Ownership Structure, Debt Policy, and Financial Constraints

Bintang Lazuardi Benteng Buana Muslim, Abdul Moin

Abstract


This study aims to determine how the effect of ownership structure on debt policy with financial constraints as a moderating variable in non-financial companies listed on the Indonesia Stock Exchange in 2015-2019. The partial results of foreign, managerial, institutional, and family ownership do not affect the debt to equity ratio (DER). Financial constraints can moderate institutional ownership against the DERbut cannot moderate foreign, managerial and family ownership to theDER. The partial results of foreign, managerial, institutional, and family ownership do not affect the debt to asset ratio (DAR). Financial constraints can moderate managerial and institutional ownership of theDAR but cannot moderate foreign and family ownership of theDAR. Meanwhile, foreign ownership, managerial, institutional, family, and financial constraints simultaneously influence debt policy.

Keywords


debt policy, ownership structure, financial constraints

Full Text:

PDF


DOI: https://doi.org/10.29259/sijdeb.v1i1.63-90

Refbacks

  • There are currently no refbacks.



Sriwijaya International Journal of Dynamic Economics and Business
Jl. Srijaya Negara Gedung Fakultas Ekonomi Lt.3
Fakultas Ekonomi Universitas Sriwijaya
Bukit Besar, Palembang, Sumatera Selatan, Indonesia, 30139
Email: sijdeb@unsri.ac.id


p-ISSN: 2581-2904 | e-ISSN: 2581-2912


Creative Commons License
Sriwijaya International Journal of Dynamic Economics and Business by http://sijdeb.unsri.ac.id is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.


View My Stats

 SIJDEB is Indexed by: 

Logo DOAJLogo Google Scholar UnsriLogo Google Scholar UnsriNeliti