KEPEMILIKAN INSTITUSIONAL, LIKUIDITAS, PERTUMBUHAN PERUSAHAAN TERHADAP KEBIJAKAN HUTANG (Studi Pada Perusahaan Food and Baverage yang Terdaftar di Bursa Efek Indonesia)

Abstract

This research aimed to examine the effect of institutional ownership, liquidity, and companies’ growth on
debts policy of Food and Beverages companies which were listed on Indonesia Stock Exchange (IDX)
during 2016-2020. While institutional ownership was referred to institutional ownership, liquidity was
referred to Current Ratio, and companies’ growth was referred to Growth. The research was causal-
comparative. Moreover, the data were secondary which in the form of financial statements. Furthermore,
the data collection technique used saturated sampling. Additionally, the population was 6 Food and
Beverages companies which were listed on Indonesia Stock Exchange (IDX) during 2016-2020. In
addition, the data analysis technique used multiple regression, classical assumption test, proper model
test, and hypothesis testing. The research result concluded that institutional ownership had a negative
and insignificant effect on debts policy. On the other hand, liquidity had a negative and significant effect
on debts policy. In contrast, companies’ growth had a positive but insignificant effect on debts policy.