Pengaruh Kepemilikan Manajerial, Kepemilikan Institusional dan Kebijakan Dividen terhadap Kebijakan Hutang Perusahaan
Abstract:
the establishment of corporate governance is aimed to increase the wealth or
owner through financial management function because every financial decision
will influence other decision that impact their wealth firm’s value. To achieve
this aim, shareholders can delegate to management to improve shareholder value.
The consequences is shareholder must monitor and control firm’s performance
because manager tend to behave opportunist. The mechanism that can minimize
manager to act opportunistic are monitoring and bonding. On this research,
monitoring mechanism can be related the increasing ownership structure.
Research population is manufacture’s company listed in Indonesia Stock Exchange
(IDX) because its financial statement is already applied so that financial
problem can be easy to analysze. The sampling techniques used is purposive
sampling or judgment sampling based on research’s aim. Research variables are
managerial ownership, institusional ownership, dividend policies as independent
variables. Debt policies are implemented as dependet variabeles. The result
shows (1) managerial ownership has no significant affect to debt policies (2)
institusional ownership has a positive and significant influence to debt
policies (3) dividend policies has a negative and significant influence to debt
policies.
Keyword:
manajerial ownership, institutional ownership, dividend policy, debt policy
Penulis: Eva
Larasati (Fakultas Ekonomi Universitas Tadulako, Palu)
Kode Jurnal: jpmanajemendd110001
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