scholarly journals THE DETERMINANTS OF HEDGING AND FIRM VALUE: An Empirical Study in Mining Companies Listed on Indonesia Stock Exchange

2018 ◽  
pp. 104
Author(s):  
Garnis Irawanti
Keyword(s):  
Logistic Regression ◽  
Empirical Study ◽  
Financial Distress ◽  
Firm Value ◽  
Stock Exchange ◽  
T Test ◽  
Corporate Hedging ◽  
Determinant Factors ◽  
Mining Companies ◽  
Derivative Instruments

<p class="Keywords">This study aims to determine the determinant factors in the company's hedging decisions and to determine whether the activities of corporate hedging decisions through derivative instruments provide increased value for the company. The sample consisted of 33 mining companies listed on Indonesia Stock Exchange during 2011-2015 period. The method used in this study is logistic regression and independent sample t-test. The result of logistic regression by using variable of financial distress, underinvestment cost, and size showed a positive correlation to corporate hedging decision. Meanwhile, by using an independent sample t-test found that the company's hedging decisions significantly affect the value of firms and the companies with hedging decision activity through derivative instruments have more superior value than companies by using natural hedging decisions.</p><p> </p>

scholarly journals THE INFLUENCE OF PROFITABILITY RATIOS, CAPITAL STRUCTURE AND SHAREHOLDING STRUCTURE AGAINST ON VALUE COMPANY (EMPIRICAL STUDY OF COAL MINING COMPANIES LISTED ON THE STOCK EXCHANGE OF INDONESIA YEAR 2011-2013)

2018 ◽  
Vol 1 (2) ◽  
Author(s):  
Gilang Ramadhan Fajri ◽  
Dwi Asih Surjandari
Keyword(s):  
Empirical Study ◽  
Capital Structure ◽  
Coal Mining ◽  
Firm Value ◽  
Stock Exchange ◽  
Partial Regression Coefficient ◽  
Mining Companies ◽  
Negative Effect ◽  
Profitability Ratios ◽  
Positive Effect

This study has the objective to assess the "Influence of Profitability Ratios, Capital Structure and Shareholding Structure Against On Value Company (Empirical Study of Coal Mining Companies Listed on the Stock Exchange of Indonesia Year 2011-2013)" The analysis technique used in this research is multiple linear regression and hypothesis testing using tstatistic to test the partial regression coefficient and f-statistic to test the feasibility of the research model with a 10% level of significance. It also conducted a classic assumption test including normality test, multicolinearity test, heteroscedasticity test and autocorrelation test. Based on the results of the study indicate that Profitability Return on equity positive effect on firm value. Earning pershare significant positive effect on the value of the company. The capital structure has a positive effect on firm value. institutional ownership has significant negative effect on the value of the company. Managerial ownership negatively affect the value of the company

scholarly journals FAKTOR-FAKTOR YANG MEMPENGARUHI AKTIVITAS HEDGING DENGAN INSTRUMEN DERIVATIF VALUTA ASING

2015 ◽  
Vol 5 (1) ◽  
Author(s):  
Fay Guniarti
Keyword(s):  
Logistic Regression ◽  
Firm Size ◽  
Financial Distress ◽  
Firm Value ◽  
Foreign Currency ◽  
Stock Exchange ◽  
Secondary Data ◽  
Analysis Model ◽  
Growth Opportunity ◽  
Probability Prediction

<p>Penelitian ini bertujuan untuk mengetahui faktor-faktor yang mempengaruhi aktivitas hedging dengan instrumen derivatif valuta asing pada perusahaan non keuangan yang terdaftar di BEI tahun 2010-2012. Data yang digunakan adalah<br />data sekunder yang diunduh dari website Bursa Efek Indonesia. Populasi dalam penelitian ini adalah seluruh perusahaan yang terdaftar di Bursa Efek Indonesia tahun 2010-2012. Sedangkan sampel penelitian ini sejumlah 77 perusahaan yang memiliki eksposur transaksi dan memiliki kelengkapan data untuk diteliti. Dari sampel tersebut sebanyak 28 perusahaan melakukan aktivitas hedging selama periode pengamatan dan 49 perusahaan tidak melakukan aktivitas hedging.Analisis Logistic Regression digunakan untuk menguji hipotesis. Hasil pengujian menunjukkan bahwa model analisis menghasilkan ketepatan 79.2% dan variabel leverage, liquidity, firm size dan financial distress berpengaruh signifikan terhadap prediksi probabilitas aktivitas hedging dengan tingkat signifikansi 5%, sedangkan variabel firm value dan growth opportunity berpengaruh tidak signifikan.</p><p> </p><p>The objective of the study was to know the factors which influence the hedging activity with foreign currency derivative instruments at non-financial companies listed on the Indonesia Stock Exchange in 2010-2012. The data of the research were secondary data which was downloaded from the Indonesia Stock Exchange website. The population of the study was all companies listed in Indonesia Stock Exchange in the period of 2010-2012. There were 77 companies which had the transaction exposure andcomplete data for analysis. From those samples, only 28 companies did hedging activities during the period of observation and 49 companies did not do hedging activities.The data were analyzed by Logistic Regression Analysis to test the hypothesis. The test result showed that analysis model gave the accuracy 79.2% and the research variables; leverage, liquidity, firm size, and financial distress significantly influenced the probability prediction of hedging activity with 5% level of significancy, while the research variables; firm value and growth opportunity did not give significant influence.</p>

scholarly journals Pengaruh Financial Distress, Pertumbuhan Perusahaan Klien, Ukuran Kap, Dan Audit Delay Terhadap Auditor Switching

