This research addresses main question of the conditions of debt-constraint expropriation and debt-facilitate expropriation, and the difference between those conditions on type of group ownership (group or no group-affiliate). Agency theory predicts that debt is bonding and monitoring mechanism...

This research investigates private sector corruption. The research focuses on a firm’s life cycle as it relates to corruption. Free cash flows to dividends and leverage are used as indicators of private sector corruption. The research examines Non-financial firms listed on the Indonesia...

The paper analyzes the relationship between managerial ownership with leverage policy and dividend policy (balancing model of agency theory) and interdependency of dividend and leverage (contracting model of agency theory). The research also test collateral and growth hypothesis. Leverage and...

The research examines the relationship of financial policy (dividend and leverage) influenced managerial ownership. Managerial ownership as dependent variable regressed with dividend and leverage policy that already separate the effect of agents and insiders wealth. Logit Model is use to examine...

Financial crisis in Asia dispersed along the continent and struck Indonesia as well. Many firms in Indonesia suddenly showed financial distress that aggregated by their obligation on debt. Along with financial distress problem, is the problem with decreasing rate of investment opportunity....

The paper is expansion from Mahadwartha (2002b) that is use Logit model to test the predictability power of leverage policy and dividend policy to managerial ownership policy. Leverage and dividend variable used already divided the interest of inside shareholders and outside shareholders. The...