Pengaruh Profitabilitas Dan Kepemilikan Saham Terhadap Kebijakan Hutang Dengan Investment Opportunity Set Sebagai Variabel Moderasi Perusahaan Properti Dan Real Estate

Debt policy is a source of capital originating from outside the company. The factors that influence debt policy are profitability, managerial ownership and institutional ownership with the Investments Opportunity Set as a moderating variable. This study analyzed the effect of debt policy, profitability, managerial ownership and institutional ownership and investment opportunity set. The subject of this study consisted of property and real estate companies listed on the Indonesia Stock Exchange in the period 2013-2017 were selected by purposive sampling. The analysis method in this research used multiple linear regression and Moderated regression Analysis (MRA). The results of the regression analysis was profitability did’nt significant effect to debt policy, managerial ownership and institutional ownership significant effect to debt policy. The result of the moderated regression analysis (MRA) is that the Investment opportunity set is able to moderate the effect of profitability, managerial ownership and institutional ownership on debt policy. Keywords : Debt Policy, Profitability, Managerial Ownership, Institutional Ownership, Investment Opportunity Set (IOS)