PENGARUH RASIO PEMBAYARAN DEVIDEN TERHADAP HARGA SAHAM PERUSAHAAN YANG GO PUBLIK PADA INDUSTRI OTOMOTIF

Intan Puspita Dewi, Zuhri (2009) PENGARUH RASIO PEMBAYARAN DEVIDEN TERHADAP HARGA SAHAM PERUSAHAAN YANG GO PUBLIK PADA INDUSTRI OTOMOTIF. Other thesis, University of Muhammadiyah Malang.

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Abstract

This research is taken place in Indonesian Stock Exchange (BEI) of UMM. It represents hypotheses testing conducted on Automotive Companies, which go public in BEI period of 1999-2007, under the title “Effect of Dividend Payment Ratio on Stock Price of the Companies that Go Public in Automotive Industry”. Analysis instruments used in this research is double linear regression, T-test and F-test. Purpose of this research is to know the effect of independent variable, both partially and simultaneously, on dependent variable that is stock price. Analysis technique is lag distribution regression, that is regression model involving independent variable, which are not only comprising current period but also the previous periods. Data analysis produces R2 value of 0.469. It indicates that as much as 46.9% of stock price changes are explained by dividend-payment ratio on t-, t-1 and t-2 periods. From T-test result, it shows that dividend-payment ratio on t-, t-1, and t-2 periods, partially, have effect on stock price. It is indicated by Tcount bigger than Ftable. While, F-test shows that dividend-payment ratio, simultaneously, has effect on stock price. It is indicated by Fcount (3.167) > Ftable (2.816) and negative mark obtained from the conducted analysis. Thus, if dividend-payment ratio increases, stock price decreases. From the explanation above, it can be drawn a conclusion that dividend-payment ratio has effect on company’s stock price that go public in automotive industry. It indicates that dividend payment ratio is not a relevan information for stockholder to make investment decisions in terms of stock sale transaction in Indonesian Stock Exchange (BEI). There are many factors affecting stock prices beyond dividend-payment ratio. One of those factors is unstable economy condition of Indonesia.

Item Type: Thesis (Other)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Economic > Department of Management
Depositing User: Anwar Jasin
Date Deposited: 31 May 2012 04:40
Last Modified: 31 May 2012 04:40
URI: http://eprints.umm.ac.id/id/eprint/6267

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