PENGARUH STRUKTUR MODAL, PROFITABILITAS, LIKUIDITAS TERHADAP KEBIJAKAN DIVIDEN DENGAN KEPEMILIKAN MANAJERIAL SEBAGAI VARIABEL MODERASI

Satiya Silen
Herlina Lusmeida

Proceeding National Conference Business, Management, and Accounting (NCBMA)
8th National Conference Business, Management, and Accounting

This study aims to analyze whether capital structure, profitability, and liquidity have a significant impact on dividend policy by testing the role of managerial ownership as a moderating variable. The research is quantitative, using secondary data from a sample of 86 manufacturing companies, totaling 344 observations over the 2019-2022 period. The data was collected using purposive sampling. The analytical method applied is multiple regression analysis, utilizing STATA 17.0 software. The findings show that capital structure has a positive effect on dividend policy, while profitability and liquidity have a negative effect on dividend policy. Furthermore, managerial ownership does not strengthen the positive influence of capital structure, profitability, and liquidity on dividend policy.