ANALISIS PENGARUH RETURN ON EQUITY, FIRM SIZE, CURRENT RATIO DAN INSTITUTIONAL OWNERSHIP TERHADAP DIVIDEND PAYOUT RATIO DENGAN DEBT TO EQUITY RATIO SEBAGAI VARIABEL INTERVENING

Ika Rosyada Fitriati, Mohammad Chabachib, Harjum Muharam

Abstract


Penelitian ini bertujuan untuk mengujipengaruh variabel return on equity, firm size, current ratio dan institutional ownership terhadap dividend payout ratio dengan debt to equity ratio sebagai variabel intervening. Pengambilan sampel menggunakan purposive sampling. Data diambil dari Indonesian Capital Market Directory (ICMD). Uji kelayakan model menggunakan uji multikolinieritas, uji koefisien determinasi dan uji signifikansi. Teknk analisis menggunakan analisis jalur dan sobel test. Hasil penelitian ini menunjukkan bahwa current ratio dan institutional ownership berpengaruh negatif signifikan terhadap debt to equity ratio, firm size dan current ratio berpengaruh positif signifikan terhadap dividend payout ratio, debt to equity ratio berpengaruh negatif signifikan terhadap dividend payout ratio serta debto equity ratio mampu memediasi pengaruh current ratio terhadap dividend payout ratio dan pengaruh institutional ownership terhadap dividend payout ratio.


The aimed of this study is examine the effect of variable return on equity, firm size, current ratio and institutional ownership toward dividend payout ratio with debt to equity ratio as an intervening variable. Sampling using purposive sampling. Data taken from Indonesian Capital Market Directory (ICMD). The test of feasibility models using multicoliniarity test, coefficient determination test and test of significance. The analysis technique using path analysis and sobel test. The result of this study indicate that the current ratio and institutional ownership have significant negative effect on debt to equity ratio, firm size and current ratio have significant positive effect on dividend payout ratio, debt to equity ratio has significant negative effect on dividend payout ratio and the debt to equity ratio capable of mediating influence current ratio toward dividend payout ratio and the effect of institutional ownership toward dividend payout ratio.


Keywords


return on equity, firm size, current ratio, institutional ownership, debt to equity ratio dan dividend payout ratio

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DOI: http://dx.doi.org/10.26623/jreb.v11i3.1142

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