PENGARUH GROWTH OPPORTUNITY, LIKUIDITAS DAN LEVERAGE TERHADAP PENGAMBILAN KEPUTUSAN HEDGING DENGAN MENGGUNAKAN INSTRUMENT DERIVATIF (Studi Kasus Pada Perusahaan Manufaktur Yang Tercatat Di BEI Periode 2014-2017)
| Main Author: | Dewi, Fitria |
|---|---|
| Format: | Thesis NonPeerReviewed Book |
| Bahasa: | eng |
| Terbitan: |
, 2019
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| Subjects: | |
| Online Access: |
https://eprints.untirta.ac.id/3293/1/PENGARUH%20GROWTH%20OPPORTUNITY%2C%20LIKUIDITAS%20DAN%20LEVERAGE%20TERHADAP%20PENGAMBILAN%20KEPUTUSAN%20HEDGING%20DENGAN%20MENGGUNAKAN%20INSTRUMENT%20DERIVATIF.pdf https://eprints.untirta.ac.id/3293/ https://feb.untirta.ac.id/ |
Daftar Isi:
- The purpose of this study is to determine the effect of growth opportunity, liquidity and leverage on hedging decision by using derivative instruments on manufacturing companies listed on Indonesian Stock Exchange Period 2014 – 2017. Population used in this study is all the manufacturing companies listed on the Indonesia Stock Exchange for the period 2014-2017. The sample in this study amounted to 50 companies by using purposive sampling method. This study used a quantitative approach and data used is a secondary data. This study used logistic regression method. Based on the results of the study indicated that the growth opportunity proxied with market to book value have regression coefficient value of 0,285 with significance value of 0,001 < 0,05 , and wald value of 11,857 > 3,841. Meaning that the growth opportunity have a positive significantly influence on hedging decision by using derivative instruments. Liquidity variable proxied with current ratio have resgression coefficient value of -0,004 with significance value of 0,027 < 0,05 and wald value 4,920 > 3,841. Meaning that liquidity have a negative significantly influence on hedging decision by using derivative instruments. Leverage variable proxied debt to equity ratio have regression coefficient value of 0,011 with significance value of 0,907 > 0,05 and wald value of 0,014 < 3,841. It means leverage have positive unsignificantly on hedging decision by using derivative instruments. The value of Nagelkerke's R Square is 0.227 which means Growth Opportunity, liquidity, and leverage variables can explain Hedging decision by using derivative instrument on Manufacturing Companies by 22,7% and the rest of 77,3% explained by other variables outside the research model. The current logistic regression equation can be formulated: Hedging Decision = -0,612 + 0,285 (MBV) – 0,004 (CR) + 0,011 (DER) Keyword : Growth Opportunity, Liquidity, Leverage, Hedging