PENGARUH LEVERAGE DAN KEBIJAKAN DEVIDEN TERHADAP RISIKO SISTEMATIS PERUSAHAAN SEKTOR MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Chasanah, Nurul (2014) PENGARUH LEVERAGE DAN KEBIJAKAN DEVIDEN TERHADAP RISIKO SISTEMATIS PERUSAHAAN SEKTOR MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA. S1 thesis, Universitas Negeri Jakarta.

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Abstract

Nurul Chasanah. The Influence of Leverage and Dividend Policy toward Systematic Risk at Manufacturing Companies Listed in Indonesian Stock Exchange. Skripsi. Jakarta. Concentration Of Accounting Education, Department Of Economics And Administration, Faculty Of Economic, State University Of Jakarta, 2014. When investing in the stock market in particular stocks, investors are faced with a wide range of risks one is systematic risk. Systematic risks are the risks inherent in the Securities and cannot be eliminated by diversification. This risk is measured by the magnitude of the risk and this beta differs between one company and another company. This difference is caused by several factors and one of them was a fundamental factor. These factors include leverage, liquidity, asset growth, dividend policy, variability of profit, the size of the company, and beta accounting. The purpose of this research is to find out whether there is influence between leverage and dividend policy of the systematic risk of the company manufacturing sector registered in BEI. The methods used in this research is a survey method. The population in this research is the manufacturing companies listed on the Indonesia stock exchange totaling 136 companies. Affordable population is a manufacturing company distribute dividends in book years 2012 and return ≠ 0 which amounts to 46 companies. By using the table of Isaac and Michael obtained a sample of 40 companies. Sampling technique used was simple random sampling. Data for systematic risks of stock price and IHSG retrieved from www.yahoofinance.com, while the dividend policy leverage and data obtained from the financial reports by 2012. The study also used a classic assumption test and test hypotheses in order to know the influence of leverage (DER) and dividend policy (DPR) against systematic risk (Single Index Model). The results showed: (i) a partial leverage affect the systematic risk partially, (ii) partial, dividend policy does not affect the systematic risk, (iii) leverage and dividend policy simultaneously affect the systematic risk. Based on these results, it can be concluded that although the leverage have positively effect the systematic risk. While the dividend policy of no effect but have a negative relationship towards the systematic risks.

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