ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI PENGAMBILAN KEPUTUSAN HEDGING (Studi Kasus Pada Perusahaan Manufaktur Sub Sektor Otomotif dan Komponen Yang Terdaftar di BEI Periode 2013-2017)

Abstract

This research aims to predict the probability of variables that influence the hedging decisions in firms. The advantage of firms that knowing which variables is most influence the probability the use of hedging decisions, the firms could protect themselves from loss, that caused from market risk fluctuation, after that firms can increase their value as a result avoid the risk. The population in this research are the type of business manufacturing firms Automotive and Component listed on the Stock Exchange Indonesia during the period 2013 to 2017. This research used logistic regressions analysis technique to find sets of variables affecting the probability the use of hedging activities. Variables used are Market to Book Value, Liquidity, Leverage, Growth Opportunity, and Financial Distress. Test results used logistic regressions method, showed that the five of variables used in this research there are three variables that affect the probability of firms to make hedging decisions. Those variables affecting the hedging activity are leverage, growth opportunity, and financial distress.

Keyword: hedging, market to book value, liquidity, leverage, growth opportunity, and financial distress.