PENGUJIAN PENGARUH CAPITAL STUCTURE PADA DEBT POLICY (Studi Empiris pada Perusahaan Manufaktur di Indonesia)
Wuryaningsih D.L(1*)(1) Prodi Manajemen dan Bisnis FEB UMS
(*) Corresponding Author
Abstract
This research aim to test the impact of capital structure to company debt policy. The capital
structure consisted by insider ownership, institutional investor, and shareholder dispersion. This research
use sample of all manufacturing business which enlisted in Jakarta Stock Exchange during year of
l999 - 2002. result of partial test indicated that shareholder dispersion variable have a significant effect
to company debt policy. Examination by simultaneously indicate that all component of capital structure
have a significant effect on negativity to company debt policy. Equally, all variables mirroring expense of
agent serve to purpose of instrument of determinant of debt policy to minimize agency cost.
Keywords
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