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Authors:
Ismul Aksan, Aqlima Cendera Dewi, Ahmad Farras Adibuddin, Brizan Sena Bagaskoro, Indonesia
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Abstract:
The objective of the research is to examine the influence of firm value, leverage and profitability on dividend policy. The population in this research is that all company including manufacturing sector in 2011-2013. The sampling technique employed was purposive sampling and acquired 99 companies during 3 years observation period. Data were provided by Indonesian Capital Market Directory. The analysis technique employed was Panel regression. The result of this research finds that firm's value and return on asset gives significant influence on dividend policy. The other variables which the debt to equity ratio does not give significant influence on dividend policy. From the observation, the result can be concluded that all of the independent variables such as firms value, debt to equity ratio and return on asset simultaneously and significantly the dependent variable, dividend policy. Meanwhile, the variables influence dividend policy partially include firms value.
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