Pengaruh Kinerja Keuangan terhadap Keputusan Hedging dengan Financial Distress sebagai Variabel Moderasi (Studi Empiris pada Perusahaan Sektor Non Keuangan di Bursa Efek Indonesia Tahun 2016-2020)

Abstract

This study aims to analyze the effect of Financial Performance on Hedging Decisions with Financial Distress as a moderating variable. Hedging decisions are measured based on dummy variables, Financial Distress is measured by the Altman Z-Score ratio, and financial performance is measured by Return On Assets. This study uses secondary data obtained from financial reports or annual reports of companies listed on the Indonesia Stock Exchange. The population in this study are non-financial sector companies listed on the Indonesia Stock Exchange in 2016-2020. By using the purposive sampling method, the samples obtained in this study were 343 companies. The statistical method used is logistic regression analysis. The results of the study prove that financial performance has a significant negative effect on hedging decisions. However, Financial Distress as a moderating variable is proven to have no effect on the relationship between Financial Performance and Hedging Decisions