The Influence of Institutional Ownership, Asset Structure, and Company Size on Debt Policy (Empirical Study on Food and Beverages Sub-Sector Companies Listed on the Indonesia Stock Exchange)

Abstract

Debt policy is one part of the policy in determining funding for the company in financing every activity of operations. With the obligations within the company, it is expected to reduce the control exercised by managers on the company’s cash flow arrangements. The purpose of the research is to measure the implementation of institutional ownership, asset structure, and company size against debt policy on the food and beverages company was listed on the Indonesia stock exchange. The size that is used consists of institutional ownership percentage, comparison between fixed assets to total assets, natural logarithm of total assets and debt ratio. Analysis tools are used in the research using the SPSS program. Method of determination of samples is sensus sampling where there are 54 observation data. The analysis used in the SPSS program is descriptive analysis, normality test, multicollinearity test, heteroscedasticity test, autocorrelation test, multiple linear regression, correlation and determination test, f test, and t-test. As for the results of the research conducted is a regression model already are BLUE and have a specification of goodness fit model. Institutional ownership has no effect against debt policy, asset structure of influential positively against debt policy, and company size of influential negatively against debt policy