Pengaruh Kinerja Keuangan Terhadap Dividen Payout Ratio dan Nilai Perusahaan

Abstract

of financial management functions. This research is a
quantitative research that aims to determine the effect of the financial performance of the
dividend payout ratio and company value. The population in this study are all manufactured
companies listed on the Stock Exchange. Research hypothesis testing technique used path
analysis with AMOS software tool. The results showed that there was no financial
performance that affect enterprise value. In different circumstances, the results showed that
the current ratio, debt equity ratio and total assets turn over effect on dividend payout ratio.
Besides, the results also showed that there was no significant relationship between dividend
payout ratio with the enterprise value as well. The result confirmed the theory of Modigliani
Miller that stated dividend irrelevant. The results also confirmed the theory of signal. The
financial performance of the current ratio, debt equity ratio and total assets turnover can
increase or decrease the value of the dividend payout ratio.

Keywords : Financial Performance , Dividend Payout Ratio and Value Companies