Pengaruh Karakteristik Perusahaan Terhadap Pola Pembayaran Dividen pada Perusahaan Sub-sektor Makanan & Minuman

KARTIKA, DEVI and Anastasia, Njo (2019) Pengaruh Karakteristik Perusahaan Terhadap Pola Pembayaran Dividen pada Perusahaan Sub-sektor Makanan & Minuman. In: Senima 4, 05-10-2019 - 05-10-2019, Surabaya - Indonesia.

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Abstract

Investment is an activity to invest some money to get return in the future, which is greater than inflation. Stocks is one of many example of investment. Some investors like to invest their money in the company who pays dividends regularly. This research objective is to analyze whether firm characteristics affect the dividend payment patterns in food and beverages sub-sector. Dividend Payout Ratio is used for dividend payment patterns indicator. The indicator of firm characteristics consist of Debt to Equity Ratio, Return On Equity, Market to Book Value Ratio, and number of institutional investors. This research utilized Probit logistic regression method with data from companies listed in IDX in the food and beverages sub-sector during the 2014-2018 period. This research’s results found that bigger or smaller Debt to Equity Ratio, Return On Equity, and Market to Book Value Ratio do not significantly affect the dividend payment patterns. Whereas, number of institutional investors does significantly affect the dividend payment patterns. Limitation of this research is some companies do not issue annual report regularly from year to year, so the number of sample is limited. Thus, in future studies, annual report data along with other data sources (Bloomberg) can be used to complement each other. Implication of this research can be used for investors as the consideration for investment as a shareholder in a company.

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