PENGARUH KEPEMILIKAN MANAJERIAL, POSISI KAS TERHADAP KEBIJAKAN HUTANG DAN KEBIJAKAN DIVIDEN DALAM MENGURANGI KONFLIK KEAGENAN LABA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK JAKARTA
Daftar Isi:
- This Research aim to to analyse whether ownership of manajerial, cash position have an effect on to policy of dividend and debt policy in lessening agent conflict manufacturing business enlisted Effect Exchange Jakarta, and accurate sample manufacturing business during five year from year 2001 until year 2005. According to hypothesis of free cash flow of dividend policy used to influence the decision manajerial, so that lessen the agent expense related to free cash stream. mechanism of Pengurang of agent problem by using free cash stream to pay the dividend. Thereby the reduction mechanism can avoid the allocation action which not profit and improve the dividend to strengthen the company position in searching fund addition that is through debt. Analyse the data by using doubled regresi. As variable dependen policy of dividend and debt policy while as independent variable the ownership of manajerial and cash position, and for the variable of control the company efficiency, sise-aset, growth and profitability. Result of first research hipotesis indicate that the ownership of manajerial not have an effect on by signifikan to debt policy. As well as indicating that cash position have an effect on by signifikan to debt policy. For the hypothesis of second indicate that the ownership of manajerial not have an effect on by signifikan to dividend policy. As well as indicating that cash position not have an effect on by signifikan to dividend policy.