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Hedging strategy against exchange rate volatility in Indonesian export-import companies : a case study on PT Astra International, Tbk Muhammad Bahanan; Prisilia Angel Tantri; Fitriya Andriyani; Rezha Isyraqi Qastalano
Jurnal Ilmiah Multidisiplin Indonesia (JIM-ID) Vol. 4 No. 09 (2025): Jurnal Ilmiah Multidisplin Indonesia (JIM-ID) October 2025
Publisher : Sean Institute

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Abstract

This study aims to explore and evaluate the hedging strategies employed by PT Astra International Tbk in managing exchange rate volatility resulting from its export-import activities. Using a qualitative approach with a case study method, the research utilizes secondary data from financial statements, annual reports, and official disclosures from 2020 to 2024. The findings reveal that Astra consistently applies both financial hedging using instruments such as forward contracts and cross-currency swaps and natural hedging through currency alignment in operational flows. Despite occasional accounting losses from derivative instruments, the company demonstrates high hedging effectiveness, averaging over 98% in reducing potential exchange rate losses. This study contributes to the understanding of risk management practices in emerging market corporations and underscores the importance of integrating derivative instruments into corporate treasury systems. The results offer practical insights for companies facing foreign exchange risk and support theoretical frameworks on financial risk mitigation and corporate governance.
COGNITIVE MODELS AND NEUROMARKETING: UNVEILING THE PSYCHOLOGICAL FOUNDATIONS OF CONSUMER PURCHASING BEHAVIOUR Yuli Purbaningsih; Risnawati Ramli; Sartika S; Prisilia Angel Tantri; Nina Triolita
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 1 (2024): January
Publisher : Adisam Publisher

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Abstract

This study comprehensively explores consumer purchasing behavior by synthesizing cognitive models and neuromarketing principles. Navigating the intricate dynamics between conscious and unconscious processes, it investigates classical cognitive models, notably the Information Processing Model, and contemporary theories like the Dual Process Theory. Venturing into the transformative landscape of neuromarketing, the study uncovers the neural correlates and neurotransmitter influences shaping consumer choices. Ethical considerations and methodological limitations are rigorously examined to provide a balanced understanding. Furthermore, the study outlines future directions, emphasizing the contemplation of emerging technologies and encouraging interdisciplinary collaborations. The findings offer profound insights, enriching current knowledge, shaping consumer behavior research trajectory, and revolutionizing future marketing strategies.