Pengaruh komposisi kepemilikan modal, kebijakan dividen dan pertumbuhan perusahaan Terhadap kebijakan hutang

Debt policy is one of the vital factors for a company, a manager has the authority to control the company debt in order to maintain operational activities of a company. Many companies which are considered as a major venture company, prefer to maintain their operational activities by having debt or external cost, in order to suppress the interest cost in the company tax calculation. This study aims to discover the impact of managerial ownership, institutional ownership, dividend policy, and company growth toward debt policy. The population of this study is manufacture companies throughout 2012-2016 which are registered in Indonesia Stock Exchange. The technique used in this study is by purposive sampling, which resulted in the 25 companies as the sample. The analysis technique used in this study is statistic test with multiple regression linier analysis method by using SPSS 23. The finding of this study shows that managerial ownership has an impact toward debt policy, while institutional ownership does not have any impact toward debt policy. This study also shows that the dividend policy affect the debt policy, however the company growth takes no effect in debt policy. Keyword(s) : Managerial Ownership, Institutional Ownership, Dividend Policy, Company Growth