Daftar Isi:
  • This study aims to determine the effect of profitability, leverage and investment opportunity set against cash dividend with liquidity as a moderation variable. This research was conducted at a manufacturing company listed on Indonesia Stock Exchange during 2012-2016. The number of samples used in this study were 37 companies with purposive sampling method. The data analysis technique used is moderation regression analysis. The results of this study indicate that the variables of profitability, leverage and investment opportunity sets affect cash dividends. Liquidity affects the relationship between profitability and leverage to cash dividends while liquidity does not affect the relationship between investment opportunity sets against cash dividends. Keywords: Cash Dividend, Profitability, Leverage, Investment Opportunity Set, Liquidity