ANALISIS DAMPAK STRUKTUR KEPEMILIKAN PADA KEBIJAKAN HUTANG DALAM MENGONTROL KONFLIK KEAGENAN

https://doi.org/10.22146/jieb.6515

Erni Masdupi(1*)

(1) Universitas Negeri Padang
(*) Corresponding Author

Abstract


This study examines the impact of ownership structure and some control variables on corporate debt policy (debt ratio) in an agency theory context. Control variables are dividend payment, firm size, asset structure, firm profitability and tax rate. This study is based on the previous study by Moh’d et al., (1998), which found that ownership structure of the firms’s equity (insider ownership, shareholder dispersion and institutional investor) is important in explaining corporate debt policy in a agency theory context.
This study is focused on all firm listed on Jakarta Stock Exchange, except financial and insurance firms from 1992 to 1996. The method of analysis is using pooling. The method of data collection is purposive sampling. There are 100 firms year observation.
The result of the study shows that insider ownership and institutional investor to be significant and negative determinant of the corporate debt policy (debt ratio). It also indicates that shareholder dispersion is insignificant determinant of debt ratio.
Keywords: Debt Ratio, Ownership Structure, Agency Theory, Insider Ownership, Shareholder Dispersion and Institutional Investor.





DOI: https://doi.org/10.22146/jieb.6515

Article Metrics

Abstract views : 5037

Refbacks

  • There are currently no refbacks.




Copyright (c)



Journal of Indonesian Economy and Business

Journal

Editorial Team
Focus and Scope
Peer Review Process
Publication Ethics
Screening for Plagiarism

Authors

Author Guidelines
Submission Guidelines
Online Submissions
Copyright Notice
Privacy Statement
Author Fees

Download

Author Pack
Submission Form & Manuscript Template

 

Reviewer

Reviewer Guidelines
Reviewer Acknowledgement

 

Reader

General Search
Achieves
Author index
Title index

 

 

The Journal of Indonesian Economy and Business (print ISSN 2085-8272; online ISSN 2338-5847) is published by the Faculty of Economics and Business Universitas Gadjah Mada, Indonesia. The content of this website is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License

© 2019 Journal of Indonesian Economy and Business 
 Visitor Statistics