PENGARUH PROFITABILITAS, KEBIJAKAN DIVIDEN DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN HUTANG PADA PERUSAHAAN MANUFAKTUR YANG LISTED DI BEI TAHUN 2012-2014

Abstract

The company's goals can be achieved through the implementation of financial
management functions with caution and appropriate considering any financial decisions
taken will affect other financial decisions that will affect the value of the company. The
funding decision will determine the company's ability to carry out its operating activities and
the effect on the risk for the company itself. Financing using debt is too high will increase the
company's financial risk and ultimately into the financial crisis (financial distress).
This study researcher influence profitability, dividend policy and the size of the debt
structure of the company to a manufacturing company in 2012-2014. By using multiple linear
regression analysis technique. Samples obtained are 16 companies. Results of the analysis
showed that profitability and dividend policy have significant negative effect on the debt
policy, while the size of the company does not have a significant effect. The most influential
variable is profitability. Determination coefficient is 0.344, which means the debt policy
variables explained 34.4% by the variable profitability, dividend policy and the size of the
company while the rest influenced by other variables.
Keywords: debt policy, profitability, dividend policy, the size of the company