%A  ARIFIANA ARUM 0816051019
%J Digital library
%T IMPACT PROFITABILITY, FINANCIAL LEVERAGE AND DIVIDEND PAYOUT RATIO OF INCOME SMOOTHING


%X 

ABSTRACT


IMPACT PROFITABILITY, FINANCIAL LEVERAGE AND DIVIDEND PAYOUT RATIO OF INCOME SMOOTHING



By


ARIFIANA ARUM


This result aims  to  examine the influence of  profitability,  financial leverage, and dividend  payout  ratio to  earnings  smoothing practices.  Study sample totaled  five  manufacturing companieslisted on the Indonesia  Stock Exchange year  period  2003-2010. The factors tested were  profitability  (ROE), financial leverage (debt to equity ratio), and dividend payout ratio.  Eckel  index  used to determine which firms practice income smoothing or not.

 Eckel  results  indicate that as many as  index calculation  3 companies  that  make  the practice of  smoothing  earnings.  While the results of  regression  analysis of  panel data to get results, among others  (1)  with a simultaneous  test  proved all the variables together  influence the practice of  smoothing  earnings and (2) witheither a partial test of profitability, financial leverage, and dividend payout ratio significantly influence the practice smoothing  earnings.

Thus it can be concluded  from this study that the profitability,  financial leverage, and dividend  payout ratio affects the company's  practice  income  smoothing.

Key words : Profitabilitbility, financial leverage, dividend payout ratio, income smoothing.


%D 2012
%L eprints13020