Pengaruh Foreign Liability, Interest Coverage Ratio, Growth Opportunity dan Firm Size, terhadap Keputusan Hedging pada Perusahaan Perbankan dengan Struktur Modal sebagai Variabel Moderating

Abstract

This study aims to determine the effect of foreign liability, interest coverage ratio, growth opportunity and firm size on firm value in Banking Companies listed on the Indonesia Stock Exchange. In addition, this study also aims to see whether capital structure can be used as a moderating variable in this study. This study uses a type of causal associative research that aims to test the hypothesis. Based on the purposive sampling technique, it can be seen that the number of samples in this study were 38 companies with a total of 190 observation data. This research was conducted on the Indonesia Stock Exchange using secondary data. While the data analysis technique used in this research is Logistic Regression Analysis and Interaction Test which is carried out with the help of SPSS software. The results obtained in this study concluded that the interest coverage ratio has a negative and significant effect on hedging decisions. Firm size is proven to have a positive and significant effect on hedging decisions, while foreign liability and growth opportunity are proven to have no effect on hedging decisions in Banking Companies listed on the Indonesia Stock Exchange in 2018-2022. In addition, other results in this study also concluded that capital structure is able to moderate the effect of interest coverage ratio and firm size on hedging decisions. Meanwhile, on foreign liability and growth opportunity on hedging decisions, capital structure is unable to provide a moderating effect.