PENGARUH LEVERAGE, KEPEMILIKAN MANAJERIAL DAN GROWTH TERHADAP KEBIJAKAN DIVIDEN (StudiEmpirispada Perusahaan Manufaktur yang Terdaftar di Bursa Efek IndonesiaPeriode 2010-2013)

Abstract

This study aimed to examine and discover the effect of leverage, managerial ownership and growth on the dividend policy. This study considered the associative research. The population of this study is manufactured company that listed in Indonesia Stock Exchange from 2010 to 2013.  The sample selection setting by specific criteria and samples that meet the criteria are as many as 71 companies. The analysis used is multiple linear regression and t-test to find the effect of leverage, managerial ownership and growth on the dividend policy. The result show that :   1) leverage has significant value 0,031< 0,05, where the coefficient (β) is 0,048. This indicates that leverage  has significant negative effect on dividend policy.  2) managerial ownership has significant value 0,034<0,05, where the coefficient (β) is 0,015. This indicates that managerial ownership has significant negative effect on dividend policy. 3) growth has significant value 0,068 >0,05 where the coefficient (β) is 0,094. This indicates that growth has no effect on dividend policy. In this study suggested : For further research should expand the research by expand the independent variable, expand the research interval, and expand the sample not only manufactured companies.

Keyword :  Dividend Policy, Leverage, Managerial Ownership, Growth.