PENGARUH FINANCIAL DISTRESS, FIRM SIZE, DAN MARKET TO BOOK VALUE TERHADAP KEPUTUSAN HEDGING

SAFRI JUNAIDI, . (2025) PENGARUH FINANCIAL DISTRESS, FIRM SIZE, DAN MARKET TO BOOK VALUE TERHADAP KEPUTUSAN HEDGING. Sarjana thesis, UNIVERSITAS NEGERI JAKARTA.

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Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh financial distress, firm size, dan market to book value terhadap keputusan hedging pada perusahaan sektor energi yang terdaftar di Bursa Efek Indonesia. Sampel penelitian diperoleh melalui teknik purposive sampling, dengan total 152 data observasi selama periode 2021–2024. Data yang digunakan merupakan data sekunder yang bersumber dari laporan keuangan perusahaan yang diakses melalui situs resmi Bursa Efek Indonesia (BEI) dan beberapa sumber pendukung lainnya. Analisis data dilakukan menggunakan regresi logistik biner dengan bantuan perangkat lunak SPSS versi 29. Hasil penelitian menunjukkan bahwa firm size berpengaruh positif signifikan terhadap keputusan hedging, sedangkan financial distress dan market to book value tidak berpengaruh signifikan terhadap keputusan hedging. Temuan ini mengindikasikan bahwa firm size menjadi faktor utama dalam menentukan keputusan manajemen risiko melalui strategi hedging. Penelitian ini mengimplikasikan bahwa firm size berperan penting dalam keputusan hedging, mendukung teori keagenan. Temuan ini bermanfaat bagi manajemen dalam penguatan strategi risiko, bagi investor sebagai acuan penilaian manajerial, serta bagi regulator untuk mendorong transparansi praktik hedging perusahaan. ***** This study aims to analyze the influence of financial distress, firm size, and market to book value on hedging decisions in energy sector companies listed on the Indonesia Stock Exchange. The research sample was obtained using purposive sampling, with a total of 152 observational data points collected over the 2021–2024 period. The data used are secondary data sourced from company financial reports accessed through the official website of the Indonesia Stock Exchange (IDX) and several other supporting sources. Data analysis was performed using binary logistic regression with the assistance of SPSS version 29 software. The results show that firm size has a significant positive effect on hedging decisions, while financial distress and market to book value do not have a significant effect. These findings indicate that firm size is a key factor in determining risk management decisions through hedging strategies. This study implies that firm size plays an important role in hedging decisions and supports agency theory. The findings are useful for management in strengthening risk strategies, for investors as a basis for evaluating managerial capacity, and for regulators in promoting transparency in corporate hedging practices.

Item Type:	Thesis (Sarjana)
Additional Information:	1.) Adam Zakaria S.E., M.Si., Ph.D., Ak., CA., CFrA., QIA., CRP. ; 2.) Ratna Anggraini, S.E., M.Si. Ak. CA
Subjects:	Ilmu Sosial > Perdagangan, e-commerce > Akuntansi
Divisions:	FE > S1 Akuntansi
Depositing User:	Safri Junaidi .
Date Deposited:	07 Aug 2025 01:04
Last Modified:	07 Aug 2025 01:04
URI:	http://repository.unj.ac.id/id/eprint/58462

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