The Effect of Current Ratio, Debt to Equity Ratio and Return in The Consumer Goods Industry Sector Listed in Indonesia Stock Exchange 2012-2017

Yusi Amelia; Rina Y Asmara

doi:10.22441/ihasj.2019.v2i2.04

The Effect of Current Ratio, Debt to Equity Ratio and Return in The Consumer Goods Industry Sector Listed in Indonesia Stock Exchange 2012-2017

Yusi Amelia, Rina Y Asmara

Abstract

This study aims to analyze the effect of current ratio (CR), debt to equity ratio (DER), and return on equity ratio (ROE) on dividend payout ratio (DPR) in the consumer goods industry sector listed in Indonesia Stock Exchange period of 2012-2017. The sample selection in this study using purposive sampling method and got 13 companies that match the criteria. From result of research got value of adjusted R-Square equal to 62.64%. It indicated that return on equity has a significant negative effect on dividend payout ratio with regression coefficient equal to -1.070932. However, the result of current ratio has insignificant negative effect on the dividend payout ratio with regression coefficient of -2.462612 and debt to equity ratio has insignificant positive effect on the dividend payout ratio with regression coefficient of 0.012540.

Full Text:

PDF

References

Ambarwati, and Ismawati (2017). Analisis Pengaruh DER, ROA, dan CR Terhadap Dividen Payout Ratio Pada Perusahaan Pertambangan Yang Terdaftar Dalam Bursa Efek Indonesia (BEI) Tahun 2011-2015. Indonesia: Universitas Surakarta. ISSN 2085-2215, Vol.15, No.3.

Ano, Murni, and Rate (2014). Pengaruh Likuiditas dan Profitabilitas Terhadap Devidend Payout Ratio Pada Subsektor Perbankan Yang Terdaftar di Bursa Efek Indonesia Periode 2009-2013. Indonesia: Universitas Sam Ratulangi. ISSN 2303-1174, Vol.2, No.3.

Brigham, Eugene F. and Joel F. Houston. (2016). Fundamentals of Financial Management. United Stated of America: Cengage Learning.

Ekawati and Siswoyo. (2015). The Effects of Current Ratio, and Debt to Equity Ratio on Dividend Policy through Net Profit Margin. Indonesia: IISTE. Research Journal of Finance and Accounting, Vol 6, No.24.

Fitri, Hosen and Muhari. (2016). Analysis of Factors that Impact Dividend Payout Ratio on List Companies at Jakarta Islamic Index. Indonesia: HRMARS. International Journal of Academic Research in Accounting Economics, Finance, and Management Sciences, Vol 6, No.2.

Indrawan, Suyanto and Mulyadi (2017). Return On Equity, Current Ratio, Debt Equity Ratio, Asset Growth, Inflasi, dan Suku Bunga Terhadap Dividen Payout Ratio. Indonesia: Universitas Pancasila, ISSN 20886969, Vol 6, No.11.

Iswara (2017). Pengaruh Rasio Likuiditas, Rasio Profitabilitas, Rasio Leverage, Ukuran Perusahaan, dan Asset Growth terhadap Kebijakan Dividen pada Perusahaan Industri Manufaktur Subsektor Makanan dan Minuman yang terdaftar di Bursa Efek Indonesia Periode 2012-2015. Indonesia: Politeknik NSC Surabaya. ISSN 2356-2544, Vol.4, No.1.

Jeanne and Esra (2016). Analisis Pengaruh Current Ratio, Debt Equity Ratio, Return On Equity, dan Total Asset Turnover terhadap Dividend Payout Ratio Perusahaan Pada Industri Manufaktur Yang Terdaftar di BEI untuk periode 2012-2013. Indonesia: Program Studi Manajemen, Institut Bisnis dan Informatika Kwik Kian Gie, Jl.Yos Sudarso Kav. 87, Jakarta 14350. ISSN 0854-8153, Vol 23, No.1.

Keown, Martin, Petty, and Scott JR (2014). Financial Management. United Stated of America: Pearson Prentice Hall.

Khotimah, and Waryati (2015). Analisis Pengaruh Cash Position, Debt To Equity Ratio, dan Return On Assets Terhadap Dividend Payout Ratio Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2010-2013. Indonesia: Universitas Janabadra Yogyakarta. Vol.6, No.1.

Laili, Darmawan, and Sinarwati (2015). Pengaruh Debt To Equity Ratio, Kepemilikan Manajerial, Return On Assets, dan Current Ratio Terhadap Dividend Payout Ratio pada Perusahaan Manufaktur yang Terdaftar di BEI Periode 2009-2013. Indonesia: Universitas Pendidikan Ganesha Singaraja. Vol.3, No.1.

Puspita (2017). Pengaruh Likuiditas, Profitabilitas, Leverage, dan Market Ratio terhadap Dividend Payout Ratio pada Perusahaan Manufaktur.Indonesia: Universitas Nusantara PGRI Kediri. ISSN 2528-7672, Vol.12, No.1.

Perpatih (2016). Pengaruh ROA dan DER Terhadap Dividen Payout Ratio (DPR) Pada Perusahaan Manufaktur Sektor Industri Dasar Kimia yang Terdaftar di Bursa Efek Indonesia. Indonesia: Sekolah Tinggi Ilmu Ekonomi (STIE) Pasaman, Simpang Empat. ISSN 2337-3997, Vol 4, No.3.

Ross, Westerfield, Jaffe, Lim, and Tan (2015) Fundamentals of Corporate Finance. New York: Mc Graw-Hill Education.

Sarmento, and Dana (2016). Pengaruh Return On Equity, Current Ratio, dan Earning Per Share Terhadap Kebijakan Dividen Pada Perusahaan Keuangan. Indonesia: Universitas Udayana Bali. ISSN 2302-8912, Vol.5, No.7.

Sartono. (2010). Manajemen keuangan. Yogyakarta: BPFE-YOGYAKARTA.

Sinabuntar and Nugroho (2015). Dividend Payout Ratio In Indonesian Consumer Goods Industry: Panel Analysis And Determinant Factors In 2004-2013. Indonesia. Journal of Business and Management, Vol 4, No.4.

Thafani, and Abdullah (2014). Impact of Dividend Payout on Corporate Profitability: Evident from Colombo Stock Exchange. Sri Lanka: South Eastern University Of Sri Lanka. ISSN 2394-1553, Vol.1, No.1.

Winarno, Wing Wahyu. (2015). Analisis Ekonometrika dan Statistika dengan Eviews Edisi Keempat. Yogyakarta. UPP STIM YKPN.

Zulkifli, Endri, Kurniasih (2017). Determinan Internal Dividen Payout Ratio Perusahaan Farmasi Terdaftar di Bursa Efek Indonesia. Indonesia: Universitas Mercu Buana. ISSN 2443-268.

DOI: http://dx.doi.org/10.22441/ihasj.2019.v2i2.04