PENGARUH UKURAN PERUSAHAAN, PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP KEBIJAKAN UTANG

Abstract

This research aimed to examine and analyze the effect of firm size, profitability, and dividend policy on the debt policy of Food and Beverage manufacturing companies listed on the Indonesia Stock Exchange (IDX). The firm size was measured by Natural Logaritma (LN) total assets, profitability was measured by Return On Assets (ROA), and dividend policy was measured by Dividend Payout Ratio (DPR). The research was quantitative. The population was manufacturing companies listed on the Indonesia Stock Exchange (IDX) of Food and Beverage manufacturing companies. Furthermore, the data collection technique used purposive sampling, in wich the sample was based on determined criteria. In line with that, there were 20 companies as the sample. Moreover, the data were taken for 4 years (2018-2021). In total, it obtained 80 observation data. Additionally, the data analysis technique used multiple linear regressions with SPSS (Statistical Product and Service Solution) 25 version. The result showed that firm size did not affect the debt policy od Food and Beverage manufacturing companies. On the other hand, profitability had a negative affect on the debt policy of Food and Beverage manufacturing companies. In contrast, the dividend policy did not affect the debt policy of Food and Beverage manufacturing companies.