PENGARUH DIVIDEND PAYOUT RATIO DAN RETURN ON INVESTMENT TERHADAP HARGA SAHAM PERUSAHAAN BARANG KONSUMSI DI BURSA EFEK JAKARTA

Yuny Ristiyani

Abstract


This research is a Verification research on consumer goods company registered in Jakarta Stock Exchange entited ?Effect of Dividend Payout Ratio and Return On Investment On Stock Price of Consumer Goods Company in Jakarta Stock Exchange.
Purpose of this research is to know the magnitude of effect of dividend payout ratio and return on investment simultaneously on stock price and to know which factor having the most dominant effect on stock price, whether it is dividend payout ratio or return on investment.
In this research, writer takes hypotesis that dividend payout ratio and return on investment simultaneously have signifikan effect on stock price, and return on investment has the most dominan effect on stock price.
This research uses financial report data of consumer goods company registered in Jakarta Stock Exchange since 1999-2001, with sample numbers of 35 companies registered in Jakarta Stock Exchange. Data analysis technique is multiple regression analysis. F-test and t-test used to test research hypotesis.
Result of the research shows that from hypotesis result for F-test it is proven that p-value is significant. It is 3,658>3,085. It means all independent variables have significant sffect on dependent variable. For t-test, p-value of dividend payout ratio is 1,137<1,983. It means dividend payout ratio doesn?t have significant effect on stock price. P-value of return on unvestment is 1,996>1,983, it means return on investment has the most dominant effect on stock price. Increase of return on investment cause increase of stock price. So, hypotesis in this research which is proven to have the most dominant effect on stock price is return on invetment.
Based on the conclusion above, writer can suggest that investor should consider dividend payour ratio and return on investment as reference in making decision, because stock price is determined by the two variables, in particular return on investment which has sufficient strong effect on stock price change. Emitent also should consider other external factor besides return on invetment which affect stock price, such as political and economical stability of the country.

 

Keyword : DIVIDEND PAYOUT RATIO; RETURN ON INVESTMENT

 

Link Terkait : http://skripsi.umm.ac.id/files/disk1/33/jiptummpp-gdl-s1-2004-yunyristiy-1646-Pendahul-n.pdf


Keywords


DIVIDEND PAYOUT RATIO; RETURN ON INVESTMENT