PENGARUH KINERJA KEUANGAN TERHADAP KEBIJAKAN DIVIDEN: Studi Empiris pada Perusahaan Indeks LQ-45 Periode 2011-2013

• Main Author: Sitompul, Roy Dandy (Author)
• Format: Book
• Published: 2015-10-28.
• Subjects: Thesis; NonPeerReviewed
• Online Access: Link Metadata
• Notes: http://repository.upi.edu/21452/1/S_PEA_1006436_Title.pdf; http://repository.upi.edu/21452/2/S_PEA_1006436_Abstract.pdf; http://repository.upi.edu/21452/3/S_PEA_1006436_Table_of_content.pdf; http://repository.upi.edu/21452/4/S_PEA_1006436_Chapter1.pdf; http://repository.upi.edu/21452/5/S_PEA_1006436_Chapter2.pdf; http://repository.upi.edu/21452/6/S_PEA_1006436_Chapter3.pdf; http://repository.upi.edu/21452/7/S_PEA_1006436_Chapter4.pdf; http://repository.upi.edu/21452/8/S_PEA_1006436_Chapter5.pdf; http://repository.upi.edu/21452/9/S_PEA_1006436_Bibliography.pdf; http://repository.upi.edu/21452/10/S_PEA_1006436_Appendix.pdf
• Keywords: HC Economic History and Conditions; HG Finance

Penelitian ini bertujuan untuk mengetahui dan menguji pengaruh economic value added dan market value added terhadap dividend payout ratio pada perusahaan indeks LQ-45 periode 2011-2013. Penelitian ini merupakan penelitian eksplanatoris. Populasi penelitian ini adalah Perusahaan Indeks LQ-45 dan dipublikasikan pada Indonesian Capital Market Directory (ICMD), sebanyak 25 perusahaan. Teknik yang digunakan dalam penelitian ini untuk mendapatkan sampel yang representatif adalah purposive sampling. Kriteria yang digunakan dalam pengambilan sampel pada penelitian ini adalah perusahaan berada dalam indeks LQ-45 selama tiga tahun berturut-turut yakni dari tahun 2011-2013 tidak pernah melakukan delisting serta membagikan dividennya. Dipilih perusahaan yang membagikan dividen agar hasilnya sesuai dengan tujuan penelitian yaitu mengetahui pengaruh EVA dan MVA terhadap DPR. Metode analisis yang digunakan adalah Analisis Regresi Linier Berganda. Berdasarkan hasil penelitian, maka kesimpulan didalam penelitian ini adalah sebagai berikut: a).Hasil pengujian hipotesis pertama yang menyatakan bahwa EVA (economic value added) berpengaruh negatif dan signifikan terhadap DPR (Dividend Payout Ratio), diterima; b).Hasil pengujian hipotesis ke dua yang menyatakan bahwa MVA (market value added) berpengaruh positif dan tidak signifikan terhadap DPR (Dividend Payout Ratio), ditolak; c) Hasil pengujian hipotesis ke tiga yang menyatakan bahwa EVA dan MVA berpengaruh secara simultan signifikan terhadap DPR (Dividend Payout Ratio), diterima. ---------- This study aims to identify and examine the effect of economic value added (EVA) and market value added (MVA) of dividend payout ratio (DPR) in companies listed in LQ-45 index 2011-2013. This research is explanatory research. The population was companies listed in LQ-45 2011-2013 and published in the Indonesian Capital Market Directory (ICMD), as many as 25 companies. The technique used in this study to obtain a representative sample is purposive sampling. Some of the criteria used in the sampling in this study was the company is in LQ-45 index for three consecutive years from 2011-2013 which never did delisting and pay dividends during the period of 2011-2013. Selected companies that pay dividends because that results in accordance with the purpose of the study is that the use of this dividend policy truly reflects the company measures taken. The analytical method used is the Multiple Linear Regression Analysis. Based on the research and discussion that has been outlined in front, then the conclusions in this study are as follows : a). Results of testing of the first hypothesis which states that the EVA (economic value added) negative and significant effect on the House of Representatives (Dividend Payout Ratio), is accepted; b). Results of testing hypothesis two which states that MVA (market value added) positive and an significant effect on the House of Representatives (Dividend Payout Ratio), is rejected; c). Results of testing hypothesis which states that the economic value added (EVA) and market value added (MVA) simultaneously significant effect on the House of Representatives (Dividend Payout Ratio), accepted.