PENGARUH INTEREST COVERAGE RATIO, FOREIGN LIABILITY, CURRENT RATIO DAN DEBT TO EQUITY RATIO TERHADAP PENGAMBILAN KEPUTUSAN HEDGING
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Institusion
Universitas Katolik Musi Charitas
Author
Natalia, Rina
Subject
H Social Sciences (General)
Datestamp
2022-06-13 10:46:44
Abstract :
ABSTRACT This study aims to determine whether the variable ratio of interest coverage ratio, foreign liability, current ratio and debt to equity ratio has an influence on the company's decision in hedging. The theory used in this research is shareholder value maximization theory. The population in this research is infrastructure, utility and transportation company listed on BEI 2015-2017. The sampling technique uses purposive sampling method with the provisions of (1) infrastructure, utility and transportation companies listed on BEI (2) infrastructure, utility and transportation companies that publish annual reports that have been audited and complete (3) Infrastructure, utilities and transportation companies exposure to market risk (4) financial data using the rupiah currency and (5) companies with positive operating and equity earnings. Data analysis technique used is logistic regression analysis, to know the variables that influence the probability of use of hedging activity instrument. The result showed that the variable of interest expense ratio had a significant positive effect, the foreign debt had negative and insignificant effect, the current ratio had positive and insignificant influence and the ratio of debt to capital had positive and significant effect. Keywords: hedging, derivative instruments, interest coverage ratio, foreign liability, current ratio, and debt to equity ratio
ABSTRACT This study aims to determine whether the variable ratio of interest coverage ratio, foreign liability, current ratio and debt to equity ratio has an influence on the company's decision in hedging. The theory used in this research is shareholder value maximization theory. The population in this research is infrastructure, utility and transportation company listed on BEI 2015-2017. The sampling technique uses purposive sampling method with the provisions of (1) infrastructure, utility and transportation companies listed on BEI (2) infrastructure, utility and transportation companies that publish annual reports that have been audited and complete (3) Infrastructure, utilities and transportation companies exposure to market risk (4) financial data using the rupiah currency and (5) companies with positive operating and equity earnings. Data analysis technique used is logistic regression analysis, to know the variables that influence the probability of use of hedging activity instrument. The result showed that the variable of interest expense ratio had a significant positive effect, the foreign debt had negative and insignificant effect, the current ratio had positive and insignificant influence and the ratio of debt to capital had positive and significant effect. Keywords: hedging, derivative instruments, interest coverage ratio, foreign liability, current ratio, and debt to equity ratio
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EA-2018-141512-cover.pdf
EA-2018-141512-abstract.pdf
EA-2018-141512-complete.pdf
EA-2018-141512-summary_id.pdf
EA-2018-141512-tableofcontent.pdf
EA-2018-141512-chapter1.pdf
EA-2018-141512-chapter2.pdf
EA-2018-141512-chapter3.pdf
EA-2018-141512-chapter4.pdf
EA-2018-141512-conclusion.pdf
EA-2018-141512-reference.pdf
EA-2018-141512-attachment.pdf
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