PENGARUH PRICE EARNING RATIO DAN TOTAL ASSET GROWTH TERHADAP RETURN SAHAM DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING (Studi Kasus Pada Indeks LQ45 Yang Terdaftar Di Bursa Efek Indonesia Tahun 2021 - 2023)

Abstract

The main goal of investors in investing their funds into a company is to seek income or a rate of return on investment (return) either in the form of dividend income (dividend yield) as well as income from the difference between the selling price of shares and the buying price (capital gain). Factors related to the movement of buying and selling shares include: price earning ratio, total asset growth, return shares and dividend payout ratio. This research aims to determine the effect price earning ratio And tatal asset growth to dividend payout ratio, influence price earning ratio, tatal asset growth And dividend payout ratio to return shares, join influence price earning ratio And tatal asset growth through dividend payout ratio to return shares.

This research was conducted only on LQ45 companies. The sample taken was 105 respondents using the method purposive sampling. Data collection techniques use field research and library research. The analytical tool in this research uses analysis path analysis.

The research results show that 1) Price Earning Ratio insignificant effect on dividend payout ratio on LQ45 on the IDX in 2021-2023. 2) Total Asset Growth insignificant effect on dividend payout ratio on LQ45 on the IDX in 2021-2023. 3) Price Earning Ratio significant effect on return stock on LQ45 on the IDX in 2021 – 2023. 4) Total Asset Growth significant effect on return stock on LQ45 on the IDX in 2021 – 2023. 5) Dividend payout ratio insignificant effect on return stock on LQ45 on the IDX in 2021 – 2023. 6) Price Earning Ratio through dividend payout ratio insignificant effect on Return stock on LQ45 on the IDX in 2021 – 2023. 7) Total Asset Growth through dividend payout ratio insignificant effect on Return stock on LQ45 on the IDX in 2021 – 2023.