Please use this identifier to cite or link to this item: http://repository.uinjkt.ac.id/dspace/handle/123456789/35466
Title: Analisis Faktor Yang Mempengaruhi Penggunaan Instrumen Derivatif Sebagai Pengambilan Keputusan Hedging
Authors: Lutfi Wijaya
Advisors: Pudji Astuty
Deni Pandu Nugraha
Keywords: Derivative Instrument, Hedging, Institutional Ownership, Liquidity, Firm Size, Growth Opportunity, Debt to Equty
Issue Date: 3-Mar-2017
Publisher: UIN Syarif Hidayatullah Jakarta: Fakultas Ekonomi dan Bisnis, 2017
Abstract: Hedging is an alternative of risk management that aims to protect the assets of company from losses caused by the risk. This study’s purpose is to analyze the influence of independent variables which include Debt to Equity, Growth Opportunity, Firm Size, Liquidity, and Institutional Ownership on hedging decision using derivative instruments at infrastructure, utility, and transportation companies listed on the Indonesia Stock Exchange in 2011-2015. Sample selection method used in this research is purposive sampling method with the provision of the company that publishes full financial statements in which 25 companies were included in the infrastructure, utility, and transportation companies as sample. This research used logistic regressions analysis technique, to find sets of variables that affect the probability the use of derivative instruments as hedging activities. The results of this study found that Debt to Equity, Growth Opportunity, Firm Size, Liquidity, and Institutional Ownership have significant effect on Hedging Decision using derivative instruments. From the results of logistic regression found that the variable Debt to Equity, Growth Opportunity, Firm Size, Liquidity, and Institutional Ownership for the different effect of companies to infrastructure, utility, and transportation companies can explain Hedging Decision using derivative instruments by 54,2%, and the rest is explained by other variables outside the model.
URI: http://repository.uinjkt.ac.id/dspace/handle/123456789/35466
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