The Impact of Return on Assets Mediated by Sales Growth on Dividend Policy in Food and Beverage Companies in Indonesia
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Abstract
The purpose of this study is to examine the effect of the Return on Assets and Sales Growth variables and to test the mediating role of the Sales Growth variable in mediating the effect of Return on Assets on dividend policy in food and beverage companies in Indonesia. The research data consist of secondary data in the form of financial statements published by the Indonesia Stock Exchange for the 2020–2024 period, covering 14 companies with a total of 70 observations. The analytical model used is multiple linear regression to examine the direct effects and the Sobel Test to assess the mediating effect. The results indicate that the Return on Assets variable and the Sales Growth variable, both simultaneously and partially, have a significant effect on dividend policy in food and beverage companies in Indonesia. Furthermore, the Sales Growth variable is able to significantly mediate the effect of Return on Assets on dividend policy in food and beverage companies in Indonesia.
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References
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