Please use this identifier to cite or link to this item:
https://repository.uksw.edu//handle/123456789/25293
Title: | Studi Komparatif Strategi Hedging di Indonesia, Malaysia, dan Singapura |
Authors: | Setianto, Felix Januvi |
Keywords: | risiko nilai tukar;strategi hedging;hedging effectiveness |
Issue Date: | 29-Aug-2019 |
Abstract: | Penelitian ini bertujuan untuk mengetahui: (1) instrumen derivatif apa yang sering digunakan perusahaan di Indonesia, Malaysia, dan Singapura untuk memitigasi risiko nilai tukar, dan (2) apakah penggunaan instrumen derivatif efektif dalam memitigasi risiko nilai tukar. Penelitian ini menggunakan laporan tahunan perusahaan non keuangan yang tercatat di Bursa Efek Indonesia, Bursa Malaysia, dan Bursa Efek Singapura untuk mencari jenis instrumen derivatif yang digunakan perusahaan pada tahun 2017-2018, dan data historis nilai spot dan nilai setiap instrumen derivatif pada tahun 2018. Dari kriteria yang telah ditentukan, diperoleh sampel sebanyak 413 perusahaan dari Indonesia, 741 perusahaan dari Malaysia, dan 568 perusahaan dari Singapura. Hasil dari penelitian ini adalah: (1) terdapat perbedaan penggunaan strategi hedging antara Indonesia (mayoritas menggunakan kontrak swap) dengan Malaysia dan Singapura (mayoritas menggunakan kontrak forward), (2) karena keterbatasan dalam mengakses data, penelitian ini hanya berfokus pada tingkat efektivitas kontrak futures, dan hasilnya adalah kontrak futures efektif dalam memitigasi risiko nilai tukar. This study aims to determine: (1) what type of derivative instrument which is often used companies in Indonesia, Malaysia, and Singapore to mitigate currency risk, and (2) is the use of derivative instrument effective in mitigating currency risk. This study uses annual report non financial companies which is recorded in Indonesia Stock Exchange, Malaysia Stock Exchange, and Singapore Stock Exchange to find type of derivative instrument which is used the companies in 2017-2018, and daily historical data of spot value and each derivative instrument value in 2018. According to preset criteria, there are 413 companies in Indonesia, 741 companies in Malaysia, and 568 companies in Singapore is obtained. The result of this research are: (1) There are differences in used hedging strategy between companies in Indonesia (majority uses swap contract) with companies in Malaysia and in Singapore (majority uses forward contract) (2) Due to the limitation in accessing data, this study only focuses on hedging effectiveness of futures contract, and the result is that futures contract effective to mitigate currency risk. |
URI: | https://repository.uksw.edu/handle/123456789/25293 |
Appears in Collections: | T1 - Accounting |
Files in This Item:
File | Description | Size | Format | |
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T1_212015219_Abstract.pdf | 872.17 kB | Adobe PDF | View/Open | |
T1_212015219_Full text.pdf | 1.39 MB | Adobe PDF | View/Open |
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