Abstract
This study examines and analyses the effect of Leverage, Liquidity, profitability, and growth on dividend policy with firm size as a moderating variable in consumer goods industrial manufacturing companies listed on the Indonesia Stock Exchange from 2015 to 2020. This study uses the purposive sampling method to use secondary data with the sample of 39 manufacturing companies in the consumer goods industry sector. The data analysis technique used moderation regression analysis using the SPSS 21 application program. The regression results from this study showed that leverage partially did not affect dividend policy. Meanwhile, Liquidity, Profitability, and Growth partially have a significant positive effect on dividend policy. Furthermore, Leverage, Liquidity, Profitability and Growth significantly affect companies' dividend policy in the consumer goods sector listed on the IDX in 2015-2020. Firm size can moderate leverage's negative influence on dividend policy. Firm size can also moderate the positive effect of Liquidity, Profitability, and Growth on the dividend policy of consumer goods sector companies listed on the IDX in 2015-2020. Keywords: Leverage, Liquidity, Profitability, Growth, dividend policy, Firm Size.
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