Faktor-faktor penentu dividend payout policy pada perusahaan manufaktur di Bursa Efek Indonesia
P Penelitian ini bertujuan untuk menguji pengaruh dari profitability, firm size, financialleverage, liquidity, free cash flow, insider ownership dan earnings per share terhadapdividend payout ratio. Sampel dalam penelitian ini adalah perusahaan manufaktursektor barang konsumen primer dan non primer yang terdaftar di Bursa Efek Indonesiaperiode tahun 2017 hingga tahun 2021. Sampel penelitian ini berjumlah 32 perusahaandengan menggunakan teknik purposive sampling. Hasil analisis regresi data panelmenunjukkan bahwa profitability berpengaruh negatif dan signifikan terhadapdividend payout ratio, firm size tidak berpengaruh terhadap dividend payout ratio,financial leverage berpengaruh negatif dan signifikan terhadap dividend payout ratio,liquidity tidak berpengaruh terhadap dividend payout ratio, free cash flow tidakberpengaruh terhadap dividend payout ratio, insider ownership berpengaruh positifdan signifikan terhadap dividend payout ratio, earnings per share tidak berpengaruhterhadap dividend payout ratio. Penelitian ini diharapkan dapat membantu untukmenjadi salah satu dasar pertimbangan bagi perusahaan dalam mengambil keputusanuntuk menentukan Dividend Payout Policy.
T This study aims to examine the effect of profitability, firm size, financial leverage,liquidity, free cash flow, insider ownership and earnings per share on the dividendpayout ratio. The sample in this study is primary and non-primary consumer goodsmanufacturing companies listed on the Indonesia Stock Exchange for the period 2017to 2021. The sample of this research is 32 companies using purposive samplingtechnique. The results of panel data regression analysis show that profitability has anegative and significant effect on the dividend payout ratio, firm size has no effect onthe dividend payout ratio, financial leverage has a negative and significant effect onthe dividend payout ratio, liquidity has no effect on the dividend payout ratio, and freecash flow has no effect. on the dividend payout ratio, insider ownership has a positiveand significant effect on the dividend payout ratio, earnings per share has no effect onthe dividend payout ratio. This research is expected to help to become one of the basicconsiderations for companies in making decisions to determine the Dividend PayoutPolicy.