VALUE DRIVERS TERHADAP NILAI PEMEGANG SAHAM PERUSAHAAN YANG HEDGING DI DERIVATIF VALUTA ASING

Authors

  • Fika Fitriasari

DOI:

https://doi.org/10.22219/jmb.v1i1.1325

Abstract

Fakultas Ekonomi Universitas Muhammadiyah Malang
E-mail: fika@umm.ac.id

ABSTRACT

The aim of this research are to understanding and analyzing the effect of value drivers variables
(sale growth, operation profit, fixed asset investment, work capital investment, and capital cost) on
shareholder value in the company with hedging strategy in foreign currency derivative. Result of
research indicates that: value drivers actually are expected to increase the shareholder value in
company with hedging strategy in foreign currency derivative; value drivers actually may increase
the shareholder value in company with hedging strategy in foreign currency derivative, capital cost
cannot improve shareholder value in company with hedging strategy in foreign currency derivative;
and sale growth is the strongest factor to increase shareholder value in company with hedging strategy
in foreign currency derivative.

Key words: value drivers, shareholder value, hedging, foreign currency derivative

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Published

2013-01-11

Issue

Vol. 1 No. 1 (2011): April

Section

Articles

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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.