The Influence of Corporate Governance, Profitability, and Leverage on Dividend Policy (Study at Companies Listed in IDX High Dividend 20 Index in 2018-2021)

Prasetyaningtyas, Novisya Hangesti and Cacik Rut Damayanti, S.Sos., M.ProfAcc., DBA (2023) The Influence of Corporate Governance, Profitability, and Leverage on Dividend Policy (Study at Companies Listed in IDX High Dividend 20 Index in 2018-2021). Sarjana thesis, Universitas Brawijaya.

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh corporate governance, rasio profitabilitas, dan rasio leverage terhadap kebijakan dividen perusahaan pada perusahaan yang terdaftar pada index High Dividend 20 2018 – 2021. Mekanisme corporate governance yang diuji antara lain adalah Kepemilikan Institusional, Dewan Direksi, dan Komite Audit. Rasio profitabilitas diproksikan dengan Net Profit Margin (NPM), Return on Assets (ROA), dan Return on Equity (ROE). Rasio leverage diproksikan dengan Debt-Asset Ratio (DAR). Sedangkan kebijakan dividen diproksikan dengan Dividend Payout Ratio (DPR) Jenis penelitian ini adalah explanatory research dengan pendekatan kuantitatif. Data yang digunakan pada penelitian adalah data sekunder yang diperoleh dari website resmi Bursa Efek Indonesia dan website resmi masing – masing perusahaan. Sampel penelitian ini berjumlah 13 perusahaan. Teknik pengambilan sampel dilakukan dengan metode purposive sampling. Analisis data yang digunakan adalah analisis statistik deskriptif dan analisis statistik inferensial yang terdiri atas uji asumsi klasik dan analisis regresi berganda. Uji hipotesis dilakukan dengan uji F, uji t, serta uji koefisien determinasi. Hasil penelitian ini menunjukkan bahwa seluruh variabel secara simultan berpengaruh terhadap kinerja keuangan perusahaan. Secara parsial, ROE dan DAR berpengaruh terhadap kebijakan dividen perusahaan sementara Kepemilikan Institusional, Dewan Direksi, Komite Audit, dan ROA tidak berpengaruh terhadap kebijakan dividen perusahaan.

English Abstract

This study aims to determine the effect of corporate governance, profitability ratios, and leverage ratios on company dividend policies in companies listed on the High Dividend 20 2018 – 2021 index. The corporate governance mechanisms tested included institutional ownership, the board of directors, and the audit committee. Profitability ratios are proxied by Net Profit Margin (NPM), Return on Assets (ROA), and Return on Equity (ROE). The leverage ratio is proxied by the Debt-Asset Ratio (DAR). While the dividend policy is proxied by the Dividend Payout Ratio (DPR) This type of research is explanatory research with a quantitative approach. The data used in this research is secondary data obtained from the official website of the Indonesia Stock Exchange and the official website of each company. The sample of this research is 13 companies. The sampling technique was carried out by purposive sampling method. The data analysis used was descriptive statistical analysis and inferential statistical analysis consisting of classical assumption tests and multiple regression analysis. Hypothesis testing is done by F test, t test, and coefficient of determination test. The results of this study indicate that all variables simultaneously influence the company's financial performance. Partially, ROE and DAR influence the company's dividend policy while Institutional Ownership, Board of Directors, Audit Committee, and ROA have no effect on the company’s dividend policy.

Item Type:	Thesis (Sarjana)
Identification Number:	0523030885
Uncontrolled Keywords:	Corporate Governance, Profitability, Leverage, Dividend Policy
Divisions:	Fakultas Ilmu Administrasi > Ilmu Administrasi Bisnis / Niaga
Depositing User:	Endang Susworini
Date Deposited:	25 Jan 2024 02:53
Last Modified:	25 Jan 2024 02:53
URI:	http://repository.ub.ac.id/id/eprint/212981

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