DETERMINAN KEBIJAKAN HUTANG (DALAM AGENCY THEORY DAN PECKING ORDER THEORY)
Abstract: The aims of this
study is to analyze the impact of the variables free cash flow, Profitability, Growth,
Tangibility, Retained Earning and Managerial Ownership on debt. Research usingpurposive
sampling method for taking samples. Data obtained on the basis of the
publication of Indonesian Capital Market Directory (ICMD), Samples of this
research is manufacturing firm which listed in Indonesian Stock Exchange during
2007-2011. This research obtained 135 samplesof manufacturing firms. Analysis
technique used is multiple regression analysis. Based on the teststatistic F
indicates that the model is fit because has a significance value less than 5%
of Alpha value. The Result of analisys show that the four independent variables
have significant influence to DER and other independence variables have no
significant influence to DER. Profitability has significant positive influence
toward debt, growth has significant negative influence toward debt,tangibility
has significant positive influence toward debt, retained earning has
significant negative influence toward debt, but free cash flow and managerial
ownership have no significant influence toward debt.
Penulis: Pancawati
Hardiningsih, Rachmawati Meita Oktaviani
Kode Jurnal: jpakuntansidd120541
