PENGARUH KEPEMILIKAN MANAJERIAL, KEPEMILIKAN INSTITUSIONAL, PROFITABILITAS, DAN PERTUMBUHAN PERUSAHAAN TERHADAP KEBIJAKAN HUTANG

Abstract

Debt policy is one of the funding policies within companies, which used to spend their operasional activities. While, there were some people who had their own needs namely, stakeholder, debtholder and management. Therefore, this research aimed to examine the effect of managerial ownership, institutional ownership, profitability, and firm growth on companies debt policy. Moreover, the population was Food and Beverages companies which were listed on Indonesia Stock Exchange (IDX). Furthermore, the data collection technique used purposive sampling in which the sampel was based on criteria given. Additionally, the data analysis technique used statistical analysis, i,e. multiple linear regression and hypothesis test. In addition, the research result concluded that managerial ownership had insignificant effect on debt policy. Likewise, either institutional ownership or firm growth had insignificant effect on debt policy. On the other hand, profitability had a negative and significant effect on debt policy of Food and Beverages companies which were listed on Indonesia Stock Exchange (IDX) during 2015-2019.
Keywords: debt policy, managerial ownership, institutional ownership, profitability, firm growth