Earning Effects Per Share, Current Ratio, Total Asset Turnover And Debit Ratio On Dividence In Industrial Company Numbered On The Indonesia Stock Exchange
Abstract
Dividend policy is important to the company because it involves the proper allocation of profits so that the company's growth and the welfare of its shareholders can be guaranteed. Dividend policy is influenced by two groups of factors: finsancial and non-financial. This study focuses on the discussion of financial factors measured by the financial ratio as it can provide an overview of the performance of the company. The aim of the study is to know the influence of the financial factors measureed by the economic ratio both simultaneously and partially and the financial ratios that have a dominant influence on the dividend policy measurable by the Dividen Payout Ratio (DPR). There are four financial ratiums used as independent variables in this study: Earning Per Share (EPS), Current Ratio(CR), Total Assets Turnover (TATO), and Debt Ratio. (DR). The analytical tool used in this study is multiple linear regression analysis. From the regression analyses it is known that the four financial ratios simultaneously have an insignificant influence on the Deviden Payout Ratio (DPR), whereas partially, the variables that have a insignifying influence upon the Devide Payouts Ratio are Earning Per Share (EPS), Current Ratio(CR), Total Assets Turnover (TATO), and Debt Ratio (DR). The study yielded a square R of 25.8 percent which means that the variation in the value of the Devidence Payout Ratio that can be explained by regression equation is only 25.8 per cent, while the rest, that is, 74.2 per cent is described by other variables outside the model equation. It shows that the financial ratio is not the only information that can be used as a consideration in setting a company's dividend policy.
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