The purpose of this study was to examine the effect of institutional ownership, company size, and debt policy towards agency cost. The population used were consumption sector companies listed in the Indonesia Stock Exchange (IDX) during 2014-2016 period. The sample was taken by purposive sampling on 42 companies with three years observation so the selected sample were 104 observations. Through multiple linear regression analysis method, the results shown that institutional ownership and firm size have an effect toward agency costs, while debt policy has no effect toward agency cost.