Pengaruh struktur kepemilikan terhadap pemilihan utang bank pada perusahaan publik manufaktur di Indonesia

Deskripsi

This thesis examines the effect of entrenchment effect and alignment effect of ultimate owner on choice of bank debt and the effect of financial distress risk and family ownership on relationship between entrenchment effect and bank debt in Indonesian Public Manufacturing Company from 2008 to 2012. This research use tobit regression model. The result show us that ultimate owner entrenchment effect positively affect firm?s bank debt proportion. Financial distress risk can not explain the relationship between ultimate owner entrenchment incentive and bank debt proportion. Family ownership strengthens negative relationship of entrenchment effect and bank debt proportion. Alignment effect of ultimate owner affects bank debt proportion negatively significant.Ada tabel