PERAN DEBT TO EQUITY RATIO DALAM MEMEDIASI PENGARUH CURRENT RATIO DAN INSTITUTIONAL OWNERSHIP TERHADAP DIVIDEND PAYOUT RATIO PADA PERUSAHAAN MANUFAKTUR

Abstract

This study aims to examine the effect of current ratio variables and institutional ownership on dividend payout ratio and the role of debt to equity ratio in mediating these effects. Sampling uses purposive sampling. Data is taken from the Indonesian Capital Market Directory (ICMD). The feasibility test of the model is done using multicollinearity test, test the coefficient of determination and significance test. The analysis method uses path analysis and single test. The results of this study indicate that the current ratio has a significant negative effect on the debt to equity ratio, the debt to equity ratio has a significant negative effect on the dividend payout ratio and the debt to equity ratio is able to mediate the effect of the current ratio on the dividend payout ratio. Keywords: current ratio, institutional ownership, debt to equity ratio and dividend payout ratio