The Effect of Financial Performance and Sales Growth on Dividend Policy with Firm Size as Moderating Variable in Automotive Sub-Sector Manufacturing Companies Listed on the IDX in 2016-2019

Abstract

This study aims to determine the effect of financial performance and sales growth on dividend policy with firm size as a moderating variable in automotive sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2016-2019. This research was conducted based on information obtained on the Indonesia Stock Exchange. This research uses the purposive sampling method. The population in this study is the automotive sub-sector manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2019, with a sample of 13 companies. The analysis technique used is by using software views. The results of this study indicate that Liquidity (CR) and Leverage (DER) have a significant effect on dividend policy while the variables Profitability (ROA), Leverage (DER), Activity (TATO), Growth, and Sales Growth have no significant effect on Dividend Policy in Automotive Sub-Sector Manufacturing Companies Listed on the IDX. The results of this study also show that Firm size can moderate Profitability (ROA), Leverage (DER), and Activity (TATO) on Dividend Policy. However, Firm size cannot moderate Liquidity (CR), Growth, and Sales Growth on Dividend Policy in the sub automotive sector listed on the Indonesia Stock Exchange. Keywords: Liquidity (CR), Profitability (ROA), Leverage (DER), Activity (TATO), Growth, Sales Growth, Dividend Policy (DPR), Firm Size.