Analisis Pengaruh Profitabilitas, Likuiditas, Leverage, Struktur Kepemilikan dan Corporate Governance terhadap Kebijakan Dividen pada Perusahaan Terindeks IDXHIDIV20 Tahun 2019–2022

Abstract

This research aims to determine the influence of profitability, liquidity, leverage, ownership structure and corporate governance on dividend policy in IDXHIDIV20 indexed companies. This research design is quantitative using secondary data. The data used was obtained from the audited company's financial and annual reports on the Indonesian Stock Exchange. The research sample used as research object was 13 companies with a time span of 4 years or a total of 52 observation units. In this research, the analysis technique used is panel data regression with the Fixed Effect Model (FEM) approach. The research results show that the variables profitability (Return on Equity), liquidity (Current Ratio) and leverage (Debt to Equity Ratio) do not have a partially significant influence on the company's dividend policy indexed IDXHIDIV20. Meanwhile, the company ownership structure (Institutional Ownership) and corporate governance (Transparency and Disclosure Index) variables show a significant influence with a positive relationship direction. In addition, the research results show that ROE, CR, DER, INSTOWN and TDI simultaneously influence the dividend policy of IDXHIDIV indexed companies in 2019 – 2022.