PENGARUH KEPEMILIKAN MANAJERIAL, KEPEMILIKAN ASING DAN KEBIJAKAN DIVIDEN TERHADAP RETURN SAHAM PADA PERUSAHAAN MANUFAKTUR YANG LISTED DI BURSA EFEK INDONESIA

Abstract

The population used in this research is manufacturing companies listed in Indonesia Stock Exchange with a time period of 3 years of research observations in the year 2013-2015. The research sample is determined by the method of purposive sampling of 40 companies. By performing simultaneous hypothesis test (test f), partially (t test) and multiple linear regression analysis.
The results showed that the variables of managerial ownership, foreign ownership and dividend policy simultaneously positive and significant effect to return stock with a value of 17.822 koefisein and sig 0.008 <0.05. Partial test results indicate that managerial ownership variable and significant negative effect on stock returns with coefficient -0.318 and sig 0.013 <0.05. Foreign ownership variables proved to have no effect on stock returns with coefficient 0.679 and 0.080 sig> 0.05. Dividend policy variables proved to have no effect on stock returns with coefficient 0.098 and 0.840 sig>0.05. Hasi test koefisein R2 (R square)of 0.616, or 61.6%, this shows that the percentage contribution of variable managerial ownership, foreign ownership and dividend policy the dependent variable stock return of 0.616 or 61.6% while the remaining 38.4% is influenced by other variables outside of this study.