DAFTAR ISI
LEMBAR PENGESAHAN SKRIPSI PERNYATAAN ABSTRAK .......................................................................................................
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ABSTRACT .......................................................................................................
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KATA PENGANTAR .....................................................................................
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DAFTAR ISI ....................................................................................................
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DAFTAR TABEL ............................................................................................
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DAFTAR GAMBAR ....................................................................................... xiii DAFTAR LAMPIRAN ................................................................................... xiv
BAB I
PENDAHULUAN 1.1 Latar Belakang Penelitian ........................................................
1
1.2 Identifikasi Masalah Penelitian ................................................ 12 1.3 Tujuan Penelitian ..................................................................... 13 1.4 Kegunaan Penelitian ................................................................ 13
BAB II KAJIAN PUSTAKA, KERANGKA PEMIKIRAN DAN HIPOTESIS 2.1 Kajian Pustaka ......................................................................... 15 2.1.1 Laporan Keuangan........................................................... 15 2.1.1.1 Pengertian Laporan Keuangan ............................ 15 2.1.1.2 Tujuan Laporan Keuangan .................................. 16 2.1.1.3 Karakteristik Laporan Keuangan ........................ 17
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2.1.1.4 Jenis dan Bentuk Laporan Keuangan .................. 20 2.1.1.5 Keterbatasan Laporan Keuangan ........................ 28 2.1.1.6 Pemakai Laporan Keuangan................................ 29 2.1.2 Kebijakan Dividen ........................................................... 30 2.1.2.1 Dividen ................................................................ 30 2.1.2.2 Pengertian Dividen .............................................. 31 2.1.2.3 Jenis-Jenis Dividen.............................................. 32 2.1.2.4 Prosedur Pembayaran Dividen ............................ 34 2.1.2.5 Pengertian Kebijakan Dividen ............................ 35 2.1.2.6 Teori Kebijakan Dividen ..................................... 36 2.1.2.7 Jenis-jenis Kebijakan Pembayaran Dividen ........ 39 2.1.2.8 Kebijakan Pemberian Dividen ............................ 41 2.1.2.9 Faktor-Faktor
Yang
Mempengaruhi
Kebijakan Dividen .............................................. 42 2.1.2.10 Kebijakan Dividen Tunai (Cash Dividend)....... 47 2.1.2.11 Dividend Payout Ratio (DPR) ........................... 49 2.1.3 Profitability...................................................................... 51 2.1.3.1 Pengertian Profitability (Profitabilitas) ............... 51 2.1.3.2 Rasio Profitability (Profitabilitas) ....................... 52 2.1.3.3 Jenis-jenis
Rasio
Profitability
(Profitabilitas) ..................................................... 55 2.1.4 Investment Opportunity Set (IOS) ................................... 60 2.1.4.1 Pengertian Investasi ............................................. 60
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2.1.4.2 Tujuan Investasi................................................... 61 2.1.4.3 Jenis Investasi ...................................................... 62 2.1.4.4 Pengertian Investment Opportunity Set (IOS) ................................................................... 62 2.1.4.5 Jenis-jenis Proksi Investment Opportunity Set (IOS) ............................................................. 63 2.1.4.6 Proksi yang digunakan untuk Mengukur Investment Opportunity Set (IOS) ...................... 64 2.2 Kerangka Pemikiran ................................................................... 66 2.2.1 Hubungan Kebijakan Dividen dengan Investment Opportunity Set ................................................................. 77 2.2.2 Hubungan Profitabilitas Dividen dengan Investment Opportunity Set ................................................................. 80 2.3 Hipotesis Penelitian .................................................................... 81
BAB III
METODE PENELITIAN 3.1 Metode Penelitian Yang Digunakan .......................................... 82 3.1.1 Objek Penelitian ................................................................ 82 3.1.2 Unit Penelitian .................................................................. 82 3.2 Definisi Variabel dan Pengukurannya ...................................... 83 3.2.1 Variabel Independen ........................................................ 83 3.2.2 Variabel Dependen ............................................................ 85 3.3 Operasionalisasi Variabel........................................................... 85 3.4 Populasi dan Sampel .................................................................. 86 viii
