PENGARUH PROFITABILITY, LIQUIDITY, GROWTH OPPORTUNITY, DAN FINANCIAL DISTRESS DALAM PENGAMBILAN KEPUTUSAN HEDGING DENGAN INSTRUMEN DERIVATIF VALUTA ASING PADA PERUSAHAAN SUB SEKTOR PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2018–2020

Abstract

This study aims to determine the effect of Profitability, Liquidity, Growth Opportunity and Financial Distress in Hedging Decision Making with Foreign Exchange Derivative Instruments. This research is a type of quantitative research. The study was conducted on banking sub-sector companies listed on the Indonesian stock exchange for the 2018-2020 period with a population of
46 banking companies and a total sample of 26 banking companies through a sampling technique in the form of purposive sampling. The research was conducted in stages, collecting secondary data through an annual report published through the official website of the Indonesia Stock Exchange (IDX), Then the data analysis method used in this study used descriptive statistical tests, logistic
regression analysis in the form of model fit tests (overall model fit), the regression model feasibility test (Hosmer and Lemeshow's goodness), the coefficient of determination test (Nagelkerke r square) and the classification matrix test. The results show that Profitability, Liquidity and Financial Distress have a significant effect on hedging. Meanwhile, Growth Opportunity has no significant
effect on hedging. 

Keywords: Profitability, Liquidity, Growth Opportunity, Financial Distress, Hedging