PENGARUH AGENCY COST , LEVERAGE, DAN GROWTH TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

The purpose of this study was to determine the effect of managerial ownership, institutional ownership, firm size, free cash flow, leverage, and growth of dividend policy on manufacturing company listed in indonesian stock exchange with the time period of 2009-2011. The number of samples collected of manufacturing companies from the Indonesian Stock Exchange 124 companies. Researchers using purposive sampling technique sampling and earn 14 companies as the study sample. This study uses multiple regression analysis. The results of this study using the t test that leverage significant positive effect on debt policy, while the managerial ownership, institutional ownership, firm size, free cash flow and growth but not significant effect on dividend policy. Results of studies simultaneously using the F test , showed that of managerial ownership, institutional ownership, firm size, free cash flow, leverage, and growth as independent variables have effect on dividend policy. Key Words : Dividend Policy, managerial ownership, institutional ownership, firm size, free cash flow, leverage, growt