Divo Azriel Hakim, . (2025) DETERMINAN PENGAMBILAN KEPUTUSAN HEDGING PADA PERUSAHAAN SEKTOR PERTAMBANGAN DI BURSA EFEK INDONESIA. Skripsi thesis, Universitas Pembangunan Nasional Veteran Jakarta.
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Abstract
Mining companies in Indonesia are exposed to exchange rate risk due to export activities denominated in US dollars (USD). However, not all firms engage in financial hedging using derivative instruments, as a natural hedge is inherently formed through USD-based revenue structures. This study aims to examine the effects of leverage, financial distress, and firm size on hedging decisions among mining companies listed on the Indonesia Stock Exchange from 2019-2024. This research employs secondary data from mining companies over a specific observation period and applies logistic regression analysis. Hedging decisions are treated as the dependent variable, while leverage, financial distress, and firm size serve as independent variables. The results indicate that leverage and firm size has no significant effect on hedging decisions, whereas financial distress has a negative effect on hedging decisions. These findings suggest that hedging decisions in the mining sector are more strongly driven by USD-denominated revenue structures as a form of natural hedge rather than by conventional financial ratios. Consequently, mandatory hedging regulations may lead to inefficiencies for mining firms.
| Item Type: | Thesis (Skripsi) |
|---|---|
| Additional Information: | [No. Panggil: 2210111028] [Pembimbing: Jubaedah]. [Penguji 1: Ardhiani Fadila] [Ketua Penguji: Sri Mulyantini] |
| Uncontrolled Keywords: | Hedging, Leverage, Financial Distress, Firm Size, Natural Hedge |
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory H Social Sciences > HG Finance |
| Divisions: | Fakultas Ekonomi dan Bisnis > Program Studi Manajemen (S1) |
| Depositing User: | DIVO AZRIEL HAKIM |
| Date Deposited: | 13 Apr 2026 02:21 |
| Last Modified: | 13 Apr 2026 02:21 |
| URI: | http://repository.upnvj.ac.id/id/eprint/41663 |
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