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All Journal Jurnal Benefita : Ekonomi Pembangunan, Manajemen Bisnis Dan Akuntansi
Devaki, Alfatur
Universitas Dharma Andalas
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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FAKTOR-FAKTOR YANG MEMPENGARUHI RETURN SAHAM PADA PERUSAHAAN LQ45 DI BURSA EFEK INDONESIA Devaki, Alfatur
Jurnal Benefita Vol 2, No 2 (2017): Jurnal Benefita : Ekonomi Pembangunan, Manajemen Bisnis & Akuntansi
Publisher : LLDIKTI Wilayah X

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (739.164 KB) | DOI: 10.22216/jbe.v2i2.2004

Abstract

The main purpose of investors from investing in the stock of companies is wealth increase which is achieved through stock return. Therefore, investors need to know about factors which affect on stock return in order to get the expected rate of stock return. This study aims to examine the effect of the fundamental factors which are measured by dividend payout ratio and price to earnings ratio, and the effect of the technical factor which is measured by beta on stock return on companies listed in LQ 45 in Indonesia Stock Exchange 2013-2015. The population of this research was all of companies listed in LQ 45 in Indonesia Stock Exchange, and the sampel consisted of twenty one companies. The analysis was conducted by using multiple linear regression. The results indicated that the dividend payout ratio did not have effect on stock return, while price to earnings ratio and beta affected on stock return.So, investors can consider of price to earnings ratio and beta variables to predict the expected rate of stock return.
FAKTOR INKONSISTENSI PERUSAHAAN DALAM PEMBAYARAN DIVIDEN Devaki, Alfatur
Jurnal Benefita Vol 2, No 3 (2017): Jurnal Benefita : Ekonomi Pembangunan, Manajemen Bisnis & Akuntansi
Publisher : LLDIKTI Wilayah X

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (689.445 KB) | DOI: 10.22216/jbe.v2i3.2108

Abstract

During the period 2012-2015 found 46 companies listed in LQ 45 did not consistently pay dividends to shareholders. This is a problem because consitent or stable dividend payouts are very important for investors as an evaluation of owner’s equity. This study aims to determine factors which affect the companies inconsistency in dividend payouts by testing profitability factor which is measured by return on equity, leverage factor which is measured by debt to equity ratio, and liquidity factor which is measured by current ratio on companies listed in LQ 45 in Indonesia Stock Exchange 2012-2015. The population of this research was all of companies listed in LQ 45 in Indonesia Stock Exchange, and the sampel consisted of thirty companies. The analysis was conducted by using multiple linear regression. The results indicated that simultaneously the return on equity, debt to equity ratio, and current ratio affected on dividend payout ratio. While partially the return on equity affected positively on dividend payout ratio, the debt to equity ratio affected negatively on dividend payout ratio, and current ratio did not affect on dividend payout ratio.Selama periode 2012-2015 ditemukan 46 perusahaan yang terdaftar dalam Indeks LQ 45 tidak konsisten membayarkan dividen kepada pemegang saham. Hal ini menjadi masalah karena pembayaran dividen yang dilakukan secara konsisten atau stabil sangat penting bagi investor sebagai evaluasi terhadap ekuitas pemilik. Penelitian ini bertujuan untuk menentukan faktor-faktor yang mempengaruhi inkonsistensi perusahaan dalam pembayaran dividen yaitu dengan menguji faktor profitabilitas yang diukur dengan returnon equity, faktor leverage yang diukur dengan debt to equity ratio, dan faktor likuiditas yang diukur dengan current ratio pada perusahaan LQ 45 di Bursa Efek Indonesia periode tahun 2012-2015. Populasi dari penelitian ini adalah seluruh perusahaan LQ 45 di Bursa Efek Indonesia, dan sampel terdiri dari 30 perusahaan. Pengujian dilakukan dengan menggunakan metode analisis regresi linier berganda. Hasil peneltian menunjukkan bahwa return on equity, debt to equity ratio, dan current ratio berpengaruh secara simultan terhadap dividend payout ratio. Sedangkan secara parsial,return on equitydan debt to equity ratio berpengaruh terhadap dividend payout ratio, namun current ratio tidak berpengaruh terhadap dividend payout ratio
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