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PENGARUH MARKET TO BOOK VALUE DAN LIKUIDITAS TERHADAP KEPUTUSAN HEDGING PADA PERUSAHAAN MANUFAKTUR DI BEI

Dra. Ni Ketut Purnawati, M.S., Ni Ketut Purnawati (2016) PENGARUH MARKET TO BOOK VALUE DAN LIKUIDITAS TERHADAP KEPUTUSAN HEDGING PADA PERUSAHAAN MANUFAKTUR DI BEI. E-Journal Manajemen Universitas Udayana, 5. ISSN 2302-8912

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Abstract

ABSTRAK Hedging merupakan suatu strategi yang dilakukan khususnya untuk mengurangi atau meniadakan risiko pada suatu investasi. Keputusan hedging dipengaruhi oleh market to book value (MTBV) dan likuiditas. Tujuan penelitian ini adalah untuk mengetahui signifikansi pengaruh market to book value dan likuiditas terhadap keputusan hedging pada perusahaan manufaktur di Bursa Efek Indonesia. Penelitian ini mengambil sampel 6 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode penelitian yaitu tahun 2009-2013 dengan menggunakan metode purposive sampling. Teknik analisis yang digunakan dalam penelitian ini adalah analisis regresi linier berganda (multiple linier regresion analysis). Hasil pengujian hipotesis menunjukkan bahwa variabel MTBV secara signifikan berpengaruh positif terhadap penggunaan instrumen derivatif dan variabel likuiditas secara signifikan berpengaruh negatif terhadap penggunaan instrumen derivatif. Kata Kunci : hedging, instrumen derivatif, MTBV, likuiditas ABSTRACT Hedging is a strategy that is made in particular to reduce or eliminate risks involved in an investment . Hedging decisions are influenced by market to book value (MTBV) and liquidity. The purpose of this study was to determine the significance of the influence of market to book value and liquidity of the hedging decisions on manufacturing companies in Indonesia Stock Exchange . This study sampled 6 companies listed in the Indonesia Stock Exchange during the period of the year 2009-2013 study using purposive sampling method . The analysis technique used in this research is multiple linear regression analysis (multiple linear regresion analysis) . Hypothesis testing results show that the variable MTBV significantly positive effect on the use of derivative instruments and the liquidity variables significantly negative effect on the use of derivative instruments . Keywords: hedging, derivative instrument, MTBV, liquidity

Item Type: Article
Uncontrolled Keywords: -
Subjects: L Education > L Education (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Education
Depositing User: Mr. Repository Admin
Date Deposited: 07 Jun 2016 21:58
Last Modified: 21 Jun 2016 05:58
URI: http://erepo.unud.ac.id/id/eprint/1067

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