Pengaruh Ukuran Perusahaan, Profitabilitas, Likuiditas, dan Free Cash Flow Terhadap Kebijakan Hutang pada Perusahaan Manufaktur di Bursa Efek Indonesia (BEI)

Manufacturing companies are companies that carry out the business of managing raw materials into finished products that are sold to individual customers. The number of manufacturing companies listed on the Indonesia Stock Exchange encourages intense competition between manufacturing companies. In this fierce and fast global competition, companies need a lot of capital to grow and develop. The company must provide funds for the company's operational activities. The purpose of this study was to determine the effect of firm size, profitability, liquidity and free cash flow on debt policy in manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2020. This study used a sample of manufacturing companies listed on the Indonesia Stock Exchange in 2016 to 2020, using descriptive statistical analysis techniques, classical assumption tests, multiple linear regression tests and hypothesis testing. The results of this study indicate that the firm size variable has no effect on debt policy, the profitability variable has no effect on debt policy, the liquidity variable has no effect on debt policy and the free cash flow variable proves that it has no effect on debt policy