PENGARUH STRUKTUR MODAL TERHADAP DEBT AGENCY PROBLEM Abstraksi / Abstracts:
The purpose of this study is to acknowledge the influence of ownership structure and capital structure to the agency cost of debt. The sample used in thisstudy is a manufacturing company listed on the Indonesia Stock Exchange during the period 2008 to 2012. The independent variable in this study is managerial ownership, ownership concentration, bank debt, short debt, total debt, debt ratio, dividend payoutratio, profitability, size, and growth opportunities, while the dependent variable is the agency cost of debt (proxy I) and agency cost of debt (proxy II). Technique analysis using multiple regression analysis and hypothesis testing. The results show thatownership structure have an influence on the agency cost of debtproportion of firm assets not invested in fix plant and equipment, but ownership structure didn’t have an influence on agency cost of debt liquidity of firm assets.Whilecapital structure also have an influence on the agency cost of debtproportion of firm assets not invested in fix plant and equipment and agency cost of debt liquidity of firm assets.
Kata Kunci / Keywords:
Capital Structure, Debt Agency Problem, Debt Ratio, Managerial Ownership, Ownership Concentration, Ownership Structure
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