ANALISIS PENGARUH CASH RATIO, RETURN ON ASSETS, DEBT TO EQUITY RATIO TERHADAP DIVIDEND PAYOUT RATIO: (Sub Sektor Property, Real Estate, dan Building Contaractor di Bursa Efek Indonesia Tahun 2011-2014)
DOI:
https://doi.org/10.22441/jimb.v3i2.3846Keywords:
Rasio Tunai, Return On Asset, Rasio Hutang terhadap Ekuitas, Rasio Dividen Payout,Abstract
Di era globalisasi ini, pengembangan usaha yang sangat cepat dibutuhkan ketepatan dalam
mengambil keputusan, yang harus diperhatikan bagi manajemen perusahaan, untuk
mengurangi kemungkinan risiko dan ketidakpastian akan terjadi. Dividen pengambilan
keputusan sangat sulit dilakukan karena di satu pihak pemegang saham menginginkan
dividen karena akan memberi keuntungan seperti yang diharapkan, di sisi lain perusahaan
ingin menahan dividen dengan tujuan meningkatkan nilai perluasan Perusahaan. Penelitian
ini bertujuan untuk menganalisis pengaruh mekanisme likuiditas, profitabilitas,
solvabilitas, terhadap dividend payout ratio pada perusahaan jasa yang terdaftar di Bursa
Efek Indonesia (BEI) untuk periode 2008-2011. Mekanisme likuiditas ditentukan oleh
variabel cash ratio, mekanisme profitabilitas yang digambarkan oleh variabel return on
assets, sedangkan solvabilitas dalam penelitian ini digambarkan oleh variabel debt to
equity ratio. Sampel yang digunakan dalam penelitian ini adalah 29 perusahaan yang
terdaftar di Bursa Efek Indonesia (BEI) periode 2011-2015. Metode pengambilan sampel
dilakukan dengan menggunakan purposive sampling. Hasil penelitian menunjukkan bahwa rasio kas memiliki pengaruh positif dan tidak signifikan terhadap rasio pembayaran dividen, return on assets berpengaruh positif dan signifikan terhadap dividend payout ratio, sedangkan Debt to Equity Ratio berpengaruh positif dan tidak signifikan terhadap Dividen Payout Ratio.
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