Pengaruh Free Cash Flow, Firm Size, Kepemilikan Institusional, Kepemilikan Manajerial, Profitabilitas, dan Struktur Aset Terhadap Kebijakan Hutang pada Perusahaan Manufaktur

THE EFFECT OF FREE CASH FLOW,FIRM SIZE, INSTITUTIONAL OWNERSHIP, MANAGERIAL OWNERSHIP, PROFITABILITY AND ASSET STRUCTURE ON DEBT POLICY MANUFACTURING COMPANIES Desi Nur Amiliyah STIE Perbanas Surabaya 2015310042@students.perbanas.ac.id ABSTRACT Debt policy is an act of company management in funding the company's operations by using capital that comes from debt. Debt policy is also one of the determinants of the consideration of the capital structure, because the company's capital structure is a consideration of the amount of short-term debt, long-term debt, preferred shares, and also ordinary shares. This research aims to analyze the effect of free cash flow, firm size, institutional ownership, managerial ownership, profitability, and asset structure on the debt policy in manufacturing companies listed on the Indonesia Stock Exchange (IDX). The data used in this study is secondary data obtained from the company's financial statements published by the Indonesia Stock Exchange through its official website www.idx.co.id. The research sample was taken by purposive sampling. The tests carried out in this study used descriptive statistical analysis, classic assumption tests, multiple linear regression analysis and hypothesis testing. The results of hypothesis testing indicate that free cash flow, firm size, institutional ownership, and managerial ownership affect the debt policy, while profitability and asset structure do not affect the debt policy. Keywords : free cash flow, firm size, Institutional ownership, Managerial Ownership, Profitability, Asset Structure, Debt Policy