Faktor-Faktor Yang Memengaruhi Kebijakan Dividen Pada Perusahaan Manufaktur Yang Terdaftar Di BEI

Abstract

This study aims to determine the effect of managerial ownership, institutional
ownership, sales growth, and firm size on dividend policy. The object of this research
is the food and beverage sector manufacturing companies listed on the Indonesia Stock
Exchange for the period 2017-2019. The research population is a manufacturing
company in the food and beverage sector in 2017-2019. According to Bahri (2018;51)
the sample is part of the population taken from certain ways that also have certain
characteristics. The method of determining the research sample is purposive sampling.
Purposive sampling is a sample selection technique based on certain criteria with the
aim of providing maximum information (Bahri, 2018; 66). The existence of institutional
ownership serves to monitor the performance of management by outsiders, while the
portion of managerial ownership which is also a shareholder tries to maximize its
performance. The growth of the sales rate shows that the company's profit is increasing.
Dividends distributed to investors come from the company's profits so that with
increased sales, the profits earned by the company also increase and the dividends
distributed also increase. The size of the company is accepted, which means that the
size of the company affects the dividend policy.