3.4.1 Populasi Penelitian ........................................................... 86 3.4.2 Sampel Penelitian .............................................................. 88 3.4.3 Teknik Sampling ............................................................... 89 3.5 Jenis Data Penelitian Dan Teknik Pengumpulan Data ............... 90 3.5.1 Jenis Data .......................................................................... 90 3.5.2 Teknik Pengumpulan Data ............................................... 91 3.6 Metode Analisis Data dan Uji Hipotesis .................................... 91 3.6.1 Analisis Deskriptif ........................................................... 91 3.6.2 Analisis Asosiatif .............................................................. 95 3.7 Penetapan Tingkat Signifikan .................................................... 103 3.8 Penarikan Kesimpulan ............................................................... 103 3.9 Model Penelitian ....................................................................... 104
BAB IV
HASIL PENELITIAN DAN PEMBAHASAN 4.1 Hasil Penelitian ......................................................................... 105 4.1.1 Gambaran Umum Perusahaan .......................................... 106 4.1.2 Kebijakan Dividen ............................................................ 111 4.1.3 Profitability ....................................................................... 112 4.1.4 Investment Opportunity Set ............................................... 113 4.2 Pembahasan ............................................................................... 114 4.2.1 Analisis Deskriptif ............................................................ 114 4.2.2 Analisis Asosiatif............................................................... 116 4.2.2.1 Pengujian Asumsi Klasik ...................................... 116 4.2.2.2 Uji Hipotesis ..................................................... 123 ix
4.2.2.3 Uji Regresi Linier Sederhana .................................... 126 4.2.2.4 Uji Korelasi ........................................................... 128 4.2.2.5 Uji Determinasi ..................................................... 129
BAB V
KESIMPULAN DAN SARAN 5.1 Kesimpulan ............................................................................... 132 5.2 Saran .......................................................................................... 133
DAFTAR PUSTAKA LAMPIRAN-LAMPIRAN DAFTAR RIWAYAT HIDUP
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DAFTAR TABEL
Tabel 1.1
Perkembangan Earning Per Share / Price ratio (EPS/P) Perusahaan Perbankan ...................................................................
Tabel 1.2
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Perkembangan Rasio Market to Book Value of Equity (MVE/BVE) Perusahaan Perbankan ..............................................
7
Tabel 3.1
Operasionalisasi Variabel ............................................................ 86
Tabel 3.2
Perusahaan yang Menjadi Sampel Penelitian ................................ 89
Tabel 3.3
Kriteria Dividend Payout Ratio (DPR) .......................................... 93
Tabel 3.4
Kriteria Return on Equity (ROE) ................................................... 94
Tabel 3.5
Kriteria Set Kesempatan Investasi (IOS) ....................................... 95
Tabel 3.6
Pengambilan Keputusan Ada Tidaknya Autokorelasi ................... 98
Tabel 3.7
Interpretasi Nilai Korelasi .............................................................. 102
Tabel 4.1
Data Dividend Payout Ratio Perusahaan Perbankan di Indonesia ........................................................................................ 111
Tabel 4.2
Data Return On Equity Perusahaan Perbankan di Indonesia ......... 112
Tabel 4.3
Data Investment Opportunity Set Perusahaan Perbankan di Indonesia ........................................................................................ 113
Tabel 4.4
Kriteria Dividend Payout Ratio Perusahaan Perbankan di Indonesia ........................................................................................ 114
Tabel 4.5
Kriteria Return On Equity Perusahaan Perbankan di Indonesia ........................................................................................ 115
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Tabel 4.6
Kriteria Investment Opportunity Set Perusahaan Perbankan di Indonesia .................................................................................... 116
Tabel 4.7
Hasil Uji Kolmogorov-Smirnov ..................................................... 120
Tabel 4.8
Hasil Uji Autokorelasi ................................................................... 122
Tabel 4.9
Hasil Uji Multikolinearitas............................................................ 123
Tabel 4.10 Hasil Uji Parsial (Uji t) Variabel DPR ........................................... 123 Tabel 4.11 Hasil Uji Parsial (Uji t) Variabel ROE .......................................... 124 Tabel 4.12 Model Regresi Linier Sederhana Variabel DPR ........................... 126 Tabel 4.13 Model Regresi Linier Sederhana Variabel ROE ........................... 127 Tabel 4.14 Hasil Uji Korelasi ......................................................................... 128 Tabel 4.15 Hasil Koefisien Determinasi DPR Model ...................................... 130 Tabel 4.16 Hasil Koefisien Determinasi ROE Model ..................................... 130
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DAFTAR GAMBAR
Gambar 3.1
Model Penelitian ....................................................................... 101
Gambar 4.1
Histogram Uji Normalitas .......................................................... 114
Gambar 4.2
Normal Probability Plot ............................................................. 115
Gambar 4.3
Uji Heteroskedastisitas................................................................ 117
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DAFTAR LAMPIRAN
Lampiran 1
Surat Tugas Bimbingan Skripsi
Lampiran 2
Kartu Perkembangan Bimbingan Skripsi
Lampiran 3
Laporan Keuangan Perusahaan Perbankan
Lampiran 4
Hasil Perhitungan SPSS
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