Analisis Faktor Yang Mempengaruhi Kebijakan Dividen Pada Perusahaan Publik Di Indonesia

The objective of this research is to analysis what factors influence dividend payout ratio The proposed hypothesis in this research are : (HI) insider ownership, institusional ownership, firm size, firm growth, and debt policy simultaneously influential to dividend payout ratio, (H2) insider ownership, institusional ownership, firm size, growth, and debt policy according to partial influential to dividend payout ratio. The population of this research was listed all compa- nies at Indonesia Stock Exchange(IDX) in 2005-2007, and the sample was determined based on the purposive sampling method. The amount of the sample was 17 companies from three (3) years observation (2005-2007). Multiple Regression Method used to analysis influence independent variable to dependent variable. Assumption classic tests are done, there are normality test with graph analysis normal plot, heteroskedasticity test with graph scatter plot analysis, autocorrelation test with Durbin-Watson test, and multicolinearily test with VIF test. The hypothesis is tested by F~ test and T- lest. The result of hypothesis testing show F~ test significant (p value > 0,05), so HI accepted or insider ownership, institusional ownership, firm size, growth, and debt policy simultaneously influential to dividend payout ratio. According to partial variabel institusional ownership, firm growth influential to dividend payout ratio. Keywords : dividend policy, ownership, firm, deb