Kinerja Bank Dan Harga Saham

Abstract

The existence of a manager in the company is important for decision-making in particular funding decision. Managers must examine the nature, cost and source of funds that will be used. Financing policy in a company should aim to maximize prosperity. However, the fact shows that generalty, the level of debt in the manufacturing sector is increasing every year. It is not offset by the growth in the profitability of the company. This study was conducted to determine the effect of the company’s growth, profitability, and dividends on the corporate debt policy either simultaneously or partially. Population of this research were manufacturing companies listed on the Stock Exchange (Stock Exchange Indonesia) from 2011 to 2014. This study used panel data analysis techniques mixed with eviews. This study was descriptive. The type of data used were secondary data namely financial report of the sample companies. The results showed that simultaneously the company’s growth, profitability, and dividends influenced corporate debt policy. While partially, the variables of company’s growth had negative influence on debt policy variable, the variable of profitability had negative effect on debt policy, and dividends variable had positive effect on the company's debt policy.