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Agustine Thunggalia, Abdullah Rakhman, Liaw Bunfa
Institut Bisnis dan Informatika Kwik Kian Gie

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PENGARUH LIKUIDITAS DAN PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN DENGAN KEBIJAKAN HUTANG SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN NON KEUANGAN Agustine Thunggalia, Abdullah Rakhman, Liaw Bunfa
Jurnal Manajemen Vol 7 No 2 (2018): Mei
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat Institut Bisnis dan Informatika Kwik Kian Gie

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Abstract

The objectives of this research are to know the direct effect of liquidity, profitability and debt  policy to dividend policy. Besides that, this study aims to know the indirect effect of liquidity and profitability where debt policy as an intervening to dividend policy. This study based on signaling Theory and Pecking Order Theory. This research sample is non-finance companies listed in the Indonesia Stock Exchange (IDX) during the period 2012 – 2014. Sampling technique to be used is Non-Probability Sampling technique by using Judgment / Purposive Sampling method, that is sample taking technique with criteria of non-financial company that go public in BEI and always dividend during 2012-2014 period. Tests performed using descriptive analysis, multiple regression analysis, simultaneous significance test, significance individual parameter test, and classical assumption test. The result showed that liquidity and profitability have significant positive effect to dividend policy, debt policy does not have significant effect to dividend policy, liquidity have significant negative effect to debt policy, profitability does not have significant to debt policy. Debt policy weakened the effect of liquidity and profitability to dividend policy.Key word: Liquidity, Profitability, Debt Policy, Dividend Policy, signaling Theory, Pecking Order Theory