The influence of current ratio, debt to equity ratio, and return on assets on dividend payout ratio

https://doi.org/10.35912/ijfam.v3i3.221
Published: Dec 14, 2021

Abstract:

Purpose: This study aimed to determine whether the current ratio, debt to equity ratio, and return on assets affected the dividend payout ratio of mining companies listed on the Indonesia Stock Exchange for the 2016-2018 period.

Research Methodology: The research method used in this study was an explanatory method. The sampling technique used in this study was non-probability sampling with a purposive sampling technique so that the total sample size was 34 mining companies listed on the Indonesia Stock Exchange for the period 2016-2018. The analysis method used in this research was panel data regression analysis using Eviews 9.

Results: The results showed that the current ratio, debt to equity ratio, and return on assets affected the dividend payout ratio. In addition, the research results also showed that the magnitude of the influence of the current ratio, debt to equity ratio, and return on assets in contributing to the dividend payout ratio was 51.5%.

Limitations: The study was limited to only a few factors, namely the current ratio, debt to equity ratio, and return on assets to the dividend payout ratio.

Contribution: This research is expected to be of benefit to the company in determining the policy of dividend distribution from several financial performance factors including current ratio, debt to equity ratio, and return on assets.

Keywords:
1. Current ratio
2. Debt to equity ratio
3. Return on assets
4. Dividend payout ratio
Authors:
1 . Widya Shabrina
Accounting Department, Faculty of Economics and Business, University of Widyatama, Bandung, Indonesia
2 . Niki Hadian
Accounting Department, Faculty of Economics and Business, University of Widyatama, Bandung, Indonesia
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How to Cite
Shabrina, W., & Hadian, N. (2021). The influence of current ratio, debt to equity ratio, and return on assets on dividend payout ratio. International Journal of Financial, Accounting, and Management, 3(3), 193–204. https://doi.org/10.35912/ijfam.v3i3.221
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Issue & Section
Vol. 3 No. 3 (2021): December
Articles
References

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  1. Adhyvian, R., Mardani, R. M., & Wahono, B. (2019). Analisis Pengaruh Net Profit Margin (NPM), Current Ratio (CR) dan Debt to Equity Ratio (DER) Terhadap Dividend Payout Ratio. E-Jurnal Riset Manajemen.
  2. Atmaja, L. S. (2008). Teori dan Praktik Manajemen Keuangan. Yogyakarta: 2008.
  3. Brigham, F. E., & Houston, F. J. (2011). Dasar-Dasar Manajemen Keuangan. Edisi 11. Buku 2. Jakarta: Salemba Empat.
  4. Hery. (2018). Analisis Laporan Keuangan. Jakarta: Grasindo.
  5. Ibrahim, M. (2019). Pengaruh Debt To Equity Ratio, Return On Asset, Current Ratio Terhadap Dividend Payout Ratio Pada Perusahaan Sub Sektor Farmasi. Jurnal Aplikasi Manajemen dan Inovasi Bisnis, 1.
  6. Ikatan Akuntansi Indonesia. 2018. Pernyataan Standar Akuntansi Keuangan. Edisi Revisi. Jakarat : Dewan Standar Akuntansi Keuangan.
  7. Kasmir. (2019). Pengantar Manajemen Keuangan. Jakarta: Prenadamedia Group.
  8. Mufidah dan Rikha Muftia Khorunnisa. 2016. Analisis Pengaruh Cash Ratio, Debt To Equity Ratio dan Return On Asset Terhadap Dividend Payout Ratio. Jurnal Fokus, Volume 6, Nomor 2 September 2016.
  9. Mufidah, M. (2018). Pengaruh Asset Growth, Sales Growth, Net Profit Margin, Current Ratio dan Debt To Equity Ratio terhadap Dividend Payout Ratio Pada Perusahaan Yang Termasuk Dalam Indeks LQ 45 Tahun 2013-2016. J-MAS (JurnalManajemen Dan Sains), 3(1), 12.
  10. Purba, D. P., Sheren, ., Valent, ., & Angeline, . (2019). Pengaruh Current Ratio (CR), Debt To Equity Ratio (DER) dan Return on Equity (ROE) Terhadap Dividend Payout Ratio (DPR) Pada Perusahaan Sektor Industri Barang Konsumsi Di Bursa Efek Indonesia (BEI) Tahun 2013 –2017. Going Concern?: Jurnal Riset Akuntansi, 14(1), 214–224.
  11. Samsul, M. (2015). Pasar Modal dan Manajemen Portofolio. Jakarta: Erlangga.
  12. Sarmo, Sulaiman., Muttaqillah, dan Handri Amin Effendi. Pengaruh Earnings After Tax, Current Ratio, Debt To Equity Ratio Terhadap Deviden Payout Ratio. Universitas Mataram. Jurnal Ilmiah. Vol. 16 No. 1, Januari 2019: 86-98.
  13. Sartono, R. A. (2001). Manajemen Keuangan. Yogyakarta: Fakultas ekonomi UGM.
  14. Sjahrial, D. (2009). Pengantar Manajemen Keuangan. Jakarta: MItra Wacana Media.
  15. Sutrisno. (2012). Manajemen Keuangan,Teori,Konsep, dan Aplikasi Edisi Kedelapan. Yogyakarta: Ekonisia.
  16. Tandelilin, E. (2017). Pasar Modal. Yogyakarta: PT Kanisius Yogyakarta
  17. Trilestari, A., & Kusuma, D. R. (2016, Maret 1). Analisis Pengaruh Cash Positio, Debt To Equity Ratio, dan Return On Assets Terhadap Dividen Payout Ratio Pada Perusahaan-Perusahaan Yang Terdafatar Di Bursa Efek Indonesia Periode 2012-2014. Jurnal Fokus, 6(1).
  18. Wicaksana, I. G. (2012). "Pengaruh Cash Rasio, Debt to Equity Ratio, dan Return On Asset terhadap Kebijakan Dividen pada perusahaan Manufaktur Di Bursa Efek Indonesia" Tesis.