PENGARUH PROFITABILITAS, FREE CASH FLOW, INVESTMENT OPPORTUNITY SET DAN LEVERAGE TERHADAP DIVIDEND PAYOUT RATIO (Studi Empiris Perusahaan LQ45 Yang Terdaftar di Bursa Efek Indonesia Periode 2015-2017)

PRAMONTIARNI, ENDAH YUNI (2020) PENGARUH PROFITABILITAS, FREE CASH FLOW, INVESTMENT OPPORTUNITY SET DAN LEVERAGE TERHADAP DIVIDEND PAYOUT RATIO (Studi Empiris Perusahaan LQ45 Yang Terdaftar di Bursa Efek Indonesia Periode 2015-2017). S1 thesis, Universitas Mercu Buana Bekasi.

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Abstract

ABSTRACT Dividend policy is a determination of how much profit will be distributed by shareholders, as well as determining how much is reinvested as retained earnings. Dividend policy in companies also has an important role in the value of company shares. Therefore, companies must pay attention to factors in determining decisions regarding dividend policy. This study aims to obtain empirical evidence about the effect of profitability, free cash flow, investment opportunity set and leverage on the dividend payout ratio. This research was conducted at LQ45 companies listed on the Indonesia Stock Exchange in 2015-2017. This type of research uses quantitative research, and uses secondary data. The sampling method used was purposive sampling, obtained as many as 31 samples. The data analysis technique used is multiple linear regression analysis. The results showed that the variable Profitability, Free Cash Flow and Leverage had a contribution to the DPR, while the Investment Opportunity Set variable did not have a contribution to the DPR. Keywords: Dividend Payout Ratio, Profitability, Free Cash Flow, Investment Opportunity Set and Leverage ABSTRAK Kebijakan dividen merupakan penentuan seberapa banyak laba yang akan dibagikan oleh pemegang saham, serta penentuan seberapa banyak yang ditanamkan kembali sebagai laba diahan. Kebijakan dividen pada perusahaan juga memiliki peran yang penting dalam nilai saham perusahaan. Oleh sebab itu, perusahaan haruslah memerhatikan faktor-faktor dalam menentukan keputusan mengenai kebijakan dividen. Penelitian ini bertujuan untuk mendapatkan bukti empiris mengenai pengaruh profitabilitas, free cash flow, investment opportunity set dan leverage pada dividend payout ratio. Penelitian ini dilakukan pada perusahaan LQ45 yang terdaftar di Bursa Efek Indonesia tahun 2015-2017. Jenis penelitian ini menggunakan penelitian kuantitatif, dan menggunakan data sekunder. Metode pengambilan sampel yang digunakan adalah purposive sampling, didapatkan sebanyak 31 sampel. Teknik analisis data yang digunakan adalah analisi regresi linier berganda. Hasil penelitian menunjukkan bahwa variabel Profitabilitas, Free Cash Flow dan Leverage mempunyai kontribusi terhadap DPR, sedangkan variabel Investment Opportunity Set tidak mempunyai kontribusi terhadap DPR. Kata Kunci : Dividend Payout Ratio, Profitabilitas, Free Cash Flow, Investment Opportunity Set dan Leverage

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