The Influence of Managerial Ownership, Profitability, Leverage, Company Size, and Capital Structure on Dividend Policy in Oil and Gas Sub-Sector Companies Listed on the Indonesia Stock Exchange for the Period 2019–2023 from an Investment Literacy Perspective
DOI:
https://doi.org/10.58737/jpled.v6i2.840Keywords:
Managerial Ownership, Profitability, Leverage, Firm Size, Capital Structure, Dividend Policy, Investment Literacy PerspectiveAbstract
This study aims to analyze the effect of Managerial Ownership, Profitability, Leverage, Firm Size, and Capital Structure on Dividend Policy in manufacturing companies within the Oil and Gas sub-sector listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. This research is associative in nature, which means it seeks to determine the relationship or influence between two or more variables. Since it focuses on analyzing the influence of independent variables—Managerial Ownership, Profitability, Leverage, Firm Size, and Capital Structure—on the dependent variable, Dividend Policy, in oil and gas manufacturing companies listed on the IDX, the study falls into the category of associative research. The results of the study indicate the following: First, the managerial ownership variable (X1) has a regression coefficient of -0.058367 with a t-statistic value of -0.327488 < t-table of 1.795, and a significance value of 0.019 < 0.05. Based on these results, the decision taken is to accept H0 and reject Ha.Second, the leverage variable (X2) has a regression coefficient of -0.023137 with a t-statistic value of -0.152861 > t-table of 1.795, and a significance value of 0.442 < 0.05. Based on these results, the decision is to reject H0 and accept Ha. Third, the firm size variable (X3) shows a regression coefficient of 0.149941 with a t-statistic value of 0.772473 > t-table of 1.943, and a significance value of 0.442 < 0.05. Thus, the decision taken is to reject H0 and accept Ha. Fourth, the capital structure variable (X4) has a regression coefficient of 0.641098 with a t-statistic value of 1.284546 > t-table of 1.795, and a significance value of 0.203 < 0.05. Therefore, the decision taken is to accept H0 and reject Ha. Fifth, based on the simultaneous hypothesis testing of the variables Managerial Ownership, Profitability, Leverage, Firm Size, and Capital Structure, the F-statistic value is 1.1814 > F-table of 2.203, with a probability value (F-statistic) of 0.036 < 0.05. Thus, the decision taken is to reject H0 and accept Ha.
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References
Afni, D. A. N. (2024). Pengaruh Kepemilikan Manajerial, Free Cash Flow, Collateralizable Asset, Profitabilitas, Likuiditas Terhadap Kebijakan Dividen. Jurnal Ilmu dan Riset Akuntansi, 13, 1–20.
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Antari, N. K. N. D., Endiana, I. D. M., & Pramesti, I. G. A. A. (2022). Pengaruh Kebijakan Deviden, Likuiditas, Profitabilitas Dan Ukuran Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2020. Jurnal Kharisma, 4(2), 92–102.
Ningrum, E. P. (2022). Nilai Perusahaan (Konsep dan Aplikasi). In Angewandte Chemie International Edition, 6(11), 951–952. (Vol. 3, Nomor 1).
Siregar, S. (2010). Statistik Deskriptif Untuk Penelitan. Raja Grafindo Persada.
Afni, D. A. N. (2024). Pengaruh Kepemilikan Manajerial, Free Cash Flow, Collateralizable Asset, Profitabilitas, Likuiditas Terhadap Kebijakan Dividen. Jurnal Ilmu dan Riset Akuntansi, 13, 1–20.
Ansofino, dkk. (2016a). Buku Ajar Ekonometrika. Deepublish.
Ansofino, dkk. (2016b). Ekonometrika (1 ed.). Deepublish.
Antari, N. K. N. D., Endiana, I. D. M., & Pramesti, I. G. A. A. (2022). Pengaruh Kebijakan Deviden, Likuiditas, Profitabilitas Dan Ukuran Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2020. Jurnal Kharisma, 4(2), 92–102.
Ningrum, E. P. (2022). Nilai Perusahaan (Konsep dan Aplikasi). In Angewandte Chemie International Edition, 6(11), 951–952. (Vol. 3, Nomor 1).
Siregar, S. (2010). Statistik Deskriptif Untuk Penelitan. Raja Grafindo Persada.
(Afni, 2024)Afni, D. A. N. (2024). Pengaruh Kepemilikan Manajerial, Free Cash Flow, Collateralizable Asset, Profitabilitas, Likuiditas Terhadap Kebijakan Dividen. Jurnal Ilmu dan Riset Akuntansi, 13, 1–20.
Ansofino, dkk. (2016a). Buku Ajar Ekonometrika. Deepublish.
Ansofino, dkk. (2016b). Ekonometrika (1 ed.). Deepublish.
Antari, N. K. N. D., Endiana, I. D. M., & Pramesti, I. G. A. A. (2022). Pengaruh Kebijakan Deviden, Likuiditas, Profitabilitas Dan Ukuran Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2020. Jurnal Kharisma, 4(2), 92–102.
Ningrum, E. P. (2022). Nilai Perusahaan (Konsep dan Aplikasi). In Angewandte Chemie International Edition, 6(11), 951–952. (Vol. 3, Nomor 1).
Siregar, S. (2010). Statistik Deskriptif Untuk Penelitan. Raja Grafindo Persada.
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