Analisis Debt To Equity Ratio (DER) Perspektif Managerial Ownership Dan Free Agent Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia
This research examine the differences of debt policy that proxed with Debt to Equity Ratio (DER) by manager who has stocks in corporation (managerial ownership) and manager who does not has stocks in corporation (free agent). The research observes 119 manufacturing companies listed on the Indonesian Stock Exchange (IDX) in 2017, that classified of 25 companies were category managerial ownership and 94 companies were category free agent. Determination of the sample using purposive sampling method and data were analysed by parametric statistic that is independent sample t-test. The result of this research there is no difference in Debt to Equity Ratio (DER) by managerial ownership and free agent. This research proved that managerial ownership does not use debt lower than the free agent.
Keywords: Managerial Ownership, Free Agent, dan Debt to Equity Ratio (DER)