Articles
<![CDATA[FAKTOR-FAKTOR YANG BERPENGARUH TERHADAP KEBIJAKAN HEDGING PERUSAHAAN DI INDONESIA ]]>
<![CDATA[Bodroastuti, Tri]]>;
<![CDATA[Paranita, Ekayana Sangkasari]]>;
<![CDATA[Ratnasari, Lia]]>
<![CDATA[ Valid Jurnal Ilmiah Vol 16 No 1 (2019) ]]>
Publisher : <![CDATA[Sekolah Tinggi Ilmu Ekonomi AMM Mataram ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
<![CDATA[Hedging is an action taken to protect companies from exposure to exchange rates. Exposure to exchange rate fluctuations is the vulnerability of firms affected by exchange rate fluctuations. This study aims to analyze the factors that affect the company's hedging policy. The population is a nonfinancial manufacturing company listed on the Indonesia Stock Exchange (IDX) for the period of 2011-2015. The data used comes from the financial statements of each company. The analysis technique used is logistic regression analysis. The research findings show that growth opportunity negatively affect the company's hedging policy, while liquidity, firm size, financial distress, leverage, and managerial ownership have a positive effect on company's hedging policy. This finding is expected to be a consideration for investors before investing in manufacturing companies in BEI.]]>
<![CDATA[ANALISIS PENGARUH KEBIJAKAN HEDGING DENGAN INSTRUMEN DERIVATIF VALUTA ASING DAN VARIABEL-VARIABEL VALUE DRIVERS TERHADAP NILAI KEKAYAAN PEMEGANG SAHAM (Studi Empiris Terhadap Perusahaan Nonfinansial yang Terdaftar di Bursa Efek Jakarta tahun 2000-2003) ]]>
<![CDATA[Paranita, Ekayana Sangkasari]]>
<![CDATA[ JURNAL BISNIS STRATEGI Vol 15, No 1 (2006): Juli ]]>
Publisher : <![CDATA[Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
Full PDF (1513.259 KB)
|
DOI: 10.14710/jbs.15.1.1-21
<![CDATA[The fluctuation of foreign currency exchange has given a negative influence towards cash flow and firm's value, and it also threats the related-company survive. In the other hand, the company obligates to maximize the shareholder's value. Therefore, to anticipate the negative influence of foreign exchange fluctuation and also to prevent it for the shareholder's importance, thus partly firms have done a hedging policy with foreign exchange derivative instrument. This research has been done to achieve the implication of good managerial both for the investors or the management.This research aims to analyze the influence of hedging policy and foreign exchangederivative instrument towards the shareholder's value with value-drivers control variables. The shareholders value uses Market-to-Book Value of Equity ratio (MBE) indicator. The hedging policy is reflected dummy variable. Whereas the variable control that is used is Total Asset Turnover (TAT), Operating Profit Margin (OPM), Net Fixed Asset to Total Asset (NFA TA), Current Ration (CR), and Debt to Equity Ratio (DER). The type of data that is used is secondary data that gained from !GMO 2003 - 2004 and JAKARTA STOCK EXCHANGE web site. The research population is the whole non-financed companies in JAKARTA STOCK EXCHANGE. The purposive sampling with full sample method gains 104 emitters as the sample during the period of 2000 - 2003. This research uses regression analysis with Least Square Dummy Variable (LSDV) model. The hypothesis test uses t test and F test with 5 % significant level. This research result shows that the hedging policy with foreign exchange derivative instrument in JAKARTA STOCK EXCHANGE does not influence the shareholders value. This is caused by the characteristic of JAKARTA STOCK EXCHANGE that have emerging market characteristic, whereas the United States' stock exchange has developed market characteristic. Then the whole of control variables both partiallyor simultanly contributes a significant influence towards the increasing of shareholders value.]]>
<![CDATA[The Effect of Agency Costs on Hedging Policy in Indonesian Public Companies ]]>
