scholarly journals Determinant of Debt Policy: Empirical Evidence from Indonesia

2017 ◽  
Vol 2 (1) ◽  
pp. 01-08
Author(s):  
Hansen Viriya ◽  
Rosita Suryaningsih
Keyword(s):  
Firm Growth ◽  
Dividend Policy ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Business Risk ◽  
Multiple Regression Method ◽  
Negative Effect ◽  
Debt Policy ◽  
Positive Effect

Objective - The objective of this study is to observe the effects of managerial ownership, institutional ownership, dividend policy, firm growth, business risk, liquidity, and profitability on debt policy. Methodology/Technique - Using the purposive sampling method, secondary data were retrieved from 16 firms that fulfil the criteria of this study. Analysis was made through the multiple regression method. Findings - The results of this research indicate that: (1) managerial ownership has a significantly negative effect on debt policy, (2) institutional ownership has no positive effect on debt policy, (3) dividend policy has no negative effect on debt policy, (4) firm growth has no positive effect on debt policy, (5) business risk has a significantly positive effect on debt policy, (6) liquidity policy has a significantly negative effect on debt policy, (7) profitability has no negative effect on debt policy, (8) managerial ownership, institutional ownership, dividend policy, firm growth, business risk, liquidity, and profitability, simultaneously, have a significant effect on debt policy. Novelty - This study implies that all the independent variables are related to debt policy, simultaneously. This shows that the regression model has an appropriatefit in estimating the accrual value of the model. Type of Paper: Empirical Keywords: Business Risk, Debt Policy, Dividend Policy, Liquidity and Profitability, Managerial and Institutional Ownership.

scholarly journals THE ANALYSIS OF FACTORS WHICH INFLUENCE THE MANAGERIAL AND INSTITUTIONAL OWNERSHIP ON BASIC INDUSTRY AND CHEMICAL SECTORS AT INDONESIA STOCK EXCHANGE 2010 - 2014

2015 ◽  
Vol 14 (1) ◽  
Author(s):  
Andrena Novita Santoso ◽  
Werner R. Murhadi ◽  
Endang Ernawati
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Significant Positive Effect ◽  
Significant Negative Effect ◽  
Policy Variable ◽  
Negative Effect ◽  
Debt Policy ◽  
Positive Effect

The purpose of this study is to determine the effect of the following corporation’s variables: value, size, debt policy, growth, liquidity, dividend policy on managerial and  institutional ownership in the base and chemical industry sector listed on the Indonesia stock exchange during 2010 through 2014. The findings showed that: (i) Corporation’s value and size variables have significant negative effect on managerial ownership; liquidity variable has significant positive effect on managerial ownership. On the other hand, debt policy, growth and dividend policy variables have non-significant negative effect on managerial ownership. (ii) Corporation’s value and size variables have significant positive effect on institutional ownership; debt policy variable has significant negative effect on institutional ownership, while growth, liquidity and dividend policy variables have non-significant positive effect on institutional ownership.

PENGARUH STRUKTUR ASET, LIKUIDITAS, PROFITABILITAS, KEBIJAKAN DIVIDEN, KEPEMILIKAN SAHAM INSTITUSIONAL DAN RISIKO BISNIS TERHADAP KEBIJAKAN UTANG (STUDI EMPIRIS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2015-2017)

2020 ◽  
Vol 12 (2) ◽  
pp. 231-253
Author(s):  
Benedicta Agustine Kusumi ◽  
Chermian Eforis
Keyword(s):  
Dividend Policy ◽  
Financial Statements ◽  
Net Income ◽  
Business Risk ◽  
Cash Dividend ◽  
Manufacture Sector ◽  
Multiple Regression Method ◽  
Negative Effect ◽  
Debt Policy ◽  
Positive Effect

