The Effect of Debt Policy on the Financial Performance of Manufacturing Companies Listed on the Indonesia Stock Exchange in 2013-2017

Elsa Fitri Amran

Elsa Fitri Amran IAIN Batusangkar

Abstract

This research aims to know the influence of the policy of debt to financial performance at manufacturing companies registered in BEI. Debt policy diproksikan with short term debt (STD), long term debt (LTD) and the total debt (TD), while financial performance diproksikan with return on equity (ROE). This research is quantitative approach with causal research, while based on the level of eksplanasinya this study including the study of associative. The population of the research was a manufacturing company listed in BEI 2013-2017 year with purposive sampling technique and acquired 25 companies. Based on the results of data analysis, STD negative and significant effect against ROE by a coefficient of regression-2.782 and the level of significance of 0.021. The variable is negative and significant influential LTD against regression coefficient value of ROE amounted to 0.365 and level-signifkansi of 0.013. Variable TD has no effect and the regression coefficient of the level of significance with 0.642 0.115. Values test F of 0.015 so short term debt (STD), long term debt (LTD) and the total debt (TD) the simultaneous effect on return on equity (ROE).

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