Ownership Structure and Debt Policy: Evidence in Property and Real Estate Company

A. Tasman, Erni Masdupi, S. Safitri
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引用次数: 2

Abstract

In carrying out its operational activities, a company will greatly depend on its funding sources, namely internal funding, and external funding. Debt policy is one of the risky external funding sources. This study aims to see the relationship between insider ownership and institutional ownership with the debt policy of property and real estate companies listed on the Indonesia Stock Exchange in 2012-2015. The sample was chosen based on purposive sampling. To get results that can better explain the phenomenon, this study uses several control variables, namely dividend payment, firm size, asset structure, profitability, and tax rate. The data analysis technique used in this study is the partial correlation. The results of this study indicate that insider ownership and institutional ownership have no correlation with debt policy in property and real estate companies listed on the Indonesia Stock Exchange
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股权结构与债务政策:以房地产公司为例
公司在开展经营活动时,很大程度上取决于其资金来源,即内部资金和外部资金。债务政策是风险较大的外部资金来源之一。本研究旨在研究2012-2015年印尼证券交易所上市房地产公司的债务政策对内部人持股和机构持股的影响。样本的选择基于有目的的抽样。为了得到更好地解释这一现象的结果,本研究使用了几个控制变量,即股息支付、企业规模、资产结构、盈利能力和税率。本研究使用的数据分析技术是偏相关。研究结果表明,印尼证券交易所上市房地产公司的内部人持股和机构持股与债务政策没有相关性
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