DETERMINING FACTOR OF DIVIDEND PAYOUT RATIO TO CONSUMER GOODS INDUSTRY IN INDONESIA

Abstract

The research aimed to find out the influence of financial ratio toward dividend payout ratio to consumer goods industry partially simultaneously with valuation ratio as a moderating variable. The independent variable are cash ratio, return on assets, assets growth, debt equity ratio and firm size. Good corporate governance of the valuation ratio as a moderating variable and dividend payout ratio as a dependent variable.This research uses a quantitative approach and implements both multiple regression analysis and moderated regression analysis. The population in this research is the consumer goods industry with period from 2015 to 2019 in annual data. The purposive sampling method, and panel data obtained from the IDX website and Wall Street Journal, this data uses 65 observation dat from 13 companies with the financial statement which fulfilled the sample criteria. The result of the research dividend payout ratio have a significant influence with all the independent variable with 43.01%. Good corporate governance as a moderating variable can strengthen variable return on assets to dividend payout ratio and debt equity ratio variable has weakness with good corporate governance to dividend payout ratio.