PENGARUH STRUKTUR KEPEMILIKAN, GROWTH SALES, UKURAN PERUSAHAAN, STRUKTUR ASET, DAN PROFITABILITAS TERHADAP KEBIJAKAN HUTANG

Abstract

This research is aimed to examine whether managerial ownership, institutional ownership, growth sales, firm size, asset structure, and profitability give influence to the debt policy of manufacturing companies which are listed in Indonesia Stock Exchange (IDX). This research is a quantitative research type. The population in this research has been obtained by using purposive sampling method on manufacturing companies which are listed in Indonesia Stock Exchange (IDX) in 2012-2016 periods in which the samples have been selected based on the predetermined criteria 11 companies with five years observations have been obtained as samples so that the total samples is 55. The data analysis technique has been carried out by using multiple linear regressions analysis and 22nd version SPSS statistical test tool. Based on the result of this research, it indicates that managerial ownership, institutional ownership, growth sales, firm size and asset structure do not give any influence to the debt policy. Meanwhile, profitability give negative influence to the debt policy which means that companies with high profitability will tend to use more funding from internal or obtained profit when it is compared by using debt.
Keywords: Ownership structure, growth sales, asset, profitability, debt policy.