Pengaruh Profitabilitas Likuiditas Free Cash Flow dan Ukuran Perusahaan Terrhadap Kebijakan Dividen pada Perushaan Manufaktur yang Terrdaftar di Bursa Efek Indonesia Tahun 2017-2022

Abstract

Dividend policy is one of the important points of motivation for investors to invest their funds in the capital market. So this aims to determine and analyze the effect of profitability research on asset returns, liquidity with c9urrent ratios, free cash flow, and companies with firm size on dividend policy. The population of this study consisted of manufacturing companies listed on the Indonesia Stock Exchange for the 2017-2020 period, this study used a purposive sampling and based on the criteria obtained as many as 42 companies with a total of 168 data analysis units. The data used in this study uses secondary data from the company's financial statements. The data analysis method used in this study used descriptive statistical methods, correlation analysis, classical assumption test, panel data regression, and hypothesis testing using Stata data management software version 17. The results showed that profitability showed positive butinsignificant, while liquidity , free cash flow, and company size together show a negative and insignificant effect on dividend policy in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2017-2020 period.