Made Reina Candradewi
Fakultas Ekonomi Dan Bisnis Universitas Udayana

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Journal : Matrik: Jurnal Manajemen, Strategi Bisnis, dan Kewirausahaan

Pengaruh Kinerja Keuangan, Tata Kelola Perusahaan Dan Penggunaan Derivatif Terhadap Risiko Perusahaan Made Reina Candradewi; Henny Rahyuda
Matrik : Jurnal Manajemen, Strategi Bisnis dan Kewirausahaan Volume 13 Nomor 2 Tahun 2019
Publisher : Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (799.374 KB) | DOI: 10.24843/MATRIK:JMBK.2019.v13.i02.p12

Abstract

This study aims to determine the effect of financial performance, corporate governance and derivatives usage on firm risk of non-financial companies listed in Kompas100 index at Indonesia Stock Exchange (IDX). This study employs six important independent variables that influence the firm risk, including liquidity, leverage, profitability, the proportion of independent commissioners and derivatives usage. The population in this study are all non-financial companies listed on the Kompas100 index in 2017 which amounted to 85 companies. This study uses purposive sampling method and the final sample is 74 companies. Data analysis technique used in this study is multiple linear regression analysis. Key research findings in this study indicate that leverage has significant and positive effect on firms risk, profitability has significant and negative effect on firms risk and derivatives usage has negative and significant effect on firms risk.
Effect of Liquidity and Managerial Ownership on the Usage of Derivative Instruments and Company Risk Henny Rahyuda; Made Reina Candradewi
Matrik : Jurnal Manajemen, Strategi Bisnis dan Kewirausahaan Volume 16 Nomor 1 Tahun 2022
Publisher : Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (468.194 KB) | DOI: 10.24843/MATRIK:JMBK.2022.v16.i01.p01

Abstract

This study aims to analyze the effect of liquidity, managerial ownership and use of derivatives on corporate risk in the Indonesian capital market, specifically manufacturing companies listed on the IDX.. This research was conducted using a quantitative approach. The population in this study are all manufacturing companies listed on the IDX. The sampling technique used was purposive sampling method. The companies included in the sample of this study are manufacturing companies that use derivative instruments and are always listed on the IDX from 2016 to 2018. A total of 12 companies can be used as final samples in this study. Based on the results of regression analysis and mediation test, it can be concluded that the managerial ownership variable has a significant positive effect on the Usage of Derivative Instruments. The variable Usage of Derivative Instruments has a significant negative effect on company risk. The Usage of Derivative Instruments is able to mediate the relationship between managerial ownership and corporate risk
VARIABEL-VARIABEL PENENTU PENGGUNAAN DERIVATIF PERUSAHAAN NON-KEUANGAN DI BURSA EFEK INDONESIA Made Reina Candradewi; Henny Rahyuda
Matrik : Jurnal Manajemen, Strategi Bisnis dan Kewirausahaan Volume 12 Nomor 1 Tahun 2018
Publisher : Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (173.182 KB) | DOI: 10.24843/MATRIK:JMBK.2018.v12.i01.p01

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh kinerja keuangan dan tata kelola perusahaan terhadap penggunaan derivatif pada perusahaan non-keuangan di Bursa Efek Indonesia (BEI). Penelitian ini menggunakan lima variabel bebas yang berpengaruh terhadap penggunaan derivatif yaitu likuiditas, solvabilitas, profitabilitas, proporsi komisaris independen serta pendidikan komisaris. Populasi dalam penelitian ini adalah seluruh perusahaan non-keuangan yang terdaftar di BEI pada tahun 2015 yang berjumlah 434 perusahaan. Teknik penentuan sampel yaitu dengan purposive sampling method, sehingga sampel akhir pada penelitian ini adalah 54 perusahaan. Teknik analisis data yang digunakan dalam penelitian ini adalah analisis regresi linear berganda. Temuan utama penelitian menunjukkan bahwa solvabilitas berpengaruh secara positif dan signifikan terhadap penggunaan derivatif dan pendidikan komisaris berpengaruh negatif dan signifikan terhadap penggunaan derivatif. Perusahaan non-keuangan di BEI sebaiknya memperhatikan tingkat solvabilitas perusahaan dalam memutuskan penggunaan derivatif sebagai instrumen manajemen risiko.