THE INFLUENCE OF FINANCIAL DETERMINANTS ON CORPORATE HEDGING OF LQ 45 INDEX COMPANIES LISTED IN INDONESIAN STOCK EXCHANGES | ELECTRONIC THESES AND DISSERTATION

Electronic Theses and Dissertation

Universitas Syiah Kuala

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THE INFLUENCE OF FINANCIAL DETERMINANTS ON CORPORATE HEDGING OF LQ 45 INDEX COMPANIES LISTED IN INDONESIAN STOCK EXCHANGES


Pengarang

Juliana - Personal Name;

Dosen Pembimbing



Nomor Pokok Mahasiswa

1401103010014

Fakultas & Prodi

Fakultas Ekonomi dan Bisnis / Akuntansi (S1) / PDDIKTI : 62201

Penerbit

Banda Aceh : FAKULTAS EKONOMI BISNIS UNIVERSITAS SYIAH KUALA., 2019

Bahasa

Indonesia

No Classification

1

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The objective of this research is to show the influence of financial determinants such as leverage, liquidity and firm size either partially or simultaneously on the practice of corporate hedging. By utilizing purposive sampling techniques on the secondary data, the total of 105 sample studies were drawn from LQ 45 index companies listed on Indonesian stock exchange for the period 2015 2017. Logistic regression analysis provided by SPSS 24.0 is employed to test the hypotheses constructed within this research. The result of Multiple Logistic Regression presents the evidence that Leverage, Liquidity and Firm Size simultaneously have a significant effect on the Corporate hedging Practices. Alongside, it also affirms that partially, Leverage and Firm Size have significant effect on the Practice of Corporate Hedging, while liquidity has insignificant effect on corporate hedging. The study highlighted effective usage of derivative instruments will enable corporations to define their hedging policies that are compatible with firm’s internal investment and financing policies. Therefore, properly planned and implemented investment, financing and hedging policies, will not only facilitate firms in achieving their primary goal of shareholders’ wealth maximization, but may also enhance economic stability.
Keywords: Corporate Hedging, Leverage, Liquidity, Firm size

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