2019 ◽  
Vol 1 (3) ◽  
pp. 1556-1568
Author(s):  
Faradina Zikra ◽  
Efrizal Syofyan
Keyword(s):  
Logistic Regression ◽  
Regression Analysis ◽  
Logistic Regression Analysis ◽  
Financial Distress ◽  
Sampling Method ◽  
Stock Exchange ◽  
Secondary Data ◽  
Auditor Switching ◽  
Mining Companies ◽  
Company Growth

This study aims to examine the effect of financial distress, client company growth, KAP size and audit delay on auditor switching. This study is classified as comparative causal research. The population in this study are mining companies listed on the Indonesia Stock Exchange period of 2013 to 2017. By using purposive sampling method, there were 85 companies as the research samples. Auditor switchingare measured by dummy. The type of data used is secondary data obtained from www.idx.co.id and use logistic regression analysis. The results of this study indicate that financial distress, client company growth, KAP size and audit delay have no influence on auditor swtiching..

scholarly journals PENGARUH KOMPLEKSITAS OPERASI PERUSAHAAN DAN KOMITE AUDIT TERHADAP AUDIT DELAY DENGAN FINANCIAL DISTRESS SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2016 – 2018

2020 ◽  
Vol 4 (1) ◽  
pp. 94-101
Author(s):  
Yoosita Aulia
Keyword(s):  
Logistic Regression ◽  
Financial Distress ◽  
Audit Committee ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Purposive Sampling ◽  
Mining Companies ◽  
Analysis Technique

This study aims to analyze and prove financial distress is able to moderate the influence of the audit committee and audit committe on audit delay. The population in this study are mining companies listed on the Indonesia Stock Exchange for the period of 2016-2018. The sampling technique uses a purposive sampling technique with a total of 66 samples. The analysis technique used in this study is logistic regression. The results of this study indicate that . Financial distress does not moderate the effect of the complexity of the company's operations on audit delay on mining companies listed on the Indonesia Stock Exchange during the period 2016-2018. Financial distress does not moderate the effect of the audit committee on audit delay on mining companies listed on the Indonesia Stock Exchange during the period 2016-2018.

scholarly journals Analisis Faktor yang Mempengaruhi Penggunaan Instrumen Derivatif Valuta Asing sebagai Pengambilan Keputusan Hedging (Studi pada Perusahaan Manufaktur Sub Sektor Automotive and Allied Products yang terdaftar di BEI Periode 2011-2017)

2019 ◽  
Vol 11 (2) ◽  
pp. 262-275
Author(s):  
Ivonne Bonita
Keyword(s):  
Logistic Regression ◽  
Firm Size ◽  
Financial Distress ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Annual Data ◽  
Manufacturing Companies ◽  
Growth Opportunity ◽  
Derivative Instruments ◽  
Equity Ratio

This paper aims to examine the effect of the variable debt equity ratio (DER), financial distress, growth opportunity, liquidity and firm size on the use of derivative instruments as a means of taking hedging decisions. The population and sample of the company are classified as automotive and allied products sub sector manufacturing companies with annual data obtained from the Indonesia Stock Exchange in the period 2011 to 2017, based on the Indonesia Capital Market Directory 2015. To obtain valid research results, the sampling technique used in the study is a purposive sampling method. Hypothesis testing uses a logistic regression model. Keywords: Hedging, DER, Financial Distress, Firm Size, Logistic Regression

scholarly journals PENGARUH OPERATING CAPACITY, SALES GROWTH DAN ARUS KAS OPERASI TERHADAP FINANCIAL DISTRESS

2019 ◽  
Vol 5 (1) ◽  
Author(s):  
Annisa Livia Ramadhani ◽  
Khairun Nisa
Keyword(s):  
Logistic Regression ◽  
Regression Analysis ◽  
Financial Distress ◽  
Agricultural Sector ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Cash Flows ◽  
Sales Growth ◽  
Operating Capacity ◽  
Operating Cash Flows

