PENGARUH KEPEMILIKAN MANAJERIAL DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN HUTANG PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA

Abstract

This study aims to determine and analyze the effect of managerial ownership and firm size to debt policy. The population in this study are 144 manufacturing companies in Indonesia Stock Exchange (IDX). Sampling technique using purposive sampling with the number of samples obtained by 11 manufacturing companies. This study uses secondary data and in the form of panel data (time series and cross section). Data analysis using panel data regression analysis with using model estimation of fixed effect model (FEM). The results of this study indicate that managerial ownership has a positive and significant effect to debt policy, the higher managerial ownership (MOWN) will improve debt policy. The firm size has a negative and insignificant effect to debt policy, the higher firm size (SIZE) will reduce the debt policy.

Keyword: Debt Policy, Managerial Ownership, Firm Size.