The purpose of this research is to obtain the empirical evidence about the effect of the asset structure, liquidity measured by current ratio, profitabilty measured by return on asset, dividend policy measured by dividend payout ratio, institutional’s ownership and business risk toward debt policy. The sample in this research was selected using purposive sampling method and the secondary used in this research was analyzed using multiple regression method. The total amount of sample in this research were 30 firms which have been registered as manufacture sector in BEI simultaneously for the year 2015-2017, published financial statements as the end of 31 December and had been audited, used Rupiah as currency, had a positive net income, payment cash dividend, did not do corporate action, specifically:  share split, reverse split, right issue, and treasury share, had issues institutional’s ownership. The result of this research were (1) asset structure, liquidity, and institutional ownership  have significant negative effect towards debt policy, (2) profitability has significant positive effect towards debt policy, (3) dividend policy and business risk has no significant effect towards debt policy   Keywords: Asset Structure, Business Risk, Debt Policy, Dividend Policy, Institutional’s Ownership, Liquidity, Profitability

Analisis Faktor-Faktor yang Berpengaruh Terhadap Konservatisme Akuntansi

2021 ◽  
Vol 18 (1) ◽  
Author(s):  
Eko Hariyanto
Keyword(s):  
Firm Size ◽  
Stock Exchange ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Accounting Conservatism ◽  
Managerial Ownership ◽  
Ratio Data ◽  
Property Companies ◽  
Negative Effect ◽  
Positive Effect

This study aims to analyze whether the factors that affect accounting conservatism. Data is taken from secondary data on real estate and property companies that have sold their shares on the Indonesian Stock Exchange from 2016 to 2019, the number of selected samples is 23 companies. The variables used are profitability, firm size, institutional ownership and managerial ownership. All variables are measured by ratio data. Data analysis using multiple regression which is processed by the SPSS program.The results showed that profitability and managerial ownership had a positive effect on accounting conservatism. Firm size has a negative effect on accounting conservatism, while institutional ownership has no effect on accounting conservatism.

scholarly journals KEPEMILIKAN INSTITUSIONAL, KEPEMILIKAN MANAJERIAL, DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN

2019 ◽  
Vol 11 (1) ◽  
pp. 41-47
Author(s):  
Dewi Rahayu ◽  
Ellen Rusliati
Keyword(s):  
Firm Size ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Significant Positive Effect ◽  
Manufacturing Companies ◽  
Panel Data Regression ◽  
Negative Effect ◽  
Positive Effect

The aim of this study to determine the effect of institutional ownership, managerial ownership, firm size, to dividend policy simultaneously and partially. The population of this study are manufacturing companies in the consumer goods industry sector listed in Indonesia Stock Exchange of 2008-2017, the sample amounted 6 companies. The method used in this study are descriptive and verificative using panel data regression analysis. The results showed that the simultaneously institutional ownership, managerial ownership and firm size has significant effect on dividend policy with contribution of effect equal to 39.62%. The partially, institutional ownership has a significant positive effect on dividend policy, managerial ownership has a significant negative effect on dividend policy, firm size has a significant positive effect on dividend policy. The effect contribution dominant of independent variables is institutional ownership equal to 29.2%, managerial ownership equal to 10% and firm size equal to 0.4%.

scholarly journals OWNERSHIP STRUCTURE, FREE CASH FLOW, ASSET STRUCTURE AND DIVIDEND POLICY ON DEBT POLICY

2020 ◽  
Vol 9 (1) ◽  
pp. 28
Author(s):  
Nirina Tahir ◽  
Asrudin Hormati ◽  
Zainuddin Zainuddin
Keyword(s):  
Cash Flow ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Institutional Ownership ◽  
Free Cash Flow ◽  
Annual Reports ◽  
Managerial Ownership ◽  
Negative Effect ◽  
Debt Policy

