Error
Beta
t
Sig.
16.582
2.838
5.842 .000
ROE
.011
.025
.049
.428 .669
DER
.004
.235
.002
.018 .986
HRG_SHM
.000
.000
.196 2.177 .051
a. Dependent Variable: Abs_Ut
Uji Autokorelasi
Model Summaryb
Model
1
R
.579a
R Square
Adjusted R
Square
.335
.319
Std. Error of
the Estimate
DurbinWatson
1.46861
2.050
a. Predictors: (Constant), Log_HRG_SHM, Log_DER, Log_ROE
b. Dependent Variable: Log_DPR
Universitas Sumatera Utara
LAMPIRAN IV
Pembahasan Penelitian
Koefisien Determinasi
Model Summaryb
Model
R
.579a
1
R Square
Adjusted R
Square
.335
Std. Error of
the Estimate
.319
DurbinWatson
1.46861
2.050
a. Predictors: (Constant), Log_HRG_SHM, Log_DER, Log_ROE
b. Dependent Variable: Log_DPR
Uji F (Uji Simultan)
ANOVAb
Sum of
Squares
Model
1
Mean
Square
df
Regression
130.655
3
43.552
Residual
258.818
120
2.157
Total
389.473
123
F
Sig.
20.193 .000a
a. Predictors: (Constant), Log_HRG_SHM, Log_DER, Log_ROE
b. Dependent Variable: Log_DPR
Universitas Sumatera Utara