Article Per Year (5 Year)
p-Index From 2020 - 2025
1.978
P-Index
This Author published in this journals
All Journal Jurnal Manajemen ESENSI: JURNAL BISNIS DAN MANAJEMEN Jurnal Keuangan dan Perbankan Journal of Economics, Business, & Accountancy Ventura Syntax Literate: Jurnal Ilmiah Indonesia Equilibrium: Jurnal Ekonomi-Manajemen-Akuntansi Jurnal Maksipreneur: Manajemen, Koperasi, dan Entrepreneurship Journal of Innovation in Business and Economics Asia Pacific Fraud Journal Journal of Enterprise and Development (JED) Jurnal Ekonomi Media Riset Bisnis & Manajemen Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Journal of Ekonomics, Finance, and Management Studies
Prima Naomi
Universitas Paramadina, Indonesia
Religion Agriculture, Biological Sciences & Forestry Humanities Civil Engineering, Building, Construction & Architecture Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Social Sciences Other

Published : 20 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search
Journal : Jurnal Keuangan dan Perbankan

 1 
The Impact of Hedging on Firm Value of Public Non-Bank State-Owned Enterprises Henny Galla Pradana; Prima Naomi
Jurnal Keuangan dan Perbankan Vol 22, No 2 (2018): April 2018
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (387.518 KB) | DOI: 10.26905/jkdp.v22i2.1967

Abstract

This research aimed to find the impact of hedging on firm value. This research focused on 14 public non-bank state-owned enterprises listed in Indonesia Stock Exchange. The data used were quarterly data from 2011 to 2015, and panel data analysis. The basic model of research used referred to the research of Júnior Laham (2008) as well as the development of models conducted by Allayanis Weston (2001) to correct endogenous factors. The results showed that only five of the fourteen state-owned corporations that used a hedging instrument. The research findings showed that the firms which did hedging had a higher value than a firm that did not do it. A more detailed investigation found that the adoption of hedging strategies could increase the firm value, and the dislocation of the hedging strategy had a negative effect on the firm value, compared to firms that kept implementing hedging strategy. The magnitude of hedging measured using the Total Notional Value of Derivative to Total Assets (TNVD) also had a positive impact on the firm value. This finding also supported Bank Indonesia Regulation Number 15/8/PBI/2013 which was effective in reducing exchange rate risk for state-owned enterprises which in turn increased the firm value.JEL Classification : G 2 1, G 28 , G3 2, G38DOI: https://doi.org/10.26905/jkdp.v22i2.1967
Co-Authors Aditio Wahyudi Akbar, Iqbal Arief Tirtana Arinto, Sutresna Ayu Dwi Nindyati Christharyanto, Handrix Fathur Baihaqi Marzuki Handi Risza Henny Galla Pradana Iin Mayasari Iqbal Akbar Iqbal Akbar Muhamad Daffa Azriel Nurlita, Vina Oka Aditya Sofyan, Willy Wigia Sucianti Sucianti Vina Nurlita