Pengaruh Arus Kas Bebas, Pertumbuhan Perusahaan, Dan Profitabilitas Terhadap Kebijakan Utang Dengan Ukuran Perusahaan Sebagai Variabel Moderasi Pada Perusahaan Sektor Pertambangan Yang Terdaftar di BEI Tahun 2017-2021

Abstract

This study aims to determine the effect of free cash flow, firm growth, and profitability on debt policy with firm size as a moderating variable in mining sector companies listed on the IDX in 2017 – 2021. This type of research is associative/relationship research, which uses population data from mining sector companies listed on the IDX in 2017 – 2021. The sampling method used in this study is purposive sampling and acquired 21 companies as sample with 105 observations. The results showed that free cash flow has no effect on debt policy, firm growth has a positive effect on debt policy, profitability has a negative effect on debt policy, free cash flow had been moderated by firm size has no effect on debt policy, firm growth had been moderated by firm size has an effect on debt policy, as well as profitability had been moderated by firm size has an effect on debt policy. Simultaneously, free cash flow, firm growth, profitability, firm size, free cash flow moderated by firm size, firm growth moderated by firm size, and profitability moderated by firm size have a significant effect on debt policy in mining sector companies listed on the IDX in 2017–2021.