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All Journal PROSIDING SEMINAR NASIONAL JURNAL BISNIS STRATEGI Jurnal Studi Manajemen Organisasi JDM (Jurnal Dinamika Manajemen) JAM : Jurnal Aplikasi Manajemen Jurnal Pemberdayaan Masyarakat Madani (JPMM) MATAPPA: Jurnal Pengabdian Kepada Masyarakat International Journal of Community Service Learning Valid Jurnal Ilmiah Enrichment : Journal of Management Inobis: Jurnal Inovasi Bisnis dan Manajemen Indonesia Jurnal Pengabdian kepada Masyarakat Nusantara (JPkMN) Jurnal Ilmiah ASET JUDICIOUS: Journal of Management Wasana Nyata JWM (JURNAL WAWASAN MANAJEMEN) WASANA NYATA
Ekayana Sangkasari Paranita
Universitas Sahid
Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Veterinary Other

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Journal : PROSIDING SEMINAR NASIONAL

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KEBIJAKAN HEDGING DENGAN DERIVATIF VALUTA ASING PADA PERUSAHAAN PUBLIK DI INDONESIA Ekayana Sangkasari Paranita
PROSIDING SEMINAR NASIONAL & INTERNASIONAL 2011: PROSIDING SEMINAR NASIONAL EKONOMI
Publisher : Universitas Muhammadiyah Semarang

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Abstract

The purpose of this paper is investigates the corporate hedging policy among Indonesiancapital market to provide empirical evidence on the determinants of the hedging policy.The research using a sample of 150 non-financial manufacturing firms over the period2010. The methodology taken is application of logit regression framework and paneldata technique. It is found that a few Indonesia firms hedge market risks. There is asignificant positive correlation between financial distress costs, underinvestment costs,and assets substitution costs towards corporate hedging policy. Hence, it seems thatIndonesian firms do not assign hedging to respond to tax benefit. At present, most of theIndonesian firms are either cautions or unsure about the use of derivative instruments.There is a need to inform managers about usefulness of the derivatives and market riskreporting that would contribute to greater financial transparency. The findings imply thatfirms should disclose in their publicy financial report that they truly use derivatives forhedging purposes. This paper adds contribution to risk management research byproviding strong empirical evidence of corporate hedging policy in Indonesia as one ofthe emerging market countries.
Co-Authors Azami Syukron Harahap Chandra Hotpartua Daud Johar Setyawan Elma Muncar Aditya Elma Muncar Aditya Endang Wulandari Giyatmi Giyatmi Giyatmi Giyatmi Levyda Levyda Lia Ratnasari Nortuah Nurhasanah, Silva Ratnasari, Lia Rusyaima Farha Salsabila Silva Nurhasanah Suhaji Suhaji Syukron Harahap, Azami Tantri Widiastuti TATAN SUKWIKA Tri Bodroastuti Tri Bodroastuti