PENGARUH PROFITABILITAS, LIKUIDITAS, KEBIJAKAN DIVIDEN, GCG DAN STRUKTUR ASET TERHADAP KEBIJAKAN HUTANG

Abstract

This study aims to test the impact of profitability, liquidity, dividend policy, good corporate governance and assets structure toward, debt policy of property and real estate companies which are registered in Indonesia’s Stock Exchange in 2015-2019. The type o this study quantitative, the population of this study are all the property and real estate companies which are registered in Indonesia’s Stock Exchange in 2015-2019 and selected by applying the technique purposive sampling, so the study collects 7 companies which meet the criteria for the samples. The study applies the multiple linier regression for analyzing the data. The result of this study shows that return on asset does not impact significantly to the debt policy since the companies do not utilize external funds to cover the operational of the companies. The current ratio gives significant impact to the debt policy since the companies who have big debt will decrease the numbers of the shared dividends. The institutional ownership gives significant impact to the debt policy which to monitor the companies in deciding the debs finds. On the other hand, the assets structure gives significant impact to the debt policy since the companies utilize the assets for the operational activities so it will decrease the debt utilization.
Keywords: good corporate governance, debt policy