This study aims to examine the Effect of Company Size, Profitability, Managerial Ownership, Asset Structure, and Business Risk on Debt Policy. The sample used in this study is a manufacturing company listed on the Indonesia Stock Exchange in 2015-2017. In this study a sample of 101 companies were selected using the purposive sampling method. The analysis test used is multiple linear regression with a test tool, outlier SPSS 32 regresi eviews 7. Based on the results of the research and analysis that have been carried out the results show that company size (SIZE), asset structure, and business risk (BRISK) have a positive and significant effect on debt policy (DAR), profitability (ROA) has a negative and significant effect on debt policy (DAR), and managerial ownership (MOWN) has a negative and not significant effect on debt policy (DAR).