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PENGARUH PROFITABILITAS, LIKUIDITAS, LEVERAGE, FREE CASH FLOW, CORPORATE GOVERNANCE DAN ASSETS GROWTH TERHADAP KEBIJAKAN DIVIDEN

Jurnal Manajemen dan Kewirausahaan · Vol. 14 No. 1 (2022)

DOI
10.55598/jmk.v14i1.26996
ISSN
2685-5151, 2085-0085
Published
2022-08-05
Publisher
Jurusan Manajemen, Fakultas Ekonomi dan Bisnis, Universitas Halu Oleo
Language
eng
License
creativecommons.org/licenses/by-sa/4.0

Abstract

This study aims to examine the effect of profitability, liquidity, leverage, free cash flow, corporate governance and asset growth on dividend policy. The object of this research is 181 the manufacturing company listed on the Indonesia Stock Exchange for the 2015-2019 period. Sample selection was determined by purposive sampling method. In total, there are 24 companies that meet the research criteria. This study uses secondary data which was analyzed using panel data regression analysis and processed using application review 9. The results of this study indicate that asset growth has a positive and significant effect on the dividend payout ratio, meaning that asset growth is able to increase dividend distribution. Furthermore, the return on assets and the current ratio have a negative and significant effect, meaning that an increased return on assets and current ratio will reduce the distribution of dividends. The debt-to-asset ratio has a negative and insignificant effect, meaning that a high debt-to-asset ratio is not able to reduce dividend distribution. The audit committee has a positive and insignificant effect on the dividend payout ratio, meaning that a high audit committee is not able to increase dividend distribution. Furthermore, free cash flow has a positive and insignificant effect on the dividend payout ratio, meaning that high free cash flow is not able to increase dividend distribution to shareholders.

Keywords

Collaboration network of the authors

40 authors · 254 co-authorship links · 5 across different organisations · showing the 40 most connected

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • Universiti Teknologi MARA
  • Universitas Muhammadiyah Kendari
  • Universitas Halu Oleo
  • Malaysian Nuclear Agency
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Salma SalehAffiliation unknown9
Sujono SujonoAffiliation unknown7
Zaluddin ZaluddinAffiliation unknown6
Nurwati NurwatiAffiliation unknown5
Nuryamin BudiAffiliation unknown5
Samdin SamdinAffiliation unknown5
Juharsah JuharsahAffiliation unknown5
Valentinus AmstrongAffiliation unknown4
Hartini HartiniAffiliation unknown4
Yusuf MontunduAffiliation unknown4
Yusuf YusufUniversitas Muhammadiyah Kendari4
Endro SukotjoAffiliation unknown4
Lucia Evianti PatulakAffiliation unknown4
Nursaban Rommy SulemanAffiliation unknown3
La HataniAffiliation unknown3
Putu SumarniwatiAffiliation unknown3
Farhan Ramdhani IstianandarAffiliation unknown3
Alida PalilatiAffiliation unknown3
Valentinus Amstrong TNAffiliation unknown3
Dedy Takdir SyaifuddinAffiliation unknown2
Sudirman ZaidAffiliation unknown2
La Ode Bahana AdamAffiliation unknown2
Agustinus TangalayukAffiliation unknown2
La Ode Asfahyadin AliddinAffiliation unknown2
Sri Wiyati MahraniAffiliation unknown2
Abdul Razak YusufAffiliation unknown2
Nofal NurAffiliation unknown2
Rahmat MadjidAffiliation unknown2
Muh. TaufikAffiliation unknown2
Nursaban RommyAffiliation unknown2
Hayat YusufAffiliation unknown2
Nasrul NasrulUniversitas Halu Oleo2
Murizah Binti KassimUniversiti Teknologi MARA1
Mohd Sabri MinhatMalaysian Nuclear Agency1
Intan Nabina AzmiUniversiti Teknologi MARA1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://ojs.uho.ac.id/index.php/manajemen/oai, first harvested 30 Okt 2026, last seen 1 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en-US">PENGARUH PROFITABILITAS, LIKUIDITAS, LEVERAGE, FREE CASH FLOW, CORPORATE GOVERNANCE DAN ASSETS GROWTH TERHADAP KEBIJAKAN DIVIDEN</dc:title>
	<dc:creator>Wati, Norma</dc:creator>
	<dc:creator>Sarita, Buyung</dc:creator>
	<dc:creator>Madi, Riski Amalia</dc:creator>
	<dc:creator>Hajar, Ibnu</dc:creator>
	<dc:creator>Hamid, Wahyuniati</dc:creator>
	<dc:subject xml:lang="en-US">Keuangan; Finance</dc:subject>
	<dc:subject xml:lang="en-US">Profitability; Liquidity; Leverage; Free Cash Flow; Corpoorate Governance; Asset Growth; Dividend Policy</dc:subject>
	<dc:subject xml:lang="en-US"></dc:subject>
	<dc:description xml:lang="en-US">This study aims to examine the effect of profitability, liquidity, leverage, free cash flow, corporate governance and asset growth on dividend policy. The object of this research is 181 the manufacturing company listed on the Indonesia Stock Exchange for the 2015-2019 period. Sample selection was determined by purposive sampling method. In total, there are 24 companies that meet the research criteria. This study uses secondary data which was analyzed using panel data regression analysis and processed using application review 9.  The results of this study indicate that asset growth has a positive and significant effect on the dividend payout ratio, meaning that asset growth is able to increase dividend distribution. Furthermore, the return on assets and the current ratio have a negative and significant effect, meaning that an increased return on assets and current ratio will reduce the distribution of dividends. The debt-to-asset ratio has a negative and insignificant effect, meaning that a high debt-to-asset ratio is not able to reduce dividend distribution. The audit committee has a positive and insignificant effect on the dividend payout ratio, meaning that a high audit committee is not able to increase dividend distribution. Furthermore, free cash flow has a positive and insignificant effect on the dividend payout ratio, meaning that high free cash flow is not able to increase dividend distribution to shareholders.</dc:description>
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	<dc:contributor xml:lang="en-US"></dc:contributor>
	<dc:date>2022-08-05</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
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	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
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	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://ojs.uho.ac.id/index.php/manajemen/article/view/26996</dc:identifier>
	<dc:identifier>10.55598/jmk.v14i1.26996</dc:identifier>
	<dc:source xml:lang="en-US">Jurnal Manajemen dan Kewirausahaan; Vol 14, No 1 (2022): Edisi Januari; 350</dc:source>
	<dc:source>2685-5151</dc:source>
	<dc:source>2085-0085</dc:source>
	<dc:source>10.55598/jmk.v14i1</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://ojs.uho.ac.id/index.php/manajemen/article/view/26996/pdf</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2022 Jurnal Manajemen dan Kewirausahaan</dc:rights>
	<dc:rights xml:lang="en-US">http://creativecommons.org/licenses/by-sa/4.0</dc:rights>
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