PENGARUH UKURAN PERUSAHAAN, PROFITABILITAS, STRUKTUR ASET, DAN FREE CASH FLOW TERHADAP KEBIJAKAN HUTANG (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 20122016)

The aim of this study is to determine the effect of Firm Size, Profitability, Structure of Asset, and Free Cash Flow to the Debt Policy on Manufactur Sectors Listed by Indonesia Stock Exchange (IDX) Period 2012 - 2016. Independent Variable of these study are Firm Size, Profitability, Structure of Asset, and Free Cash Flow. While dependent variable is Debt Policy (DER). The data used in this study is annual report of manufactur sectors that published by IDX during 2012 – 2016. The sampling method of this study is purposive sampling technique. The research model in this study employs panel data analysis with Random Effect Model approach. The empirical result shows that Firm Size and Structure of Asset do not have significantly influences to the Debt Policy. Profitability have negative significant influence to Debt Policy. While Free Cash Flow have positive significant influences to Debt Policy. The emprical result shows that profitability have negative significant influence to debt policy supporting the pecking order theory