The research aims to examine the effect of company size, profitability, dividend policy,
asset structure, company growth and free cash flow on debt policy. The object of this study uses
manufacturing companies listed on the Indonesia Stock Exchange. The data used is secondary
data in the form of annual financial statements for the 2015-2017 period. The collection technique
used in this study was purposive sampling while the data analysis techniques used in this study
were descriptive statistics, classic assumption tests, multiple regression analysis and hypothesis
testing. The results of the analysis show that the size of the company has a negative and not
significant effect on debt policy, profitability has a negative and significant effect on debt policy.
While dividend policy, asset structure and company growth not have a positive and not significant
effect on debt policy. And free cash flow has a positive and significant effect on debt policy.