Peran Profitability dalam Memoderasi Pengaruh Predictor Debt Policy

Jimmy Law; Akilah; Cindy Shane; Syafira Ulya Firza; Eni Duwita Sigalingging

doi:10.33395/owner.v8i3.2214

Authors

Jimmy Law Universitas Mikroskil
Akilah Universitas Mikroskil
Cindy Shane Universitas Mikroskil
Syafira Ulya Firza Universitas Mikroskil
Eni Duwita Sigalingging Universitas Mikroskil

DOI:

10.33395/owner.v8i3.2214

Keywords:

asset structure, business risk, company growth, company size, debt policy, free cash flow, profitability

Abstract

The research aims to examine and analyze the effect of business risk, company growth, company size, asset structure, and free cash flow on debt policy with profitability as a moderating variable. The population of this study consists of 191 mining companies for the period of 2020-2022 listed on Indonesia Stock Exchange (IDX). The sampling technique was purposive sampling and 106 company were used. This type of research was correlational method. Data analysis was performed using classical assumption, hypothesis testing, and moderating regression (MRA) using IBM SPSS 25 version. Partially, the result of the study indicate that company growth and company size had a significant positive effect on debt policy; free cash flow had a significant negative effect on debt policy; meanwhile, business risk and asset structure had no significant effect on debt policy. The result of the moderation test in this study indicate that profitabiliy can moderate the effect of company growth on debt policy. Meanwhile, profitability is unable to moderate the effect of business risk, company size, asset structure, and free cash flow on debt policy.

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