THE EFFECT OF RETURN ON ASSETS (ROA), NET PROFIT MARGIN (NPM), TOTAL ASSET TURNOVER (TATO), AND STOCK PRICE ON DIVIDEND POLICY IN MANUFACTURING COMPANIES LISTED ON IDX 2016-2020
Keywords:
Return on Assets (ROA), Net Profit Margin (NPM), Total Asset Turnover (TATO), Stock Price, Dividend PolicyAbstract
The purpose of this study is to see the effect of Return On Assets (ROA), Net Profit Margin (NPM), Total Asset Turnover (TATO) and Stock Price on Dividend Policy in Manufacturing Companies Listed on the IDX 2016-2020. both partially and simultaneously. Dividend policy is a decision whether the profit earned by the company will be distributed to shareholders as dividends or will be retained in the form of retained earnings for future investment financing. Each company will announce its dividend policy to the public and the dividend announcement is one of the information that the market will respond to, because dividends are considered an indicator of the company's prospects so that they affect the value of the company. An increase in dividend payments shows a good signal and the market will certainly respond positively. Conversely, company policy in reducing dividend payments will give a bad signal and as a result the market will react negatively. The population in the study has all manufacturing companies listed on the IDX for the 2016-2020 period, namely 177 companies and samples with a total of 150 units of analysis. The research method applies multiple linear regression analysis techniques. The results of the study are Return On Assets (ROA), Net Profit Margin (NPM), Total Asset Turnover (TATO) and Stock Price partially and jointly affect the Dividend Policy in Manufacturing Companies Listed on the IDX 2016-2020.
Downloads
References
Aini. Fadila. 2017. Pengaruh Likuiditas, Profitabilitas, dan Harga Saham terhadap Kebijakan Deviden. Padang: Universitas Negeri Padang.
Darmadji, T dan Fakhrudin. 2016. Pasar Modal di Indonesia Pendekatan Tanya Jawab. Jakarta: Salemba Empat.
Firdaus. Iwan dan Putri Handayani. 2019. Pengaruh DER, TATO dan NPM Terhadap Kebijakan Dividen. JAAF (Journal of Applied Accounting and Finance). Vol. 3. No. 1.
Ghozali. Imam. 2016. Aplikasi Analisis Multivariate Dengan Program IBM SPSS. Jakarta : Penerbit Universitas Diponegoro.
Harahap, Sofyan Syafri. 2015. Analisis Kritis Atas Laporan Keuangan. Jakarta: PT. Raja Grafindo Persada.
Hery. 2016. Analisis Laporan Keuangan. Jakarta: PT. Grasindo.
Kasmir. 2015. Analisis Laporan Keuangan. Jakarta: PT. Raja Grafindo Persada.
Nugroho. Prasetyo Adi. 2014. Pemicu Harga Saham, Leverage, Profitabilitas, Arus Kas Operasi, serta Laba Bersih Terhadap Dividen Tunai Pada Perusahaan Dalam LQ 45 di BEI Periode 2010-2013. Semarang : Universitas Dian Nuswantoro
Parera. Dwidarnita.2016. Pengaruh Net Profit Margin (NPM), Return On Assets (ROA), Dan Debt To Equity Ratio (DER) Terhadap Dividen Payout Ratio (DPR) Pada Perusahaan Yang Tercatat Dalam Indeks LQ45 di BEI Periode 2009-2013. Jurnal EMBA. Vol. 4 No. 2. ISSN 2303-1174.
Rahmawati. Nining Dwi. Ivonne S. Saerang dan Paulina Van Rate. 2014. Kinerja Keuangan Pengaruhnya Terhadap Kebijakan Dividen Pada Perusahaan BUMN di Bursa Efek Indonesia. Jurnal EMBA. Vol. 2. No. 2. ISSN 2303-1174.
Riyanto, Bambang. 2013. Dasar-Dasar Pembelanjaan Perusahaan. Yogyakarta: BPFE.
Rudianto. 2012. Pengantar Akuntansi Konsep & Teknik Penyusunan Laporan Keuangan. Yogyakarta: Erlangga
Rodoni. Ahmad dan Herni Ali. 2014. Manajemen Keuangan Modern. Jakarta : Mitra Wacana Media.
Sartono, Agus. 2012 Manajemen Keuangan Teori dan Aplikasi Edisi 4. Yogyakarta: BPFE.
Sugiyono. 2014. Metode Penelitian Bisnis. Bandung: Alfabeta
Triono. Bawon dan Dwi Artati. 2019. Pengaruh Total Asset Turnover, Current Ratio, Debt To Equity Ratio dan Return On Assets Terhadap Kebijakan Dividen. Jurnal Ilmiah Manajemen, Bisnis dan Akuntansi. Vol 1. No. 1.
