This research aims to analyze the effect of managerial ownership, institutional ownership, liquidity, dividend policy, profitability towards debt policies. The population in this research is the manufacturing companies listed on the Indonesia stock exchange in 2009-2013, while the eligible sample was 32 manufacturing company listed on the Indonesia stock exchange in 2009-2013. The statistics method used was Multiple analysis linear regression, with hypothesis testing of statistic t and F tests, and with analisys helped by EViews program. Based on the analysis of the obtained results has done that simultaneously managerial ownership, institutional ownership, liquidity, dividend policy, profitability together effect on debt policy on manufacturing companies listed on the Indonesia stock exchange.