ANALISIS PENGARUH LABA BERSIH, ARUS KAS, DAN HUTANG TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015-2019

Abstrak

This study aims to analyze the effect of net income, operating cash flow, and debt on dividend policy in pharmaceutical companies listed on the Indonesia Stock Exchange in 2015-2019. This type of research is quantitative research. The variables of this research are Net Profit, Cash Flow, Debt, and Dividend Payout Ratio. The population of this study are pharmaceutical companies listed on the Indonesia Stock Exchange, the sample of this study is 7 pharmaceutical companies listed on the Indonesia Stock Exchange. This type of research data is quantitative data, as well as secondary data. Data collection techniques using documentation study techniques and literature studies. The data analysis technique used classical assumption test, normality test, multicollinearity test, heteroscedasticity test, autocorrelation test, multiple linear regression analysis, hypothesis testing and coefficient of determination test (R2). The results showed that the variables of net income and debt had no partial significant effect on dividend policy, while cash flow had a partial effect on dividend payout ratio. Meanwhile, simultaneously net income, cash flow, and debt have a positive and significant effect on dividend payout ratio.