Dinamika Kebijakan Dividen Perbankan Indonesia 2014-2023: Peran Moderasi Inflasi dan Dorongan Kinerja Keuangan
DOI:
https://doi.org/10.35384/jemp.v11i2.842Keywords:
proitability, liquidity, asset growth, dividend policy, inflation rateAbstract
Penelitian ini mengkaji pengaruh profitabilitas, likuiditas, dan pertumbuhan aset terhadap kebijakan dividen. Selain itu, penelitian ini meneliti bagaimana tingkat inflasi berperan sebagai variabel pemoderasi dalam sektor perbankan Indonesia selama periode 2014 hingga 2023. Data dikumpulkan melalui laporan tahunan, publikasi Bursa Efek Indonesia (BEI), dan basis data keuangan. Pendekatan kuantitatif digunakan dengan mengumpulkan data panel dari delapan bank yang secara konsisten terdaftar di BEI. Hubungan langsung antara variabel independen (ROE, CAR, dan AG) terhadap Dividend Payout Ratio (DPR) serta hubungan masing-masing variabel tersebut dengan inflasi diuji melalui analisis menggunakan perangkat lunak EViews, yang memadukan data cross-section dan time-series. Hasil penelitian menunjukkan bahwa profitabilitas dan pertumbuhan aset tidak berpengaruh langsung terhadap DPR, namun likuiditas berpengaruh positif dan signifikan. Tidak ditemukan bukti bahwa inflasi memoderasi hubungan antara pertumbuhan aset dan likuiditas dengan DPR, tetapi inflasi memoderasi hubungan antara DPR dan profitabilitas. Temuan ini mengindikasikan bahwa inflasi berperan sebagai penyaring sinyal dan memberikan perlindungan kebijakan bagi manajer bank dalam menetapkan dividen dengan mempertimbangkan perubahan makroekonomi.
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