The Effect of Total Asset Turnover, Debt to Equity Ratio, Asset Growth and Return on Assets on Dividend Payout Ratio and Price to Book Value in Soe Construction Services Sector Go Public

Abstract

This study aims to determine the effect of Total Asset Turnover, Debt to Equity Ratio, Asset Growth and Return on Assets on the Dividend Payout Ratio and Price to Book Value in SOEs in the Go Public Construction Services Sector for the 2012-2021 period. This type of research uses quantitative research methods and types of associative research. The research sample consisted of 4 BUMN companies in the construction services sector that went public. The method used was the saturated sample method, where all populations were sampled. The data analysis method used is path analysis. The results show that the relationship between Total Asset Turnover has a significant positive effect on the Dividend Payout Ratio and a significant positive effect on the Price To Book Value. The negative Debt to Equity Ratio is not significant to the Dividend Payout Ratio and the positive is not significant to the Price To Book Value. Negative Asset Growth is not significant to the Dividend Payout Ratio and positive is not significant to the Price To Book Value. Return on Assets is positively significant to the Dividend Payout Ratio and positively insignificant to the Price To Book Value. Negative Dividend Payout Ratio is not significant to Price To Book Value.