PENGARUH PERTUMBUHAN PERUSAHAAN, PROFITABILITAS DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN DENGAN GROWTH SALES SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI 2016-2019

Abstract

This study aims to obtain empirical evidence regarding the influence of company growth, profitability, and firm size on dividend policy with sales growth as a moderating variable. The independent variables used are Company Growth, Profitability and Company Size. The dependent variable used is dividend policy. The moderating variable used is sales growth. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2016-2019 period. The sample method used was purposive sampling, with a total of 23 companies as the sample. The method of research analysis used multiple linear regression analysis and regression analysis. The results showed that company growth, profitability and company size had an effect on dividend policy. Sales growth is the relationship between company growth and dividend policy, sales growth can link the relationship between profitability and dividend policy and sales growth can link the relationship between the company and dividend policy. The test results of the coefficient of determination show that the independent variables, the moderating variable, and the interaction of the two variables are only able to explain the dependent variable 27% while the remaining 73% are other invalid variables.