<![CDATA[Paranita, Ekayana Sangkasari]]>;
<![CDATA[Aditya, Elma Muncar]]>
<![CDATA[ JDM (Jurnal Dinamika Manajemen) Vol 11, No 1 (2020): March 2020 (DOAJ Indexed) ]]>
Publisher : <![CDATA[Department of Management, Faculty of Economics, Universitas Negeri Semarang ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.15294/jdm.v11i1.22566
<![CDATA[The purpose of this study is to examine the effect of agency costs on company hedging policies. This study use the concept of hedging policies derived from synchronizing foreign exchange derivatives based on agency theory and hedging with foreign exchange debt based on balancing theory. The novelty of this research is the application of the synthesis of agency theory and balancing theory as indicators of hedging policies. The hedging policy based on foreign exchange derivatives is synchronized with the hedging policy based on foreign debt. The population was companies listed on the Indonesia Stock Exchange (IDX) in 2012-2017. Using the purposive sampling method, 78 companies for each year from 2012 - 2017 were obtained with a total of 468 data. This research used a panel data regression method. The hypotheses were tested with the Hausman Test, which shows the best research model is the Fixed Effect Model. The results of the study concluded that financial distress and underinvestment had a significant positive effect on hedging policies, while business risk did not affect hedging policies because most companies had relatively low foreign sales. The findings of this study have theoretical implications that support agency and balancing theory.]]>
<![CDATA[Estimasi Penilaian Build Operate and Transfer Atas Aset Daerah Pemerintah Kota Semarang yang Berpotensi Sebagai Wahana Wisata Alam Guna Peningkatan Pendapatan Asli Daerah ]]>
<![CDATA[Paranita, Ekayana Sangkasari]]>
<![CDATA[ Jurnal Ilmiah Aset Vol 10 No 2 (2008): Jurnal ASET Volume 10 No 2 ]]>
Publisher : <![CDATA[STIE Widya Manggala ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
<![CDATA[The purpose of this research is to estimate the value of build operate and transfer (BOT) of regional asset of Semarang municipal government which has potential as natural tourism resort. All this time, a number of assets of Semarang municipality haven’t been managed optimally. At the beginning of 2008, Semarang municaplity through its legal website offered its assets to the investors to be organized cooperately. It pursued to the investors and could be contributed in enchancing regional income. The research estimates the value of BOT of asset of Semarang municipal government which has potency as natural tourism resort based on evaluation approaches that meet Indonesian Evaluation Standard of 2007. By the scenario of BOT cooperation, asset of land in Sodong is expected to be optimally managed, give contribution to regional income, and at the of BOT period, Semarang municipalty could have natural tourism resort as it profitable asset.]]>
<![CDATA[Analisis Pengaruh Rentabilitas, Solvabilitas dan Likuiditas terhadap Nilai Perusahaan ]]>
<![CDATA[Nurhasanah, Silva]]>;
<![CDATA[Paranita, Ekayana Sangkasari]]>
<![CDATA[ Jurnal Ilmiah Aset Vol 21 No 2 (2019): Jurnal ASET Volume 21 No 2 ]]>
Publisher : <![CDATA[STIE Widya Manggala ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
<![CDATA[This study aims to analyze the effect of profitability ratios, solvency ratios, and liquidity ratios towards firm value of the public companies listed on the Indonesia Stock Exchange in the period 2015-2017. The population is twelve automotive and component subsector companies. Sampling of this study was conducted using purposive sampling technique. Data is in the form of secondary data from each company’s financial statements from the Indonesian Stock Exchange website. The analytical method used is multiple linear regression analysis. The results show that of the ratios that measure the company’s financial performance, only the profitability ratio has a significant positive effect on firm value. The solvency ratio and the liquidity ratio does not significantly influence the firm value. But simultaneously, the three financial ratios show a significant positive effect towards firm value. This research model is quite strong, because all three variables contribute highly in explaining variations in firm value.]]>
