INSIDER OWNERSHIP, DIVIDEN, DAN KEBIJAKAN HUTANG: PERAN MODERASI FREE CASH FLOW

Prita Sukma Ariyanti
2013 Jurnal Riset Akuntansi dan Keuangan  
The purpose of this study is to examine the moderating role of free cash flow to relationship between insider ownership and dividend toward debt policy. This studi uses non-banking and insurance firms, which listed in the indonesian stock market over 2004 - 2008. Empirical data are analyzed by using pooled least square method. The results show that insider ownership has positive influence on debt policy meanwhile dividend payout ratio has negative influence on debt policy. Free cash flow has
more » ... ee cash flow has the moderating effect on the relationship between insider ownership and dividend toward debt policy. Keywords: Insider Ownership, Dividend Payout Ratio, Debt Policy, Free Cash Flow.
doi:10.21460/jrak.2013.91.175 fatcat:dx33chj5xnb35jlbridodhryum