Struktur Kepemilikan Dan  Kebijakan Hutang : Pendekatan Teori Agency

Indana Afiah; Lia  Uzliawati; Munawar  Muchlish

doi:10.33395/owner.v7i4.1647

Authors

Indana Afiah Universitas Sultan Ageng Tirtayasa
Lia Uzliawati
✉ Corresponding author: uzliawati@untirta.ac.id Universitas Sultan Ageng Tirtayasa
Munawar Muchlish Universitas Sultan Ageng Tirtayasa

DOI:

https://doi.org/10.33395/owner.v7i4.1647

Keywords:

Managerial ownership, institutional ownership, debt policy, property and real estate

Abstract

Debt policy is a policy taken by the management to obtain external sources of funding for the company's operations. The ownership structure in this study is proxied by managerial ownership and institutional ownership. This study aims to determine the effect of managerial ownership and institutional ownership on debt policy. This research was conducted on property and real estate companies listed on the Indonesia Stock Exchange in 2017-2021. The number of samples used is 79 companies with purposive sampling technique. The analysis technique used is multiple linear regression. The results showed that Managerial Ownership did not have a significant effect on debt policy, while institutional ownership had a significant positive effect on debt policy.

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