<![CDATA[Peningkatan Literasi Keuangan di Kampung Makan Rafel’s Jakarta Barat ]]>
<![CDATA[Paranita, Ekayana Sangkasari]]>;
<![CDATA[Syukron Harahap, Azami]]>
<![CDATA[ International Journal of Community Service Learning Vol 4, No 3 (2020): August 2020 ]]>
Publisher : <![CDATA[Universitas Pendidikan Ganesha ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
Full PDF (477.048 KB)
|
DOI: 10.23887/ijcsl.v4i3.28858
<![CDATA[Kampung Makan Rafel’s merupakan Pujasera kecil di Jakarta Barat yang tenant dan pengelolanya mengalami kesulitan operasional karena rendahnya perputaran kas. Para tenant dan pengelola belum kenal sumber pembiayaan terpercaya, belum paham pengelolaan keuangan, dan belum paham investasi. Rendahnya tingkat literasi keuangan sangat memprihatinkan karena beresiko buruk terhadap kelangsungan usaha. Program pengabdian kepada masyarakat ini bertujuan meningkatkan literasi keuangan para tenant dan pengelola Kampung Makan Rafel’s. Metode dalam edukasi literasi keuangan meliputi persiapan, pendampingan literasi keuangan, serta monitoring dan evaluasi. Program pendampingan literasi keuangan menghasilkan kemajuan positif terbukti dari peserta paham produk dan jasa keuangan, muncul kesadaran menabung, terampil mengisi buku kas sebagai sarana perencanaan keuangan, dan paham instrumen investasi yang aman. Hal ini berimplikasi bahwa para tenant dan pengelola Kampung Makan Rafel’s sebaiknya tetap dipantau literasi keuangannya, sehingga dapat mempertahankan usahanya secara berkesinambungan.]]>
<![CDATA[FAKTOR-FAKTOR YANG BERPENGARUH TERHADAP KEBIJAKAN HEDGING PERUSAHAAN DI INDONESIA ]]>
<![CDATA[Tri Bodroastuti]]>;
<![CDATA[Ekayana Sangkasari Paranita]]>;
<![CDATA[Lia Ratnasari]]>
<![CDATA[ Valid: Jurnal Ilmiah Vol 16 No 1 (2019) ]]>
Publisher : <![CDATA[Sekolah Tinggi Ilmu Ekonomi AMM ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
Full PDF (0.272 KB)
<![CDATA[Hedging is an action taken to protect companies from exposure to exchange rates. Exposure to exchange rate fluctuations is the vulnerability of firms affected by exchange rate fluctuations. This study aims to analyze the factors that affect the company's hedging policy. The population is a nonfinancial manufacturing company listed on the Indonesia Stock Exchange (IDX) for the period of 2011-2015. The data used comes from the financial statements of each company. The analysis technique used is logistic regression analysis. The research findings show that growth opportunity negatively affects the company's hedging policy, while liquidity, firm size, financial distress, leverage, and managerial ownership have a positive effect on company's hedging policy. This finding is expected to be a consideration for investors before investing in manufacturing companies in BEI]]>
<![CDATA[KEBIJAKAN HEDGING DENGAN DERIVATIF VALUTA ASING PADA PERUSAHAAN PUBLIK DI INDONESIA ]]>
<![CDATA[Ekayana Sangkasari Paranita]]>
<![CDATA[ PROSIDING SEMINAR NASIONAL & INTERNASIONAL 2011: PROSIDING SEMINAR NASIONAL EKONOMI ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Semarang ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
