PENGARUH INVESMENT OPPORTUNITY SET (IOS),LABA BERSIH DAN ARUS KAS OPERASI TERHADAP DIVIDEND PAYOUT RATIO PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This study aim to examine the effect of Investment Opportunity Set (IOS), Net Income and
Operating Cash Flow simultaneously, partial and dominant to Dividend Policy proxied by the
Dividend Payout Ratio (DPR) on manufacturing companies listed in Indonesia Stock
Exchange. Based on the analysis of data with the results of simultaneous test (Test F),
Investment Opportunity Set, Net Income and Operating Cash Flow influence on the policy.
The result of partial test (t test), Investment Opportunity Set a positive but not significant
effect on dividend policy. Variable Net Income positive but not significant effect on dividend
policy. Variable Operating Cash Flow positive and significant effect on dividend policy.
Stepwise test results showed that the only variable operating cash flow is the most dominant
influence on dividend policy