PENGARUH PROFITABILITAS DAN INVESMENT OPPORTUNITY SET TERHADAP KEBIJAKAN DIVIDEN DENGAN LIKUIDITAS SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2020 - 2022
DOI:
https://doi.org/10.52624/cash.v7i2.2448Keywords:
Profitability, Investment Opportunity Set, Liquidity and Dividend PolicyAbstract
Abstrak:
Penelitian ini bertujuan untuk menguji profitabilitas dan Invesment Opportunity Set terhadap kebijakan dividen dengan likuiditas sebagai variabel moderasi (studi empiris pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia). Metode penelitian ini adalah kuantitatif dengan menggunakan data sekunder yaitu laporan keuangan perusahaan. Populasi penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2020 – 2022. Teknik pemilihan sampel dengan metode purposive sampling dan terdapat 39 perusahaan yang menjadi sampel penelitian. Analisis data menggunakan regresi linear berganda dan uji moderasi. Hasil penelitian menunjukkan profitabilitas berpengaruh signifikan terhadap kebijakan dividen, sedangkan invesment opportunity set tidak berpengaruh signifikan terhadap kebijakan dividen. Lalu pada pengujian MRA guna untuk menguji variabel moderasi diperoleh hasil bahwa likuiditas tidak mampu memoderasi profitabilitas terhadap kebijakan dividen dan begitupula likuiditas tidak mampu memoderasi invesment opportunity set terhadap kebijakan dividen.
Kata Kunci: Profitabilitas, Invesment Opportunity Set, Likuiditas dan Kebijakan Dividen.
Abstract
This research aims to test profitability and investment Opportunity Set on dividend policy with liquidity as a moderating variable (empirical study on manufacturing companies listed on the Indonesia Stock Exchange. This research method is quantitative using secondary data, namely the company's financial reports obtained. The population of this research is manufacturing companies listed on the Indonesia Stock Exchange (BEI) for the period 2020 - 2022. The sample selection technique uses the purposive sampling method and there were 39 companies in the research sample. Data analysis using multiple linear regression and moderation tests. The research results show that Profitability has a significant effect on dividend policy, while investment opportunity set does not have a significant effect on dividend policy. Then, in the MRA test to test the moderating variable, the result was that liquidity was not able to moderate profitability on dividend policy and neither was liquidity able to moderate the investment opportunity set on dividend policy.
Keywords: Profitability, Investment Opportunity Set, Liquidity and Dividend Policy
Downloads
References
Downloads
Published
Issue
Section
License
Articles published in the Economic, Accounting Scientific Journal (CASH) are licensed under the Creative Commons Attribution-NonCommercial 4.0 International License (CC BY-NC 4.0), unless otherwise stated.
Under this license, readers are permitted to:
-
Copy and redistribute the material in any medium or format
-
Remix, transform, and build upon the material for non-commercial purposes
Provided that:
-
Appropriate credit is given to the author(s) and the original source
-
The material is not used for commercial purposes without prior written permission from the publisher
-
Any modifications or adaptations are clearly indicated
Authors retain their moral rights and are responsible for the content of their published articles. The publisher bears no responsibility for any misuse of the content by third parties in violation of the license terms.
This license is intended to support open access, knowledge dissemination, and scholarly use in the fields of economics, accounting, and related disciplines, while protecting the rights of authors and the publisher.
