Dalimi, Aviva (2012) ANALISIS KEBIJAKAN LINDUNG NILAI (HEDGING) UNTUK MEMITIGASI RESIKO VOLATILITAS NILAI TUKAR RUPIAH TERHADAP DOLLAR AMERIKA PADA PT AAA TBK. S2 thesis, Universitas Mercu Buana Jakarta-Menteng.
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Abstract
The volatility of foreign exchange is one of the most important elements to be taken into account in the corporate risk management strategies, especially for the corporate with liabilities in foreign currency. The volatility has led to the uncertainty of cash management. Then hedging has been a commonly used tools to mitigate the risk of the uncertainty. This study examines how to manage the volatility of the currency risk at the optimum level and how to select the hedging instruments with minimum cost but optimum protection. The result is that only 25,55% of the total liabilities should be hedged and the rest can be safely left unhedged. Among the three instruments, namely forward market, money market, and option market, it is money market with the minimum cost of hedging. Key words: Foreign exchange, currency risk, hedging. Volatilitas nilai tukar mata uang merupakan salah satu elemen penting yang harus dipertimbangkan dalam strategi pengelolaan resiko perusahaan, khususnya perusahaan dengan kewajiban dalam mata uang asing. Volatilitas tersebut menimbulkan ketidakpastian dalam pengeloaan kas perusahaan. Karena itu lindung nilai sudah menjadi alat yang umum digunakan dalam memitigasi resiko ketidakpastian tersebut. Penelitian ini berusaha menemukan bagaimana cara mengelola volatilitas dari resiko mata uang pada titik yang optimal dan bagaimana memilih instrumen lindung nilai yang berbiaya rendah namun optimal perlindungannya. Hasilnya adalah bahwa hanya 25,55% dari kewajiban yang seharusnya dihedging dan sisanya dibiarkan tidak dihedging. Diantara 3 instrumen yakni forward market, money market, dan option market, maka money market merupakan instrumen dengan biaya hedging terendah. Kata kunci: Nilai tukar mata uang asing, resiko mata uang, lindung nilai.
| Item Type: | Thesis (S2) |
|---|---|
| Call Number CD: | CDT-551-12-066 |
| Call Number: | TM/51/12/011 |
| NIM/NIDN Creators: | 55109120015 |
| Uncontrolled Keywords: | Nilai tukar mata uang asing, resiko mata uang, lindung nilai, mku, manajemen keuangan |
| Subjects: | 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 658 General Management/Manajemen Umum |
| Divisions: | Pascasarjana > Magister Manajemen |
| Depositing User: | Admin Perpus UMB |
| Date Deposited: | 27 Apr 2012 16:16 |
| Last Modified: | 12 Jul 2022 04:41 |
| URI: | http://repository.mercubuana.ac.id/id/eprint/38305 |
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