Pengaruh Free Cash Flow, Pertumbuhan Penjualan, Kebijakan Dividen, Profitabilitas, dan Ukuran Perusahaan Terhadap Kebijakan Hutang pada Perusahaan Sub Sektor Properti dan Real Estate yang Terdaftar di Bursa Efek Indonesia Tahun 2020 – 2023

Abstract

Debt Policy is a policy taken by company management to fund its operational activities with capital sourced from debt. Many factors influence debt policy, including free cash flow, sales growth, dividend policy, profitability, and company size. This study is a quantitative study that aims to see whether free cash flow, sales growth, dividend policy, profitability, and company size effect on debt policy. There are 5 (five) independent variables in this study, namely free cash flow, sales growth, dividend policy, profitability, and company size, while the dependent variable is dividend policy. The data collection method uses the documentation method and the research data is secondary data. The data analysis used in this study is the multiple linear regression analysis method of panel data with the Fix Effect Model approach. The results of the study prove that free cash flow and dividend policy have a positive and insignificant effect on debt policy. Sales growth and company size have a positive and significant effect on debt policy. Profitability has a negative and significant effect on debt policy.