PENGARUH KEPEMILIKAN SAHAM INSTITUSIONAL DAN KEBIJAKAN HUTANG TERHADAP KEPEMILIKAN MANAJERIAL

Abstract

This study aims to determine the effect of institutional ownership and debt policy to managerial ownership in companies listed in Indonesia Stock Exchange from 2003 to 2006 period. The population in this study is that there is a manufacturing company in Indonesia Stock Exchange in 2003-2006.Jenis data used are secondary data is data obtained indirectly through the Indonesian Capital Market Directory. Sampling technique using purposive sampling that samples with the use of certain of these criteria. Of these criteria, then the sample was obtained as many as 37 companies. Data analysis technique used is multiple regression analysis testing.
The results showed that there was no influence between debt policy (DR) with managerial ownership (MOWN) can be explained that the variable DR is a policy variable that is owned by the company's debt to finance their operations. In this research does not affect the debt policy and managerial ownership because the existing managerial ownership in this study has a very small percentage so that a manager is limited to perform the duties of corporate management.

Keywords: institutional ownership, debt policy, managerial ownership.