Pengaruh Rasio Keuangan terhadap Kebijakan Deviden dengan Ukuran Perusahaan Sebagai Variabel Moderating Pada Perusahaan Sektor Properti, Real Estate dan Konstruksi Bangunan yang Terdaftar di Bursa Efek Indonesia

Abstract

This study aims to examine the effect of financial ratio (return on asset, cash ratio and debt to equity ratio) on dividend policy and to test the effect of return on asset, cash ratio and debt to equity ratio to dividend policy with the firm size as a moderating variable in the property sector companies, real estate and building construction listed on the Indonesia Stock Exchange with a period of observation 2018-2020. Sampling method with saturated samples with calculation using slovin formula so that the number of samples of 48 companies with a total of 144 observations with data collection methods in documentation. By using multiple linear regression analysis, the result of this research shows that partially only return on asset has a significant effect on the dividend policy. Furthermore, the results of this study indicate that firm size is not able to moderate the relationship between financial ratios (ROA, CR, DER) against dividend policy