Putri, Suci Amelia (2025) Pengaruh Profitabilitas, Likuiditas Dan Ukuran Perusahaan Terhadap Kebijakan Dividen Perusahaan Kelompok Indeks Idx High Dividend 20 Di Bursa Efek Indonesia Tahun 2019-2023. Other thesis, Universitas Islam Riau.

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Abstract

This study aims to determine the effect of profitability, liquidity, and firm size on dividend policy in companies listed in the IDX High Dividend 20 index on the Indonesia Stock Exchange for the period 2018–2023. The research method used is a quantitative research approach. The population of this study consists of 20 companies included in the IDX High Dividend 20 index. The sample size was determined using a purposive sampling technique, resulting in a final sample of 11 companies based on predetermined criteria. The study covers a six-year period, leading to a total of 66 observational data points. The data used in this study is secondary data obtained from company financial statements. The data analysis technique employed is multiple linear regression analysis, utilizing three panel data models tested with EViews software. The selected panel data regression model is the Fixed Effect Model (FEM). The partial results of the study indicate that profitability, proxied by Return on Assets (ROA), has a negative and significant effect on dividend policy (Dividend Payout Ratio, DPR). Liquidity, proxied by the Current Ratio (CR), has a positive and significant effect on dividend policy (DPR). Firm size, measured using the natural logarithm of total assets (Ln.Total Asset), also has a positive and significant effect on dividend policy (DPR). Simultaneously, profitability (ROA), liquidity (CR), and firm size (Ln.Total Asset) have a positive and significant effect on dividend policy, as proxied by the Dividend Payout Ratio (DPR).

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