PENGARUH PROFITABILITAS, KEBIJAKAN HUTANG DAN KEPEMILIKAN INSTITUSIONAL TERHADAP KEPEMILIKAN MANAJERIAL DAN PENGARUHNYA TERHADAP RISIKO
ABSTRACT: This research model
analyses managerial ownership from three determinants: profitability, debt
policy and institutional ownership. Then, the research model also analyses the
effect of managerial owner-ship on risk. Based on agency theory, the developing
of the model is used to reduce the potential conflict in company. Samples were
taken from 319 companies which listed at Indonesia Capital Market Directory
period 2001 until 2004. The results of research show that debt policy and
institutional ownership have negative effect to managerial owner-ship. While,
profitability has not effect to managerial ownership. Managerial ownership has
negative effect to risk. From the results can be concluded that the effect of
profitability on managerial ownership can not be used to control agency
conflict, meanwhile another hypo-thesis can be received to reduce agency
conflicts.
Keywords: Profitability, debt
policy, institutional ownership, managerial ownership, risk and agency theory
Penulis: KARTIKA NURINGSIH
Kode Jurnal: jpakuntansidd1000065
