PENGUJIAN PENGARUH CAPITAL STRUCTURE PADA DEBT POLICY

Abstract

This research aim to test the impact cf capital structurcre to company debt policy The capital structure consisted by insider ownership, institutianal investor and sharehalder dispension This resach use sample of all manufacturing business whicb enlisted in Jakana Stacke Exchange during year of 1999-2002 result of partial test indicated that shareholder dispersion variable have a significant effect to company debt policy.Examination by simultaneously indicate tjat all component of capital structure have a significant effect on negativity to company debt policy. Equally, all variable mirroring expense of agent serve to pupose of instrument of determinant of debt policy to minimaize agency cost.