The Influence of Solvability, Company Growth and Profitability on Divident Policy and Firm Value at LQ 45 Companies on the Indonesia Stock Exchange

Authors

  • Riyanti Riyanti Faculty of Economy and Bussines, Management Study Program, UMJ
  • Azimah Hanifah Faculty of Economy and Bussines, Management Study Program, UMJ

DOI:

https://doi.org/10.38035/jafm.v1i3.39

Keywords:

Solvency, Company Growth, Profitability, Dividend Policy and Company Value

Abstract

This study aims to analyze the effect of solvency, company growth and profitability as well as dividend policy on firm value at LQ 45 companies listed on the Indonesia Stock Exchange (BEI).  This research is an associative quantitative study and uses secondary data.  Population and sample.  The population in this study are manufacturing companies in LQ 45 companies which are also listed on the Jakarta Islamic Index (JII) which are still listed on the Indonesia Stock Exchange for the period 2012-2016. There are 8 companies.  Determination of the sample using nonprobability sampling technique, namely purposive sampling obtained by 5 companies registered in the period 2012-2016.  The criteria are a) manufacturing companies that have been and are still listed on the Indonesia Stock Exchange for the period 2012-2016, b.) Manufacturing companies that publish financial reports for the period 2012-2016, c.  Companies that have positive profits during the 2012-2016 period, d.  Companies that have complete financial data calculate the variables in this study during the 2012-2016 period.  The analysis method used is path analysis with pruning models.  The results of this study concluded that solvency has a direct effect on dividend policy, profitability has a direct effect on dividend policy, company growth does not have a direct effect on dividend policy.  Solvency does not have a direct effect on Firm Value, Profitability has a direct effect on Firm Value, Company growth has no direct effect on Firm Value, Dividend Policy has a direct effect on Firm Value, Solvency has a direct effect on Firm Value through Dividend Policy and Profitability has a direct effect on Firm Value through Policy  dividends and company growth do not have a direct effect on firm value through dividend policy in LQ 45 companies.

References

Atmaja, L.S.,2008, “Teori dan Praktik Manajemen Keuangan”, Penerbit Andi, Yogyakarta

Bambang Riyanto, 2008, “Dasar-dasarPembelanjaan Perusahaan”, Penerbit GPFE, Yogyakarta. Bursa Efek Indonesia.

Bringham, Eugene F dan Houston, Joul F. Dasar-dasar Manajemen Keuangan Edisi ke-10. Jakarta :Salemba Empat, 2006.

Darminto. 2008. “Pengaruh Profitabilitas, Likuiditas, Struktur Modal dan Struktur Kepemilikan Saham terhadap Kebijakan Dividen”, Jurnal Ilmu-ilmu Sosial. Vol. 20, No.2, Agustus 2008.

Gujarati, Damodar dan Porter, Dawn. C. Dasar-dasar Ekonometrika,.Jakarta :Salemba Empat, 2012.

Harahap SofyanSafri, 2011, “Analisis KrisisAtas LaporanKeuangan”, PT Raja Grafindo Persada, Jakarta.

Husnan, Suad. 2000. Manajemen Keuangan Teori dan Penerapan (Keputusan Jangka Panjang), Edisi Keempat, Yogyakarta : BPFE UGM.

Irham Fahmi, 2014, “Analisis Laporan Keuangan”, Cetakan Ke-2, Alfabeta, Bandung.

Jannati, Attina. Pengaruh Profitabilitas, Leverage dan Growth terhadap Kebijakan Dividen pada Perusahaan Manufaktur Consumer Goods Industri yang listing di Bursa Efek Indonesia. Universitas Siliwangi. 2012.

Kasmir, 2016, “Analisis Laporan Keuangan”, PT Raja Grafindo Persada, Jakarta.

Keown, Arthur J; David F dan Marthin; John D dan Petty, Jay W. Dasar-dasar Manajemen Keuangan. Jakarta :Salemba Empat, 2000.

Martono, AgusHarjito, Manajemen Perkreditan. Jakarta :Bumi Aksara. 2001.

Martono danAgus Harjito.2010.Manajemen Keuangan. Edisi 3. Yogyakarta :Ekonisia.

