PENGARUH SET PELUANG INVESTASI, PERTUMBUHAN PERUSAHAAN, STRUKTUR ASET, RETAINED EARNING, DAN KEPEMILIKAN INSTITUTIONAL TERHADAP KEBIJAKAN HUTANG

ABSTRACT Debt policy refers to the basic policy of the company regarding the amount of short term debt and long term debt as a form of alternative funding. Factors that influence the debt policy is investment opportunity set, growth company, assets structure, retained earning, and institutional ownership. This study analyzed the effect of investment opportunity set, growth company, assets structure, retained earning, and institutional ownership to debt policy. The subjects of this study consisted of Manufactured companies listed in Indonesia Stock Exchange in the period 2012-2014 were selected by purposive sampling. The analysis method in this research used multiple linear regression. The result of regression analysis was investment opportunity set didn’t significant positive effect to debt policy, growth company didn't significant negative effect to debt policy, asset structure significant positive effect to debt policy, retained earning significant negative effect to debt policy, and institutional ownership significant positive effect to debt policy. Keywords : debt policy, growth company, institutional ownership, investment opportunity set, retained earnin