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  • RELEVANCE OF FINANCIAL RATIOS TO DETERMINE THE DIVIDEND YIELD IN MANUFACTURING COMPANY LISTED ON INDONESIA STOCK EXCHANGE 2005 - 2009 | Purniawan | AKUNTABILITAS

    RELEVANCE OF FINANCIAL RATIOS TO DETERMINE THE DIVIDEND YIELD IN MANUFACTURING COMPANY LISTED ON INDONESIA STOCK EXCHANGE 2005 - 2009

    Eric Purniawan, Mukhtaruddin Mukhtaruddin

    Abstract


    This study aims to determine the effect of financial ratios information to predict the
    Dividend Yield. The financial ratios are projected into five independent variables, namely
    Net Profit Margin (NPM), Return On Equity (ROE), Return On Asset (ROA), Return On
    investment (ROI), and Debt to Equity (DER), and one dependent variable, namely
    Dividend Yield (DY).
    The population in this research are all of manufacturing companies that listed on
    Indonesia Stock Exchange in 2009 as many as 139 companies. By using the purposive
    judgement sampling, it was determined there are 25 companies that are used as research
    samples. All data used in this research are secondary data that obtained from the
    Indonesia Stock Exchange's official website. The data analysis tool in this research is a
    linier regression because the independent and dependent variable in this research is in
    percentage ratios variable. The data analysis techniques in this research include
    descriptive statistical tests, classical test assumption and the linier regression test both
    simultaneously or separately.
    From the analysis of hypothesis testing simultaneously, it can be concluded that all
    independent variables in this research have significant effect against Dividend yield in
    manufacturing companies that listed on Indonesia Stock Exchange (2005 – 2009) with a
    significant level sig= 0,012. From the analysis of hypothesis testing separately, it can be
    concluded that only two variables that have a significant effect against Dividend Yield,
    those are Net Profit Margin (NPM) and Return On equity (NPM) with a significant level
    sig= 0,029 and sig=0,038, so those variables are reliable in predicting the level of
    investment gains (Dividend Yield).




    DOI: https://doi.org/10.29259/ja.v6i2.8766

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