This research test the impact of blockholder ownership, firm size, business risk, nondebt tax shield, and profitability on debt policy of companys listed in the Jakarta Islamic Index in the period of 2011-2016. Purposive sampling is used with sample of 20 companies. Analysis technique use are descriptive analysis, multiple regression analysis, classical assumption test, and model fit test.The result of simultaneous test ( F test)showed that blockholder ownership, firm size, business risk, nondebt tax shield, and profitability have impact on the debt policy.
While the partial test (t test) showed that blockholder ownership has a negative and significant effect on debt policy, firm size has a negative and significant effect on debt policy, business risk has a negative and significant effect on debt policy, nondebt tax shield has a negative and significant effect on debt policy, and profitability has a negative and significant on debt policy. The adjusted showed that predictive ability of the five independent variables is 50,1% and the rest which is 49,9% is influenced by other variables outside the model.
Keywords : Blockholder ownership, firm size, business risk, nondebt tax shield, profitabity, and debt policy.