Analisis Pengaruh Free Cash Flow dan Kepemilikan Manajerial Terhadap Kebijakan Hutang pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia
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The Aims of this research is to study the impact of free cash flow and managerial ownership toward debt policy which represented by debt to equity ratio. The data that used in this research were secondary data which provided by Indonesian Capital Market Directory and Indonesian Stock Exchange’s website. Multiple regression techniques was used to analyse the data. Free cash flow and managerial ownership used as independent variables meanwhile debt to equity ratio used as dependent variable. Sample in this study were 20 manufacturing companies which listed on Indonesian Stock Exchange and selected from 152 population companies using purposive sampling method. The period of this research was began from 2008 through 2010. The results shows that independent variables such as free cash flow and managerial ownership simultaneously have a significant impact toward debt policy which represented by debt to equity ratio. Partially, managerial ownership have a negative and significant impact toward debt to equity ratio, but free cash flow didn’t have a significant impact toward debt to equity ratio.
- SP - Accountancy