ANALISIS FREE CASH FLOW DAN PROFITABILITAS TERHADAP KEBIJAKAN HUTANG DENGAN INVESTMENT OPPORTUNITY SET

(Studi pada Perusahaan Manufaktur di BEI periode 2012 s/d 2016)

  • aditya Kurniawan Kanwil Kemenag DIY

Abstract

This study aims to analyze the Free Cash Flow and Profitability toward
debt policy with the Investments Opportunity Set as an Intervening variable
(Empirical Study on Manufacturing Companies listed on the Indonesia Stock
Exchange for the period 2012 to 2016). The population was 131 manufacturing companies trough the sampling technique used was purposive sampling and obtained a sample of 30 companies. The data analysis technique used is Descriptive and Partial Least Square (PLS) analysis. The results of this study indicate: Free cash flow does not affect the debt policy but Profitability affects the debt policy of manufacturing companies listed on the Indonesia Stock Exchange for the period 2012-2016. Free cash flow has an effect but Profitability does not affect on the Investment Opportunity Set for manufacturing companies listed on the Indonesia Stock Exchange for the period 2012-2016. The Investment Opportunity Set does not affect the debt policy of manufacturing companies listed on the Indonesia Stock Exchange for the period 2012-2016.


 


Keywords: Free Cash Flow, Return On Investment, Investment Opportunity Set and
Debt to Equity Ratio.

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Published
2019-11-06
How to Cite
KURNIAWAN, aditya. ANALISIS FREE CASH FLOW DAN PROFITABILITAS TERHADAP KEBIJAKAN HUTANG DENGAN INVESTMENT OPPORTUNITY SET. UPAJIWA : Jurnal Ekonomi, Bisnis dan Manajemen Daulat Rakyat, [S.l.], v. 3, n. 2, p. 133-148, nov. 2019. ISSN 2579-535X. Available at: <http://jurnalfe.ustjogja.ac.id/index.php/magistermanajemen/article/view/1258>. Date accessed: 06 dec. 2019.