The Effect of Profitability, Liquidity, and Company Size on Debt Policy in Food and Beverage Companies Listed on the Stock Exchange for the 2018-2022 Period

Abstract

This study aims to examine the Influence of Profitability, Liquidity, and Company Size on Debt Policy.
Based on the results of the hypothesis testing conducted in this study, it can be concluded that partially profitability
has a significant positive effect on debt policy with a calculated t value of 6.326 > t table 1.661 and a significant 0.00 <
0.05 so that the H1 hypothesis can be accepted. Liquidity has a significant positive effect on debt policy with a t-value
of 4.455 > t table 1.661 and a significant 0.000 < 0.05 so that the H2 hypothesis can be accepted. The size of the company
has a positive and significant effect on the debt policy where the value of t is calculated 4.597 > t table 1.661 and is significant
by 0.00 < 0.05 so that the H3 hypothesis is accepted. Profitability, Liquidity, and Company Size simultaneously had
a positive and significant effect on debt policy with a value of 41.759 > table 2.70 and a significant 0.000 < 0.05 so that the H4
hypothesis could be accepted. Therefore, it can be concluded that Profitability (X1), Liquidity (X2), and Company
Size (X3) simultaneously have a positive and significant effect on Debt Policy (Y) obtained the value of the determination
coefficient written R Square of 0.579, it can be explained that the magnitude of the proportion of the influence of
profitability, liquidity, and size The company's debt policy was 57.9% while the remaining 42.1% was influenced by
other factors outside the variables used in this study.