PENGARUH PROFITABILITAS DAN INVESTMENT OPPORTUNITY SET TERHADAP KEBIJAKAN DIVIDEN - .... ....... (Program Studi Perbankan Syariah, IAIN Palopo, 2019)
Abstract: The purpose of this study is to determine the effect of profitability and investment opportunity set on dividend policy. The population consists of all companies listed in the Jakarta Islamic Index (JII) for the 2013-2017 period. The sample is determined based on purposive sampling technique so that the sample size is 7 companies. The type of data used is panel data (a combination of time series and cross sections). The data collection method is done by downloading a summary of financial statements on the Indonesia Stock Exchange website. The method of data analysis uses multiple regression analysis with the help of Eviews 7. The research findings are profitability that has a positive and significant effect on dividend policy. Investment opportunity set has a negative and not significant effect on dividend policy.Keywords: Profitability, Investment Opportunity Set, Dividen Policy Abstrak: Tujuan penelitian ini untuk mengetahui pengaruh profitabilitas dan investment opportunity set terhadap kebijakan dividen. Populasi terdiri dari seluruh perusahaan terdaftar di Jakarta Islamic Index (JII) periode 2013-2017. Sampel ditentukan berdasarkan teknik purposive sampling sehingga jumlah sampel sebanyak 7 perusahaan. Jenis data yang digunakan yaitu panel data (gabungan antara time series dan cross section). Metode pengumpulan data dilakukan dengan cara mendonwload ringkasan laporan keuangan di website Bursa Efek Indonesia. Metode analisis data menggunakan analisis regresi berganda dengan bantuan program Eviews 7. Temuan penelitian yakni profitabilitas berpengaruh positif dan signifikan terhadap kebijakan dividen. Investment opportunity set berpengaruh negatif dan tidak signifikan terhadap kebijakan dividen.Kata Kunci: Profitabilitas, Investment Opportunity Set, Kebijakan DividenDAFTAR PUSTAKAAng, Robert. 1997. BukuPintar Pasar Modal Indonesia. Edisi 1, Mediasoft:IndonesiaGede, dan I Ketut. 2016. PengaruhKepemilikanManajerial, Leverage, Investment Opportunity Set dan Profitabilitas Pada KebijakanDividen Perusahaan Manufaktur. E-JurnalAkuntansiUniversitasUdayana, Vol 15(1) : 112-141Giriati. 2016. Free Cash Flow, Dividend Policy, Investment Opportunity Set, Opportunistic Behavior and Firm’s Value (A Study About Agency Theory). Procedia-Social and Behavioral Sciences, 248-254Godron, M. J. 1963. Optimal Investment and Financing Policy. The Journal of Finance, Vol 18(2), 264-272Jasman, Jumawan. 2018. PengaruhKepemilikanInstitusional dan ProfitabilitasTerhadapKebijakanDividen. Journal of Institution and Sharia Finance, 1(1), 147-156Litzenberger, R.H., dan Ramaswamy, K. 1979. The Effect of Personal Taxes and Dividends on Capital Asset Prices: Theory and Empirical Evidence. Journal of Financial Economics, Vol 7(2) 163-195Myers, S. 1984. The Capital Structure Puzzle. The Journal of Finance, Vol. 39(3), 574-592Modiaglini, F, dan Miller, M.H. 1958. Cost of Capital, Corporation Finance, and the Theory of Investment. American Economic Review, Vol. 48(3), 261-297Sumarni, I., dan Yusniar, M. W. 2016. Pengaruh Investment Opportunity Set TerhadapKebijakanDividen. JurnalWawasanManajemen, 2(2), 201-212.Usman, H., dan Mustafa, S. W. 2016. Pengaruh CR, DER dan ROA Terhadap Dividend Payout Ratio Pada Beberapa Perusahaan Pertambangan yang Terdaftar di BEI (2011-2013). JurnalAkuntansi, Vol 1(2) : 43-47Yudiana, I. G. Y., dan Yadnyana, I. K. 2016. PengaruhKepemilikanManajerial, Leverage, Investment Opportunity Set Dan Profitabilitas Pada KebijakanDividen Perusahaan Manufaktur. E-JurnalAkuntansi, Vol 15(1), 111-141