This study aims to determine how the influence of operating capacity, sales growth and operating cash flows on financial distress. The population in this study israll agricultural sector companies listed on the Indonesia Stock Exchange (IDX) in 2013-2017. The sampling technique in this study used purposive sampling which produced 8 samples in a period of 5 years, namely as many as 40 units of data samples. The analytical method used is logistic �regression analysis which is processed. using SPSS Version 25. Based on the results of this study, it was found that simultaneous operating capacity, sales growth and operating cash flows influence the occurrence of financial distress. Then partially, operating capacity and sales growth have no effect on the occurrence of financial distress, while operating cash flows have a positive and significant effect on the occurrence of financial distress.�Keyword : Financial Distress, Operating capacity, Sales growth, Operation cash flow.

scholarly journals PENGARUH INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN DENGAN FINANCIAL DISTRESS SEBAGAI VARIABEL INTERVENING

2020 ◽  
Vol 15 (2) ◽  
pp. 169
Author(s):  
Fivi Anggraini
Keyword(s):  
Real Estate ◽  
Intellectual Capital ◽  
Financial Distress ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Analysis Data ◽  
Building Construction ◽  
Business World ◽  
Construction Companies

<p><em>Tight competition between companies in the business world in attracting investors is becoming a strong motivation for them to maximize their firm values. This study aims to determine the effect intellectual capital on firm value with financial distress as an intervening variable on real estate and building construction companies listed in Indonesia Stock Exchange in 2014-2018. Sampling method by using purposive sampling with a total   the samples obtained were 40 from real estate and building construction companies listed in IDX. The data was analysed by using multiple linear regression analysis and path analysis. Data analysis was processed with the SPSS 16. The results of this study showed that intellectual capital have significantly negative effect on financial distress. Simultaneously and partially intellectual capital and financial distress have a significant direct effect on firm value. The indirect test results showed that intellectual capital has a significant effect on firm value with financial distress as an intervening variable. </em></p>

scholarly journals The effect of debt policy, company value, company size, investment cash flow on stock returns on mining companies listed on Indonesia Stock Exchange

2019 ◽  
Vol 9 (1) ◽  
pp. 99
Author(s):  
Ardhia Prameswari Regita Cahyani ◽  
Carolyn Lukita Sembiring
Keyword(s):  
Financial Performance ◽  
Stock Returns ◽  
Cash Flow ◽  
Firm Value ◽  
Stock Exchange ◽  
Company Size ◽  
Mining Company ◽  
Mining Companies ◽  
Company Value ◽  
Debt Policy

Investment is a delay in consumption now to be allocated to productive assets which are expected to generate profits in the future, which is called stocks return.  Mining company in Indonesia is an attractive sector to invest in stocks because from a geographical perspective, Indonesia is an archipelago structure that contains mining products. There are risks that will be experienced by investors when investing, namely systematic risk and unsystematic risk. Unsystematic risk can be avoided because related to management decisions. Knowing and analyzing the effect of debt policy, firm value, company size, investment cash flow on stock returns on mining companies listed on the Indonesian Stock Exchange. The statistical method used in this study is multiple regression analysis. The sample in this study is a mining company that has go public and published audited financial statements 2013-2017 with 84 data processed consisting of 28 companies each year. The results of hypothesis testing can be concluded that debt policy and firm value have significant effect on stock returns while firm size and investment cash flow does not have significant effect on stock returns. Investor will be interested in investing in companies with good financial performance rather than bad financial performance.

scholarly journals PENGARUH STRUKTUR MODAL TERHADAP PROFITABILITAS DAN NILAI PERUSAHAAN PADA PERUSAHAAN BATUBARA YANG GO-PUBLIC DI INDONESIA

2019 ◽  
Vol 3 (1) ◽  
pp. 97
Author(s):  
LCA Robin Jonathan ◽  
Theresia Militina
Keyword(s):  
Capital Structure ◽  
Coal Mining ◽  
Financial Management ◽  
Firm Value ◽  
Stock Exchange ◽  
Secondary Data ◽  
Selling Price ◽  
Data Types ◽  
Leverage Ratio ◽  
Mining Companies

This study aims to analyze and determine the effect of the projected capital structure in the leverage ratio on profitability and company value in coal companies that go public in Indonesia in 2013-2015 both directly and indirectly.With the improvement in the selling price of coal today, it is a breath of fresh air for coal mining companies to start their activities. The decision on the proportion between debt and equity is very important. Modigliani and Miller said that the use of debt would be more profitable than the capital itself. The main objective of financial management is to maximize the value of the company. From managed business activities, profits are obtained. The problem is whether the capital structure has a significant effect on profitability and firm value. The development of coal mining companies in Indonesia has good prospects because it is very much needed for the energy industry by generating electricity with coal. The mining and mining service companies listed on the Indonesia Stock Exchange in 2013-2015 were 42 companies and 23 of them were coal mining companies whose financial reports were examined at the same time period. This study uses path analysis with cross section data and secondary data types in the form of financial statements published on the Indonesia Stock Exchange. The results of the study show that directly, capital structure has no significant effect on profitability and has a negative and significant effect on firm value. Profitabitas has no significant effect on firm value. Indirectly, profitability has no significant effect in mediating the relationship of capital structure to firm value.

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