STRUKTUR KEPEMILIKAN SAHAM TERHADAP KEBIJAKAN UTANG PERUSAHAAN DI BURSA EFEK INDONESIA
Luh Gede Sri Artini
Ni Nyoman Ayu Diantini
Prodi Manajemen Fakultas Ekonomi dan Bisnis Universitas Udayana
Jl. P.B. Sudirman, Denpasar, Bali, 80232, Indonesia.
Korespondensi dengan Penulis:
Luh Gede Sri Artini: Telp. +6281 558 030 970
E-mail: lg_artini @yahoo.com
This paper examined the effects of insider ownership, institutional investors and shareholders dispersion on debt ratio by pooled regression model. The research Population was all the firms in LQ 45 in Indonesia Stock Exchange (IDX) from 2009 until 2012, and sampling conducted in this research was purposive sampling method. Based on the criteria obtained by purposive sampling, 15 companies were eligible to be utilized as the research sample. The results of this research were that the impact of insider ownership was positive significant on debt ratio, the institutional investor had a significant positive impact on debt ratio, shareholder dispersion was not significantly effect on debt ratio.
Keywords: insider ownership, institutional investors, shareholders dispersion, debt ratio