PENGARUH ASET BERWUJUD, UKURAN PERUSAHAAN, PERTUMBUHAN PERUSAHAAN, LAMA PERUSAHAAN DAN PROFITABILITAS TERHADAP KEBIJAKAN HUTANG PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE TAHUN 2010-2014
Abstract
Debt policy including funding policy the company sourced from eksternal. The determination of this debt policy with regard to capital structure as the debt is one of the compositions in the capital structure. This study aims to determine the effect of intangible assets, company size, growth, and profitability of the company's old debt policy.
The population in this study are all companies listed on the Indonesian Stock Exchange (BEI) during the period 2010-2014 in the amount of 150 companies. Samples taken in this study as many as 150 of observational data from 30 companies that meet the criteria for the research sample. The sampling technique used purposive sampling. Statistical analysis was conducted on the multiple linear regression and hypothesis testing.
Based on the results of data analysis can be concluded; There is a positive effect of tangible assets against debt policy because the larger the assets tangible, there is a positive influence on the size of the company against debt policy, there is positive growth of the company against debt policy, There is no influence of the old company to the policy of debt, there is a negative influence significantly the profitability of the debt policy.
Suggestions in this study is a manager who has a stake in the company tend to use funds derived from retained earnings and share capital so that they will distribute cash dividends to attract investors to buy shares of the company. For Investor, before buying shares of the company, investors will look at how the funding source companies are more inclined to use debt or equity. Additionally Investors need to consider the value of its financing structure by considering the positive and negative impacts.
Keywords: Intangible Assets, Company Size, Growth Company, Old Company, Profitability, Debt Policy
The population in this study are all companies listed on the Indonesian Stock Exchange (BEI) during the period 2010-2014 in the amount of 150 companies. Samples taken in this study as many as 150 of observational data from 30 companies that meet the criteria for the research sample. The sampling technique used purposive sampling. Statistical analysis was conducted on the multiple linear regression and hypothesis testing.
Based on the results of data analysis can be concluded; There is a positive effect of tangible assets against debt policy because the larger the assets tangible, there is a positive influence on the size of the company against debt policy, there is positive growth of the company against debt policy, There is no influence of the old company to the policy of debt, there is a negative influence significantly the profitability of the debt policy.
Suggestions in this study is a manager who has a stake in the company tend to use funds derived from retained earnings and share capital so that they will distribute cash dividends to attract investors to buy shares of the company. For Investor, before buying shares of the company, investors will look at how the funding source companies are more inclined to use debt or equity. Additionally Investors need to consider the value of its financing structure by considering the positive and negative impacts.
Keywords: Intangible Assets, Company Size, Growth Company, Old Company, Profitability, Debt Policy
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