Pengujian Faktor-Faktor Yang Mempengaruhi Kebijakan Hutang

Abstract

This study aims to directly demonstrate how profitability, asset structure, institutional ownership, management ownership, and company size impact debt policy in property and real estate companies listed on the Indonesia Stock Exchange from 2020-2022. To understand the correlation between independent and dependent variables, this research employs a comparative causal method. The study utilizes secondary data in the form of financial statements from property and real estate companies listed on the IDX during the 2020-2022 period, employing the purposive sampling method. Twenty-three companies meet the criteria, resulting in a total sample size of 69 data points. The research findings indicate that profitability (ROA) has a negative and significant effect on debt policy, while the asset structure variable (FASDR) can negatively and significantly influence debt policy, and company size (SIZE) has a positive and significant impact on debt policy. Furthermore, the institutional ownership variable (INS) significantly affects debt policy with a positive direction, whereas the managerial ownership variable (MOWN) shows no effect on debt policy.