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Determinants of Debt Policy with Profitability as a Moderating Variable

Accounting Analysis Journal · Vol. 8 No. 3 (2020) · hlm. 184–190

DOI
10.15294/aaj.v8i3.35181
ISSN
2502-6216, 2252-6765
Terbit
2020-04-08
Penerbit
Universitas Negeri Semarang
Bahasa
eng

Abstrak

This study aims to examine the effect of sales growth, institutional ownership and company size on debt policy with profitability as a moderating variable. The research population was all of the property and real estate companies listed on the Indonesia Stock Exchange 2014-2017 as many as 61 companies. The sampling method used purposive sampling, so a sample of 34 companies was obtained with analysis units of 136. The data collection method used was the documentation method. The analysis technique of this research used multiple regression using the absolute difference test. The results show that sales growth and company size has a significant positive effect on debt policy. Institutional ownership has a significant negative effect on debt policy. Profitability significantly moderates the effect of sales growth and company size on debt policy. Profitability is not able to moderate institutional ownership on debt policy. The conclusion of this study is that all independent variables influence debt policy and profitability are able to moderate sales growth and company size but are not able to moderate institutional policy towards debt policy. Suggestions for further research can use other variables that are thought to influence debt policy.

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21 penulis · 26 tautan kepenulisan bersama · 2 lintas organisasi

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  • State University of Semarang
  • Diponegoro University
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Rekan penulisOrganisasiArtikel bersama
Insani Khikmawati KhikmawatiState University of Semarang1
Ibnu Reza AshkhabiAfiliasi tidak diketahui1
Febri Zaini AuliaAfiliasi tidak diketahui1
Eka SetiawatiAfiliasi tidak diketahui1
Sarwo KuncoroState University of Semarang1
Hendy Bayu SatriawanAfiliasi tidak diketahui1
Nur Annisa KhumairohState University of Semarang1
Tya RestiantiState University of Semarang1
Nia FerlianaState University of Semarang1
Chintiya Febiana RamadhaniState University of Semarang1
Indrianingsih IndrianingsihState University of Semarang1
Siti Nurmala SariState University of Semarang1
Putri ApriliyaniState University of Semarang1
Kuat Waluyo JatiState University of Semarang1
Tri Susilo Wahyu AjiState University of Semarang1
Indah Fajarini Sri WahyuningrumState University of Semarang1
Meilani Intan PertiwiState University of Semarang1
Anis ChaririDiponegoro University1
Andri PrastiwiDiponegoro University1

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Sumber metadata: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/sju/index.php/aaj/oai, pertama di-harvest 5 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en-US">Determinants of Debt Policy with Profitability as a Moderating Variable</dc:title>
	<dc:creator>sulistiani, Ana</dc:creator>
	<dc:creator>Agustina, Linda</dc:creator>
	<dc:description xml:lang="en-US">This study aims to examine the effect of sales growth, institutional ownership and company size on debt policy with profitability as a moderating variable. The research population was all of the property and real estate companies listed on the Indonesia Stock Exchange 2014-2017 as many as 61 companies. The sampling method used purposive sampling, so a sample of 34 companies was obtained with analysis units of 136. The data collection method used was the documentation method. The analysis technique of this research used multiple regression using the absolute difference test. The results show that sales growth and company size has a significant positive effect on debt policy. Institutional ownership has a significant negative effect on debt policy. Profitability significantly moderates the effect of sales growth and company size on debt policy. Profitability is not able to moderate institutional ownership on debt policy. The conclusion of this study is that all independent variables influence debt policy and profitability are able to moderate sales growth and company size but are not able to moderate institutional policy towards debt policy. Suggestions for further research can use other variables that are thought to influence debt policy.</dc:description>
	<dc:publisher xml:lang="en-US">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2020-04-08</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/sju/aaj/article/view/35181</dc:identifier>
	<dc:identifier>10.15294/aaj.v8i3.35181</dc:identifier>
	<dc:source xml:lang="en-US">Accounting Analysis Journal; Vol 8 No 3 (2019): November; 184-190</dc:source>
	<dc:source>2502-6216</dc:source>
	<dc:source>2252-6765</dc:source>
	<dc:source>10.15294/aaj.v8i3</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/sju/aaj/article/view/35181/15830</dc:relation>
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