Moleong, Lexy J. 2014. Metode Penelitian Kualitatif. Edisi Revisi. PT Remaja Rosdakarya. Bandung.

Pramastuti, S. 2007. Analisis Kebijakan Dividen: Dividend Signaling Theory dan Rent Extraction Hypothesis. Thesis. Program Pascasarjana Fakultas Ekonomi Universitas Gadjah Mada.

Riyanto, Bambang. Dasar-dasar Pembelanjaan Perusahaan. Yogyakarta: BPFE-YOGYAKARTA, 2008.

Sartono, Agus. 2010. Manajemen KeuanganTeori dan Aplikasi. Yogyakarta: BPFE.

Weston J. Fred dan Thomas E. Copeland. 1997. Manajemen Keuangan, jilid Dua. Edisi Sembilan. Binarupa Aksara. Jakarta.

Wijoyo, Amin. 2018. Jurnal Ekonomi. Volume XXIII, No.1, Jakarta :Universitas Tarumanegara.

Achamd Rizky Na’imPurnama, Sri Sulasmiyati, 2017. Analisis Pengaruh Profitabilitas, Likuiditas terhadap Kebijakan Dividen Kas (Studi pada Perusahaan Industri Otomotif dan Komponennya yang di Bursa Efek Indonesia Periode 2006 – 2016).

HendikaArgaPermana, Lina Nur Hidayati, 2016, AnalisisPengaruh Leverage, Likuiditas, Profitabilitas, Pertumbuhan Perusahaan dan Ukuran Perusahaan terhadapKebijakanDividen pada Perusahaan Manufaktur yang Terdaftar di BEI.

Loh Wenny Setiawati, LusianaYesisca, 2015, Analisis Pengaruh Pertumbuhan Perusahaan, Kebijakan Utang, Collateralizable Assets dan Ukuran Perusahaan terhadap Kebijakan Dividen pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia Periode 2012 – 2014.

Hendika Arga Permana, Lina Nur Hidayati, 2016, Analisis Pengaruh Leverage, Likuiditas, Profitabilitas, Pertumbuhan Perusahaan dan Ukuran Perusahaan terhadap Kebijakan Dividen pada Perusahaan Manufaktur yang terdaftar di BEI.

Loh Wenny Setiawati, LusianaYesisca, 2015, Pertumbuhan Perusahaan, Kebijakan Utang, Collateralizable Assets dan Ukuran Perusahaan terhadap KebijakanDividen pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia Periode 2012 – 2014. Analysis of Factors that Influence Dividend Payout Ratio of Coal Companies in Indonesia Stock Exchange.

Suraini Ginting. Oktober 2018. Pengaruh Likuiditas, Profitabilitas dan Leverage terhadapKebijakanDividen pada Perusahaan LQ45 yang Terdaftar di Bursa Efek Indonesia Periode 2012 – 2016, STIE MIKROSKIL, Vol. 8, ISSN 2622-6421 Nomer 02.

Downloads

Published

2021-01-05

How to Cite

Riyanti, R., & Hanifah, A. (2021). The Influence of Solvability, Company Growth and Profitability on Divident Policy and Firm Value at LQ 45 Companies on the Indonesia Stock Exchange. Journal of Accounting and Finance Management, 1(6), 287–301. https://doi.org/10.38035/jafm.v1i3.39

Issue

Vol. 1 No. 6 (2021): Journal of Accounting and Finance Management (January-February 2021)

Section

Articles

License

Authors who publish their manuscripts in this journal agree to the following conditions:

  1. The copyright on each article belongs to the author(s).
  2. The author acknowledges that the Journal of Accounting and Finance Management (JAFM) has the right to be the first to publish with a Creative Commons Attribution 4.0 International license (Attribution 4.0 International (CC BY 4.0).
  3. Authors can submit articles separately, arrange for the non-exclusive distribution of manuscripts that have been published in this journal into other versions (e.g., sent to the author's institutional repository, publication into books, etc.), by acknowledging that the manuscript has been published for the first time in the Journal of Accounting and Finance Management (JAFM).

Similar Articles

1 2 3 4 5 6 7 8 9 > >> 

You may also start an advanced similarity search for this article.