<![CDATA[The purpose of this paper is investigates the corporate hedging policy among Indonesiancapital market to provide empirical evidence on the determinants of the hedging policy.The research using a sample of 150 non-financial manufacturing firms over the period2010. The methodology taken is application of logit regression framework and paneldata technique. It is found that a few Indonesia firms hedge market risks. There is asignificant positive correlation between financial distress costs, underinvestment costs,and assets substitution costs towards corporate hedging policy. Hence, it seems thatIndonesian firms do not assign hedging to respond to tax benefit. At present, most of theIndonesian firms are either cautions or unsure about the use of derivative instruments.There is a need to inform managers about usefulness of the derivatives and market riskreporting that would contribute to greater financial transparency. The findings imply thatfirms should disclose in their publicy financial report that they truly use derivatives forhedging purposes. This paper adds contribution to risk management research byproviding strong empirical evidence of corporate hedging policy in Indonesia as one ofthe emerging market countries.]]>
<![CDATA[Analisis Komparatif Tingkat Kesehatan Bank BUMN Di Indonesia Dengan Metode RGEC ]]>
<![CDATA[Chandra Hotpartua]]>;
<![CDATA[Ekayana Sangkasari Paranita]]>
<![CDATA[ INOBIS: Jurnal Inovasi Bisnis dan Manajemen Indonesia Vol. 3 No. 2 (2020): INOBIS: Jurnal Inovasi Bisnis dan Manajemen Indonesia - Edisi Maret 2020 ]]>
Publisher : <![CDATA[Forum Inovasi Bisnis dan Manajemen ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
Full PDF (397.973 KB)
|
DOI: 10.31842/jurnalinobis.v3i2.135
<![CDATA[Penelitian ini bertujuan untuk mengetahui tingkat kesehatan bank BUMN ditinjau dari aspek Profil Risiko, aspek Good Corporate Governance, aspek Laba, dan aspek Permodalan pada periode tahun 2015-2018. Objek penelitian adalah empat Bank BUMN Nasional yaitu Bank Mandiri, Bank BNI, Bank BRI, dan Bank BTN. Metode pengumpulan data melalui metode dokumenter dengan data sekunder. Penelitian ini menggunakan teknik analisis deskriptif dengan analisis rasio kualitatif. Aspek profil risiko bank BUMN dianalisis menggunakan rasio keuangan NPL (Non Performing Loan), dan LDR (Loan to Deposit Ratio). Aspek Good Corporate Governance dianalisis berdasarkan nilai komposit. Aspek laba bank BUMN dianalisis dengan rasio keuangan ROA (Return On Assets). Aspek permodalan bank BUMN dianalisis menggunakan rasio keuangan CAR (Capital Adequacy Ratio). Temuan penelitian menunjukkan bahwa berdasarkan aspek profil resiko, laba, dan permodalan, bank yang paling unggul adalah Bank BRI. Adapun berdasarkan aspek Good Corporate Governance, bank yang paling unggul adalah Bank Mandiri.]]>
<![CDATA[PENINGKATAN LITERASI KEUANGAN PEMILIK HOMESTAY DI PULAU HARAPAN KEPULAUAN SERIBU ]]>
<![CDATA[Ekayana Sangkasari Paranita]]>;
<![CDATA[Levyda Levyda]]>;
<![CDATA[Giyatmi Giyatmi]]>
<![CDATA[ WASANA NYATA Vol 3, No 2 (2019) ]]>
Publisher : <![CDATA[STIE AUB Surakarta ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
Full PDF (266.853 KB)
|
DOI: 10.36587/wasananyata.v3i2.528
<![CDATA[Pengembangan homestay di Pulau Harapan di Kepulauan Seribu sangat mendesak karena kebutuhan jauh melebihi ketersediaannya. Pemilik homestay di Pulau Harapan memiliki keterbatasan modal untuk pengembangan usaha serta pengelolaan keuangannya belum memadai akibat rendahnya literasi keuangan. Kegiatan pengabdian kepada masyarakat di Pulau Harapan ditujukan untuk memberikan edukasi literasi keuangan bagi pemilik homestay dalam peningkatan pemahaman mengenai jasa keuangan dan pengelolaan keuangan homestay. Kegiatan dilaksanakan dalam dua kali kunjungan, masing-masing selama tiga hari, diikuti empat puluh pemilik homestay. Kegiatan terbagi atas tiga tahap, yakni tahap persiapan, tahap pendampingan, serta tahap monitoring dan evaluasi. Setelah terlaksananya program pendampingan, tingkat literasi keuangan pemilik homestay belum meningkat signifikan, terutama dalam pemahaman terkait asuransi dan investasi. Pemilik homestay di Pulau Harapan masih membutuhkan pendampingan intensif untuk meningkatkan pemahaman literasi keuangan.]]>
