THE EFFECT OF LIQUIDITY, FREE CASH FLOW, SALES GROWTH, AND COLLATERALIZABLE ASSETS ON DEBT POLICY

Afina Lutfi Fadhilah, Liliek Nur Sulistiyowati, Ririh Anggraini Setyahety

Abstract


This study aim is to determine the effect of liquidity, free cash flow, sales growth, and collateralizable assets on debt policy in the infrastructure sector companies listed on the Indonesia Stock Exchange for the 2020-2024 period. The method to this research used is quantitative. The study population includes companies in the infrastructure sector listed on the Indonesia Stock Exchange and have published annual reports or complete financial statements between 2020 and 2024. The sampling method used is purposive sampling of 70 infrastructure sector companies resulting in 39 companies as study samples. The data analysis method used was multiple linear regression analysis with SPSS software version 25. Data analysis uses descriptive analysis, classical assumption tests, multiple linear regression analysis, hypothesis testing, and coefficient of determination. The results show that liquidity has a significant negative effect on debt policy, free cash flow has no effect on debt policy, sales growth has no effect on debt policy, and collateralizable assets have a significant negative effect on debt policy.

Keywords: Collateralizable Assets, Debt Policy, Free Cash Flow, Liquidity, Sales Growth.

 


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