This study is designed based on problems related to debt policy. The debt policy in every company has a direct effect on the financial position. The use of debt that which too high provides great risk, but if the companies are able to manage debt properly; then the use of debt shall increase profits for shareholders. The purpose of this study was to determine and analyze the effects of managerial ownership, institutional ownership, free cash flow, assets structure, and dividend policy on companies indexed LQ-45 wich listed on the Indonesia Stock Exchange. The sampling technique of this study is purposive sampling which produced 85 observations. This study uses secondary data in the form of annual reports. The tool of analysis of this study is multiple regression with support of statistical package for social scientists (SPSS) software. The results show that: (1) managerial ownership has no effect on debt policy; (2) institutional ownership has a negative effect on debt policy; (3) free cash flow has a negative effect on debt policy; (4) assets structure has a negative effect on debt policy and (5) dividend policy has no effect on debt policy.

scholarly journals PENGARUH KEPEMILIKAN MANAJERIAL, KEPEMILIKAN, INSTITUSIONAL, KEBIJAKAN DIVIDEN, STRUKTUR ASET, PROFITABILITAS, PERTUMBUHAN PERUSAHAAN, RISIKO BISNIS, DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN UTANG PADA PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

2019 ◽  
Vol 12 (1) ◽  
pp. 63
Author(s):  
Azalia Bonita ◽  
Hotman T Pohan
Keyword(s):  
Firm Size ◽  
Firm Growth ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Business Risk ◽  
Insider Ownership ◽  
Statistic Method ◽  
Debt Policy ◽  
Research Show

<p class="Style1"><em>The purpose of this research is to analyze the influence of insider ownership, </em><em>institutional ownership, dividend policy, asset structure, profitability, firm growth, </em><em>business risk and firm size to debt policy. Population in this research is non financial </em><em>companies listed in Indonesia Stock Exchange during the study period of years 2011- </em><em>2013. The samples of this research are 61 nonfinancial companies. The multiple </em><em>regression is statistic method which is used to test the research hypothesis. The results </em><em>of this research show that profitability and firm size have significantly influence the </em><em>debt policy. While insider ownership, institutional ownership, dividend policy, asset </em><em>structure, firm growth, and business risk have not influence the debt policy.</em></p>

scholarly journals FAKTOR – FAKTOR YANG MEMPENGARUHI KEBIJAKAN HUTANG PADA PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

2014 ◽  
Vol 1 (1) ◽  
pp. 29
Author(s):  
Apit Susanti ◽  
Sekar Mayangsari
Keyword(s):  
Firm Growth ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Sample Selection ◽  
Institutional Ownership ◽  
Business Risk ◽  
Insider Ownership ◽  
Independent Variable ◽  
Debt Policy ◽  
Financial Insurance

The purpose of this research is to examine the effect of insider ownership, institutional ownership, dividend policy, asset structure, profitability, firm growth, and business risk to debt policy. This research is developed based on the previous research carried out by Murni and Andriana (2007). Data were taken from all companies are listed at Indonesian Stock Exchange for three years (2009-2011) except financial, insurance, and other financial industries. Sample selection were based on purposive sampling. Only 45 companies meet the criteria and taken as sample. For this study SPSS 11.5 program is used to find out the effect from all independent variable above to dependent variable. The statistical used in this research was multiple regression. The research showed that institutional ownership, asset structure, profitability, and firm growth had effect to debt policy but insider ownership, dividend policy, and business risk had no effect to debt policy.

scholarly journals Pengaruh struktur kepemilikan terhadap kinerja perusahaan manufaktur yang terdaftar di bursa efek Indonesia

2020 ◽  
Vol 2 (4) ◽  
pp. 186
Author(s):  
Neneng Wahida ◽  
Rahmiati Rahmiati ◽  
Yolandafitri Zulvia
Keyword(s):  
Firm Performance ◽  
Ownership Structure ◽  
Stock Exchange ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Significant Positive Effect ◽  
Manufacturing Companies ◽  
Negative Effect ◽  
Positive Effect

