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The Influence of Capital Structure and Profitability on Dividend Policy: A Study of Consumer Goods Companies in ISSI Putri Ayu Ningrat; Kristianingsih Kristianingsih; Ridha Ridha; Satria Kharimul Qolbi
Journal of Applied Islamic Economics and Finance Vol. 6 No. 2 (2026): Journal of Applied Islamic Economics and Finance (February 2026)
Publisher : Jurusan Akuntansi Politeknik Negeri Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35313/jaief.v6i2.6749

Abstract

This study aims to determine the effect of Debt to Equity Ratio (DER), Debt to Total Asset Ratio (DAR), Return on Equity (ROE), and Return on Assets (ROA) on Dividend Payout Ratio (DPR) in consumer goods companies listed on the Indonesian Sharia Stock Index (ISSI) during the period 2018–2023. A total of 53 companies were selected as samples using purposive sampling. Data analysis was conducted through classical assumption tests (normality, multicollinearity, and heteroscedasticity tests), multiple linear regression analysis, correlation and determination coefficients, as well as partial tests (t-test) and simultaneous tests (F-test). The results of the study indicate that DER and DAR do not have a significant effect on DPR. Conversely, ROE has a positive significant effect on DPR, while ROA has a negative significant effect. Simultaneously, the variables DER, DAR, ROE, and ROA are proven to have a significant effect on the Dividend Payout Ratio.