ANALISIS PENGARUH CASH POSITION, EARNING PER SHARE, INVESTMENT OPPORTUNITY SET, LEVERAGE, DAN PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN

DIMAS OKTANDRI ADITYA DENASAR, NIM. 12390023 (2016) ANALISIS PENGARUH CASH POSITION, EARNING PER SHARE, INVESTMENT OPPORTUNITY SET, LEVERAGE, DAN PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN. Skripsi thesis, UIN SUNAN KALIJAGA YOGYAKARTA.

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Abstract

Dividend policy is a policy used by management to determine the proportion of dividend disbursement to stockholders. Dividend policy is shown in a percentage indicating the capability of corporate finance to pay dividend. Cash position, earning per share, investment opportunity set, leverage, and profitability are used to know how the corporate finance works and predict the future dividend policy. This study aimed to examine the effect of cash position, earning per share, investment opportunity set, leverage and profitability on dividend policy. The population of this study is corporates listing in Jakarta Islamic Index in 2011- 2014. The sample of this study is 18 corporates. Purposive sampling is a method used to determine the sample. Data is collected from the annual report accessed from corporate website. The analysis technique used is data panel regression. The test to do with fixed effect regression. The result show that simultaneously cash position, earning per share, investment opportunity set, leverage and profitability bring effect on dividend policy coefficient. While partially earning per share, investment opportunity set, leverage and profitability have significantly negative effect on dividend policy coefficient. Meanwhile cash position has significantly positive effect on dividend policy. The research is result show 98,7 % of independent variable can explain to dependent variable and the balance 1,3 % effected of other variable.

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