<![CDATA[ABSTRACTIn 2018 Indonesian manufacturing companies were asked to Debt Restructuring, meaning that they were included in the Delayed Obligation of Debt Payment (PKPU) throughout 2018. While manufacturing companies recorded 18 PKPU requests, according to Law 37/2004 on PKPU and bankruptcy, on condition that debtors have fallen debt. due, and can be billed and can be proven simply (Kontan.co.id). This study is to examine the effect of free cash flow, profitability, dividend policy and company size on the leveraga of manufacturing companies listed on the Indonesia Stock Exchange. The population of manufacturing companies at the end of the 2018 period is 162 companies. Purposive sampling technique of sampling, 8 companies as samples. Financial report data from the official IDX website. Using the panel data regression analysis method is assisted by the E-Views 8 application. The initial test is to test the chow-test to decide whether the pooled least square or fixed effect method is used; and the Hausman-test to determine the fixed or random effect method used. the results showed that free cash flow had no effect on leverage, profitability had a significant negative effect on leverage, dividend policy had a significant negative effect on leverage, and company size had no effect on leverage.Keywords: Free Cash Flow, Profitability, Dividend Policy, Company Size, Leverage]]>
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