FREE CASH FLOW KEBIJAKAN HUTANG DAN STRUKTUR KEPEMILIKAN: SUATU PENGUJIAN DENGAN MENGGUNAKAN TWO STAGE LEAST SQUARE

T Simamora, Dimpos and Eddy, Suranta (2012) FREE CASH FLOW KEBIJAKAN HUTANG DAN STRUKTUR KEPEMILIKAN: SUATU PENGUJIAN DENGAN MENGGUNAKAN TWO STAGE LEAST SQUARE. Undergraduated thesis, Fakultas Ekonomi UNIB.

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Abstract

The aim of this research is giving a empirical evidence about the effect of leverage, managerial ownership, institutional ownership to free cash flow and the effect of free cash flow to leverage. The population of this research are all firms which listing in Indonesian stock exchange on period 2008-2010. Used purposive sampling technic that gets 50 sample firms which all of the sample are non financial firms. Based on hyphotesis testing result obtained evidence that leverage have a negative influences to free cash flow but free cash flow has not a positive influences to leverage. Using a statistic tools TSLS, the research prove that free cash flow as endonus variable and laverage as exsogenus variable. This research also gather evidence that both managerial and institutional ownership have a negative and significant influence to free cash flow.

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