The Influence of Liquidity and Profitability Toward the Growth at Stock Price Mediated by the Dividends Paid Out (Case in banks listed in Indonesia Stock Exchange)  

Oleh:

Sitorus, Tigor ; Elinarty, Susi

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Journal of Economics, Business, & Accountancy: ventura vol. 19 no. 3 (2017), page 377 – 392 .
Topik: Liquidity; Profitability; Stock Price; and Dividen
Fulltext: 582-2495-1-PB_Ros.pdf (404.28KB)

Isi artikel

This study aims to extend causal relationship between the liquidity and profitability and growth of stock price through out to fill a gap research by the dividends paid out as mediated variable. This study conducted at the banking sector listed in Indonesia stock exchange in the period of 2011 until 2014. This research uses the Structural Equation Modeling (SEM) and the result shows high goodness of fit while the simultaneous and individual tests generate significant result except the direct influence of liquidity toward growth of stock price. The results show that; (1) The liquidity has a negative influence towards the growth of stock price, (2) The liquidity has a significantly positive influence towards dividends paid out, (3). The profitability has significantly a positive influence towards the growth of stock price, (4). The profitability has a significantly positive influence to dividends paid out, (5). The dividends paid out also have a significantly positive influence towards growth of stock price. It can be concluded that the result evidently shows that the dividends paid out can mediate the influence of liquidity and profitability toward the growth of stock price, therefore the banks must pay the dividends in order the stock price can increase

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