PENGARUH KEPEMILIKAN MANAJERIAL, KEPEMILIKAN INSTITUSIONAL, KEBIJAKAN DEVIDEN, PERTUMBUHAN (GROWTH), UKURAN PERUSAHAAN, DAN STRUKTUR AKTIVA TERHADAP KEBIJAKAN HUTANG PERUSAHAAN YANG TERDAFTAR DI BEI
Abstract
Penelitian ini bertujuan untuk meneliti pengaruh Kepemilikan Manajerial, Kepemilikan Institusional, Kebijakan Deviden, Pertumbuhan, Ukuran Perusahaan, dan Struktur Aktiva terhadap Kebijakan Hutang.Sampel dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2010 – 2013. Sumber data dalam penelitian ini berasal dari Indonesian Capital Market Directory (ICMD). Sampel diperoleh sebanyak 15 Emiten. Metode analisis dalam penelitian ini menggunakan analisis regresi linier berganda.
Hasil penelitian menunjukkan bahwa Kepemilikan Institusional berpengaruh negatif signifikan terhadap Kebijakan Hutang. Kebijakan Deviden berpengaruh positif signifikan terhadap Kebijakan Hutang. Sedangkan Kepemilikan Manajerial, Pertumbuhan, dan Struktur Aktiva tidak berpengaruh signifikan terhadap Kebijakan Hutang. Ukuran Perusahaan berpengaruh signifikan terhadap Kebijakan Hutang tetapi menunjukkan arah hubungan negatif. Nilai koefisien determinasi dalam penelitian ini menunjukkan nilai 0,179. Hal ini berarti bahwa Kepemilikan Manajerial, Kepemilikan Institusional, Kebijakan Deviden, Pertumbuhan, Ukuran Perusahaan, dan Struktur Aktiva mempunyai peranan 17,9% terhadap Kebijakan Hutang.
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