Pengaruh Kebijakan Deviden dan Pertumbuhan Pendapatan terhadap Petumbuhan Laba pada Perusahaan Manufaktur

Abstract

This study aimed to analyze the effect of dividend policy and revenues growth to earnings growth. Data were obtained from the financial statements of 33 manufacturing companies listed in Indonesia Stock Exchange in the period of 2011 to 2015. Dividend policy measured by dividend payout ratio and dividend yield. Panel data analysis was used to analyze the influence of the independent variables to the dependent variable. The best regression panel data model in this study is a random effect model. The study found that partially dividend payout ratio and dividend yield have no significant effect on earnings growth. However, revenues growth statistically has significant effect on firm’s earnings growth. The study also found that simultaneously dividend payout ratio, dividend yield and revenues growth have significant effect on firm’s earnings growth.