Analisis Fundamental Saham Syariah dan Saham Kovensional terhadap Kebijakan Pembayaran Dividen (Studi pada Perusahaan Manufaktur yang Terdaftar di JII dan Lq45 Periode 2010-2013)

摘要

This study is to determine the simultaneous and partial effect of Cash Ratio, Current Ratio (CR), Total Assets Turnover (TATO), Return On Equity (ROE), Earning Per Share (EPS), and Debt Equity Ratio (DER) to the Dividend Payout Ratio (DPR). This research is an explanatory research with a quantitative approach. The samples used in this study were 8 manufacturing companies, including six companies listed in Jakarta Islamic Index (JII) and two companies listed in LQ45. The data analysis used in this study is a multiple linear regression analysis. The results of this study are Cash Ratio, Current Ratio (CR), Total Assets Turnover (TATO), Return On Equity (ROE), Earning Per Share (EPS), and Debt Equity Ratio (DER) simultaneous affecting the Dividend Payout Ratio (DPR) on manufacturing companies listed in JII and LQ45. These results demonstrated by the probability value of F 0,000 (α ≤ 0.05) on companies listed in JII and 0,029 (α ≤ 0.05) on companies listed in LQ45. Cash Ratio, Current Ratio (CR), Total Assets Turnover (TATO), and Debt Equity Ratio (DER) are partially affecting the Dividend Payout Ratio (DPR) on the company listed in JII, while Current Ratio (CR) and Earning Per Share (EPS) are partially affecting significant to dividend Payout Ratio (DPR) on the companies listed in LQ45. The obtained results are proved by the results of the t test of each independent variables on the dependent variable and the result of the Sig. ≤ α (α = 0.05) that indicates the variables have significant effect partially.