The purpose of this study is to examine the effect of ownership structure on the firm performance of manufacturing companies listed on the Indonesia Stock Exchange (IDX).  This research is a causative study. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange for the period 2013-2018. This study uses secondary data published in the Indonesian Stock Exchange (IDX). Based on data collection, a sample of 75 companies from 144 listed manufacturing companies was obtained. The analytical method used is Multiple Regression using SPSS 24 data processing applications. The results of this study conclude (1) Family Ownership does not have a significant positive effect on firm performance (2) Managerial Ownership has a significant negative effect on firm performance (3) Institutional Ownership has a significant positive effect on firm performance (4) Foreign ownership does not have a significant positive effect on firm performance.  Keywords: Ownership structure, firm performance, Indonesia Stock Exchange.

scholarly journals Faktor Yang Mempengaruhi Kebijakan Dividen Dimediasi Kepemilikan Manajerial Yang Tercatat Di BEI

2020 ◽  
Vol 2 (1) ◽  
pp. 222
Author(s):  
Patricia Kurnikova Deli ◽  
Ignatius Roni Setyawan
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Policy Research ◽  
Secondary Data ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Price Earnings Ratio ◽  
Negative Effect ◽  
Debt Policy

The study was conducted with the aim of proving that debt policy and price earning ratio affect dividend policy with managerial ownership as a mediating variable. In the study using a population of all companies included in manufacturing companies listed on the Indonesia Stock Exchange, using purposive sampling the total used in the study was 33 companies with secondary data taken from https://www.idx.co.id/. The result in this research prove that debt policy has a negative effect on dividend policy, while the price earning ratio has a positive effect on dividend policy. Then the presence of managerial ownership has a negative effect on debt policy research and price earnings ratio against dividend policy.  Penelitian dilakukan dengan tujuan membuktikan bahwa kebijakan hutang dan price earning ratio berpengaruh kepada kebijakan dividen dengan kepemilikan manajerial sebagai variabel mediasi. Dalam penelitian menggunakan populasi seluruh perusahaan yang termasuk dalam perusahaan manufaktur yang tercatat di Bursa Efek Indonesia, dengan menggunakan purposive sampling maka total sampel yang digunakan dalam penelitian yaitu sebanyak 33 perusahaan dengan data sekunder yang diambil dari https://www.idx.co.id/ . Hasil dalam penelitian membuktikan bahwa kebijakan hutang berpengaruh negative terhadap kebijakan dividen, sedangkan price earning ratio berpengaruh positif terhadap kebijakan dividen. Kemudian dengan adanya kepemilikan manajerial berpengaruh negative dalam penelitian kebijakan hutang dan price earning ratio terhadap kebijakan dividen.

scholarly journals STRUKTUR KEPEMILIKAN, KEBIJAKAN HUTANG DAN NILAI PERUSAHAAN : KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERATING

2020 ◽  
Vol 1 (1) ◽  
pp. 68-88
Author(s):  
Eka Mira Rismayanti ◽  
Yusralaini ◽  
Devi Safitri
Keyword(s):  
Regression Analysis ◽  
Firm Value ◽  
Sampling Method ◽  
Dividend Policy ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Analysis Method ◽  
Negative Effect ◽  
The Relationship ◽  
Debt Policy

The purpose of this research were to analyze the effect of managerial ownership, institutional ownership and debt policy of the fims value with dividend policy as moderation. Population on this research is all companies listed in IDX 2015-2017. This research sample selected by using the purposive sampling method, there are 228 sample. The analysis method of this research is multiple regression analysis and moderated regression analysis while hypothesis tested by using SPSS 25. The result of this research shows that: managerial ownership has negative effect on firm value. Institutional ownership has an effect on firm value. Debt policy has no effect on firm value. Dividend policy is able to moderated the relationship between managerial ownership and firm value. Dividend policy is able to moderated the relationship between institutional ownership and firm value. Dividend policy is not able to moderated the relationship between debt policy and firm value.

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