Pengaruh Corporate Governance Terhadap Dividend Payout Ratio Pada Perusahaan Manufaktur Di Bursa Efek Indonesia

Abstract

Dividends are important things that investors pay attention to in the long terms. In this case, investors need to analyze well and correctly so as not wrong in terms of investment. With good management, it is expected that the board of directors can distribute dividends in accordance with the profits and ways that have been determined. The research is expected to help investors to be more observant in analyzing stocks by considering Corporate Governance as one of the factors influencing dividend payout. This study aims to provide empirical evidence of the influence of companies that do corporate governance to dividend payout ratio. The sample used in this study is a company listed on the Indonesia Stock Exchange in 2012, 2013, 2014, 2015, 2016. Corporate Governance is measured using Board Independence, Board Meeting, and Board Financial Expertise. The total sample of the company amounted to 729 companies for 5 years, but the sampling criteria in this study using purposive sampling that ad finally only left 216 companies that will be used for statistical testing. This research method uses simple linear regression with the help of IBM SPSS 22 test instrument. This research is tested by t test. The results of this study indicate that Board Independence, Board Meeting and Board Financial Expertise have no effect on dividend payout. The limitation of this research is the less long research period, the sample of research is only limited to the manufacturing company, and indirectly use proxy Corporate Governance score card in measuring Corporate Governance. Subsequent research can add to the study period, taking samples of data not only on manufacturing companies, using Corporate Governance score cards in measuring Corporate Governance, as well as adding other variables that affect the dividend payout for further testing.