PENGARUH INSTITUTIONAL OWNERSHIP, INVESMENT OPPORTUNITY SET (IOS), FIRM SIZE, CASH FROM OPERATION DAN PROFITABILITY TERHADAP KEBIJAKAN HUTANG PERUSAHAAN (STUDI EMPIRIS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI)

Satrio Prayudi, Albert (2010) PENGARUH INSTITUTIONAL OWNERSHIP, INVESMENT OPPORTUNITY SET (IOS), FIRM SIZE, CASH FROM OPERATION DAN PROFITABILITY TERHADAP KEBIJAKAN HUTANG PERUSAHAAN (STUDI EMPIRIS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI). Masters thesis, Universitas Sebelas Maret.

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    Abstract

    ABSTRAK Tujuan dari penelitian ini untuk mengetahui pengaruh institutional ownership, investment opportunity set (IOS), firm size, cash from operation dan profitability terhadap kebijakan utang perusahaan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI). Untuk tujuan tersebut, penelitian ini menggunakan sampel akhir yang diperoleh 388 perusahaan manufaktur pada tahun 2005-2007 kecuali dari sektor perbankan dan asuransi yang diambil dengan cara purposive sampling. Analisis data dilakukan dengan menggunakan alat uji regresi berganda (multiple regression) yang terlebih dahulu dilakukan uji normalitas data dan asumsi klasik yang terdiri dari autokorelasi, multikolinear dan heteroskedaktisitas. Dalam pengujian data, penelitian ini menggunakan bantuan software computer untuk statistik yaitu SPSS versi 16.00. Hasil analisis data penelitian menunjukkan bahwa institutional ownership dan investment opportunity set tidak mempengaruhi perusahaan dalam menetapkan kebijakan hutang. Sementara itu, firm size, cash from operation, dan profirability berpengaruh terhadap penetapan kebijakan hutang perusahaan. Hasil analisis koefisien regresi simultan menunjukkan bahwa variabel-variabel yang dipakai dalam penelitian yaitu institutional ownership (INS), investment opportunity set (IOS), firm size (SIZE), cash from operation (CFO), dan profitability (ROA) merupakan faktor-faktor yang dipertimbangkan dalam mengambil kebijakan hutang perusahaan. Kata kunci: kebijakan hutang, institutional ownership, investment opportunity set, firm size, cash from operation, profitability. ABSTRACT This study aims to analyze the effect of institutional ownership, investment opportunity set (IOS), firm size, cash from operation and profitability on debt policy at manufacture company which are listed in Indonesian Stock Exchange. This study examines a sample of 388 manufacture company except banking and asurance sector and listed in Indonesian Stock Exchange in 2005 until 2007, which is using purposive sampling for determining the sample. To examine the data, multiple regression is used, but before that, we done the test of data normality, and classical assumption, which are autocorelation, multicolinear and heteroskedaktisitas. We used computer software SPSS version 16.00 to examine the data. The results of this study shows that institutional ownership, and investment opportunity set does not have influence on debt policy. Meanwhile, it shows that firm size, cash from operation, and profitabilty has significant effect on debt policy. The analyze of simultaneous regression shows that all of the variable which used in this study are institutional ownership (INS), investment opportunity set (IOS), firm size (SIZE), cash from operation (CFO), and profitability (ROA), are included in consederation factors to make a debt policy. Keywords: debt policy, institutional ownership, investment opportunity set, firm size, cash from operation, profitability. Data Availability: idx.co.id; ICMD; IDX Statistics 2005; IDX Statistics 2006; IDX Statistics 2007

    Item Type: Thesis (Masters)
    Uncontrolled Keywords: debt policy, institutional ownership, investment opportunity set, firm size, cash from operation, profitability. Data Availability: idx.co.id; ICMD; IDX Statistics 2005; IDX Statistics 2006; IDX Statistics 2007 kebijakan hutang, institutional ownership, investment opportunity set, firm size, cash from operation, profitability.
    Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
    Divisions: Fakultas Ekonomi > Akuntansi
    Depositing User: Fairly Okta'mal
    Date Deposited: 12 Jul 2013 22:14
    Last Modified: 12 Jul 2013 22:14
    URI: https://eprints.uns.ac.id/id/eprint/2771

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